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FSB in Scotland on economic contraction

New economic data shows that Scotland’s economy contracted by 0.3 per cent in the second quarter of 2019. 

Andrew McRae, the Federation of Small Businesses’ (FSB) Scotland policy chair, said: “These figures are disheartening if unsurprising. Across the country, firms are either pouring resources into Brexit planning or postponing critical decisions until our political leaders get their act together. That means that they’re not using every tool at their disposal to create jobs and drive growth. 

“The small business priority is to avoid a no-deal, no-transition Brexit in just a few short weeks. Where possible, every business leader needs to take action to mitigate the risk of this chaotic outcome. But there’s no way such a scenario wouldn’t squeeze many operators. It must be avoided.

“North of the border, Holyrood decision-makers need to take note of the storm clouds on the horizon. The upcoming Scottish Government budget must focus on providing much needed stability and at every turn Ministers need to think twice about putting additional burdens on local firms.”