Economic Situation: Scotland

HM Treasury written question – answered on 20th January 2017.

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Photo of Ian Murray Ian Murray Labour, Edinburgh South

To ask Mr Chancellor of the Exchequer, what recent assessment the Government has made of the potential effect on (a) Scottish businesses and (b) Scotland's economy of the UK leaving the EU single market and reverting to World Trade Organisation rules.

Photo of David Gauke David Gauke The Chief Secretary to the Treasury

There are a range of outcomes on EU exit and it would not be sensible to set out the costs, benefits and consequences of different scenarios in advance of the EU exit negotiation.

We have always been clear that this is a new chapter for the United Kingdom, but our economy is fundamentally strong and will continue to be strong as we conduct our negotiations for leaving the EU. We will work closely with the Scottish Government and Scottish businesses – and get the best possible deal for all parts of our United Kingdom as we leave the EU.

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