GDP figures welcome but still much more to be done

The latest figures show that GDP grew by 0.1% between the fourth quarter of 2010 and the first quarter of 2011.

On an annual basis to the end of March 2011 (four quarter on four quarter basis) it grew by 1.3%, although output in the construction sector fell by 3.6%.

Liz Smith, Scottish Conservative MSP for Mid-Scotland & Fife, said:

"This rise in GDP is welcome and is further proof that the UK Government's approach is working. Many were telling us that the measures taken were too far and too fast, however there is no doubt this is the right way to get Scotland back on its feet and to grow our economy, as these figures show.

"The fall in construction output will need to be addressed by the £16m Scottish Conservatives secured in the last budget, money which will help the construction industry by creating over 5,000 new jobs.

"Despite these broadly encouraging figures, we can do more. Last month's Global Entrepreneurship Monitor showed that fewer people are likely to start new businesses in Scotland than elsewhere in the UK. We must focus on helping entrepreneurs build new businesses and on supporting existing small businesses.

"We will continue to push for a Scottish Business Start Up Fund, which would support access to enterprise education and vocational training, and to provide grants and loans to assist in the creation of new businesses. We want to make it compulsory to offer enterprise training at all colleges and universities, in partnership with local businesses.

"Scotland must put its faith in our entrepreneurs so we nurture new businesses, design new products and create new jobs. Long-term, this is the best way to grow our economy."

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