Scottish Secretary reacts to GDP figures for October 2024
Ian Murray says while the stats are disappointing, long-term growth remains a priority, with UK Government's Plan for Change delivering vital reform
Scotland鈥檚 latest GDP figures have been published this morning聽.
Onshore GDP is estimated to have contracted by 0.2% in October. This follows unrevised 0.3% growth in September.聽In the three months to October GDP is estimated to have remained flat with 0% change. This is a decrease compared to the Quarter 3 - July to September - growth rate of 0.3%.聽
Reacting to the figures,聽Scottish Secretary Ian Murray聽said:
While this month鈥檚 figures are disappointing, we inherited unprecedented challenges and this will take time to repair. Our Plan for Change is putting more money in people鈥檚 pockets as we strive to raise living standards for everyone across the UK.
Long-term growth remains our top priority and investment is key to that. We鈥檙e ploughing 拢1.4 billion into local growth projects over the next ten years in Scotland as well as backing聽Aberdeen-based Great British Energy with 拢8.3 billion.
To ensure families feel the benefits of growth sooner, the JobCentre reform element of our Get Britain Working strategy will help secure valuable employment and reduce inactivity, while the biggest overhaul of workers鈥� rights in a generation is ending exploitative zero-hours contracts and rewarding hard work with a true living wage.