Resurgent Scottish economy in line for a four-year growth high

Scotland’s resurgent economy is in line for a four year high in growth - but it could be scuppered by a “no deal” Brexit, a leading think tank has warned.

But confidence among businesses north of the border about the future outlook has sunk to an all time low.

Economic growth in 2018 is on track to be at its highest rate since 2014 in Scotland , according to the Fraser of Allander Institute. It will growing by 1.4 per cent, followed by 1.5 per cent and 1.4 per cent in the following two years. 0 Graeme Roy says the economy has picked up

Graeme Roy, director of the Fraser of Allander Institute, said: “The Scottish economy has picked up after a challenging couple of years.

“In such uncertain times however, any assessment of the economic outlook must come with major health warnings.

“Whilst we don’t share the extremely negative view of some, we can say with some confidence that ‘no deal’ would be a substantial economic shock.

A report published by the Federation of Small Businesses (FSB) indicated that views among firms in Scotland as to whether trading conditions will improve or deteriorate, saw these crash to -32.6 points, down from -13.2 points. This is the lowest since Scottish figures were collected.