UK Economic and Trade Performance

Part of First Minister’s Question Time – in the Scottish Parliament at on 13 June 2024.

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Photo of John Swinney John Swinney Scottish National Party

The report by the Resolution Foundation highlights that the UK has faced a decade of economic stagnation and low productivity growth. It also shows that the UK’s trade openness has declined by 0.7 percentage points since 2019, compared with a 1.2 percentage point rise for G7 countries excluding the United Kingdom. A hard Brexit that Scotland voted to reject has damaged our economy. Scotland is open for business, trade and investment, but actions by the UK Government, such as taking us out of the European Union, and the UK Government’s damaging approach to migration, are holding back our economy. Only independence will give Scotland the full range of powers to take economic decisions that are based on our own needs, with the full fiscal and tax levers of a normal independent country.