Scottish Deputy First Minister responds to GDP statistics for December and Quarter 4 of 2024

Responding to today's GDP statistics for Scotland, Deputy First Minister Kate Forbes said:

“These figures are encouraging, showing a 0.6% increase for December and an overall growth of 1.1% in Scotland's economy over the past year, which is forecast to strengthen further.

“With a focus on driving growth and investment, our draft budget for 2025-26 almost triples capital investment in the offshore wind supply chain to £150 million and provides funding to grow businesses at home and abroad. In addition, the First Minister has recently announced a £25 million Just Transition Fund to support the future of the Grangemouth industrial cluster.

“However, many levers to grow our economy lie with the UK Government and we remain deeply concerned by the cost of living crisis, rising energy costs and the potential impact of the increase in National Insurance employer contributions in the UK Budget which will have damaging consequences for businesses.”

Background

Monthly GDP Estimates for December - gov.scot