Chancellor of the Exchequer’s Economic Update

Part of the debate – in the Scottish Parliament on 9th July 2020.

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Photo of Kenneth Gibson Kenneth Gibson Scottish National Party

Last year, UK GDP was £2.21 trillion. The chancellor’s economic boost, announced to great fanfare, amounts to barely 1.3 per cent of that, despite the UK economy shrinking by more than 20 per cent in April alone.

Does the cabinet secretary agree that, with the Confederation of British Industry predicting a further 5.3 per cent contraction in the economy next year as a direct result of Brexit, much more needs to be done, including rebalancing taxes that are paid by high-street retailers with those that are paid by online businesses, if our town centres are not to suffer continuing decline and further job losses—another 5,300 have been announced by Boots and John Lewis only today?