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Brexit impact on Scotland's economy

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Christian Fernsby ▼ | February 15, 2020
Brexit uncertainty resulted in significantly lower growth for the Scottish economy in 2019, a report has found.
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The latest State of the Economy report, published by the Scottish Government’s Chief Economist Gary Gillespie, says despite the immediate risk of a ‘no deal’ Brexit being removed, uncertainty remains particularly for those reliant on new trade agreements.

Topics: Brexit Scotland economy

The report documents how:

recent performance of the Scottish economy has been dominated by Brexit, with the uncertainty impacting growth and business investment

Scotland’s labour market has continued to perform strongly by historical standards, however employment levels have fallen over the year

consumer and business sentiment weakened in 2019 and continues to risk growth the outlook for 2021 and beyond is crucially dependent on the shape of any future EU trade deal and the impact of businesses adjusting to additional requirements to trade both in terms of costs and access.


 

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