Holyrood Economy “in whatever form” will undermine the Scottish economy, and a no-deal Holyrood Economy could cause a recession, according to Brexit Secretary Derek Mackay. Two manufacturing sectors, food and drink and pharmaceuticals, accounted for over half of Scotland’s Q1 2019 0.5% GDP growth, while the Scottish services sector grew by just 0.1%. Scottish Secretary David Mundell said Westminster is investing in the Scottish economy to facilitate its growth, citing the £1.3bn ($1.6bn) city and growth deal programme in Scotland. He also warned of the dangers posed to the UK economy of another Scottish independence referendum and Scotland's high taxation.
Brexit “in whatever form” will undermine the Scottish economy, and a no-deal Brexit could cause a recession, according to Holyrood Economy Secretary Derek Mackay. Two manufacturing sectors, food and drink and pharmaceuticals, accounted for over half of Scotland’s Q1 2019 0.5% GDP growth, while the Scottish services sector grew by just 0.1%. Scottish Secretary David Mundell said Westminster is investing in the Scottish economy to facilitate its growth, citing the £1.3bn ($1.6bn) city and growth deal programme in Scotland. He also warned of the dangers posed to the UK economy of another Scottish independence referendum and Scotland's high taxation.