Scottish Economy

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 24 October 2017.

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Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer 12:00, 24 October 2017

The UK internal market benefits all the nations and regions of the United Kingdom. It is essential that no new barriers to living and doing business in the UK are created. Exports to the rest of the UK are vital to the success of Scotland’s economy, generating £50 billion in 2015. That compares with £12 billion of exports to the EU and £16 billion to the rest of the world and it accounts for 63% of Scotland’s total exports.