PRESS RELEASE : Scottish Secretary responds to latest GDP figures for January 2023 [March 2023]

The press release issued by the Secretary of State for Scotland on 29 March 2023.

Growth at the beginning of the year sees economy rise above pre-pandemic levels.

Responding to the statistics, Scottish Secretary Alister Jack said:

Today’s figures again show the resilience of our economy, despite complex global problems.  The UK Government is taking action to achieve the Prime Minister’s priorities of halving inflation, reducing debt and encouraging growth.

Last month the Chancellor delivered a Budget for sustainable growth, alongside further cost of living support and an extra £320million for the Scottish Government to support public services.

Our Levelling Up agenda is encouraging growth at the heart of every community in Scotland and throughout the UK with more than £2.2bn invested to create and sustain high-quality jobs and two new Freeports progressing in Scotland will boost trade and further investment.

 Background:

The economy grew by 0.9% during the first month of this year, after falling by 0.8% the previous month in December 2022 and is now 1.1% above the pre-pandemic level in February 2020.