Please find below reaction to today’s publication of the GERS figures from Struan Stevenson, Chief Executive of Scottish Business UK.

Struan Stevenson, Chief Executive of Scottish Business UK said:

“The release of the GERS figures are our yearly reminder, if one were required, that the financial implications of Scottish independence would be devastating to businesses and families across Scotland.

If the First Minister can’t outline how an independent Scotland would address the net fiscal deficit that we have here in Scotland, then she needs to come clean with Scottish business and remove the spectre of another independence referendum which looms over our economy.  Only tax rises or vast reductions in public spending can plug this gap – both are unpalatable to the Scottish people.

While the figures do show some improvement in Scotland’s finances thanks to a small recovery in North Sea oil, it’s increasingly clear this one commodity cannot be relied upon to deliver stable returns each year.

Scottish business needs a level of certainty and these figures are a stark reminder of the uncertain future which lies ahead if the proponents of independence continue to gamble with the Scottish economy.”

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