The latest Lloyds TSB Scotland Business Monitor reports that the Scottish private sector grew marginally in the first eight months of 2011, and that in the three months to the end of August export activity showed an acceleration to produce its second best result in four years.
Mr Swinney said: “Over the last four years, this Government has acted to support growth and tackled the challenges presented by the global economic downturn. This report suggests that our actions to strengthen Scotland’s recovery are working, with evidence showing an acceleration in export activity and marginal growth in the private sector. The Scottish Spending Review 2011 outlines actions to accelerate economic growth, increase capital investment, improve access to finance and to enhance economic security as a means to support confidence.
“We have set an ambitious target to deliver a 50% increase in exports by 2017 and our Economic Strategy outlines practical measures to ensuring Scottish businesses can seize on opportunities in new growth markets. This report shows very encouraging signs that export activity in Scotland is accelerating. The Scottish Government also needs greater access to the key levers of economic growth, such as corporation tax and borrowing powers. This would enable us to do even more to enhance investment and jobs in the Scottish economy, and give Scotland a major competitive edge.”