UK economy suffering growth "doom loop", think tank warn

Independence essential to secure economic prosperity

The SNP has said "independence is the only way to secure economic prosperity for Scotland" - after a leading progressive think tank warned Britain's economy is trapped in a growth "doom loop".

The analysis confirmed business investment in the UK is lower than in any other G7 country, and 27th out of 30 OECD countries - ahead of only Poland, Luxembourg and Greece.

George Dibb, associate director for economy at the Institute for Public Policy Research (IPPR), has sounded the economic alarm bell, warning the UK risked falling even further behind its wealthy neighbours unless urgent action is taken.

He said: “The UK is experiencing a debilitating case of investment-phobia, and the government's aversion to investing to seize opportunities is stopping us from getting out of the growth doom loop we find ourselves in."

Commenting, the SNP's Social Justice spokesperson, David Linden MP, said:

"This latest analysis from the IPPR underlines the case that independence is the only way to secure economic prosperity for Scotland.

"Under Westminster control, Scotland finds itself outside the European Union, while the key economic levers are controlled by a government we did not vote for - causing financial harm to every aspect of our economy.

"And with the Tories and pro-Brexit Labour committed to their destructive Brexit ideology, there is no sign of a revival any time soon.

"Voters can be in no doubt that at the next general election, the SNP are the only party offering real change through independence - which will secure economic prosperity for all of Scotland."