NICOLA Sturgeon will today warn of the £1 billion cost of inequality and austerity on UK growth as she sets out the Scottish Government’s economic strategy.
The First Minister will put “equality and fairness” at the heart of the SNP’s plans to stimulate growth.
Recent research published by the Organisation of Economic Co-operation and Development (OECD) found that increased inequality had reduced the UK’s growth potential by 9 per cent, Ms Sturgeon said, ahead of today’s launch in Linlithgow.
Scottish analysis of this suggests UK GDP could have been nearly £100 billion higher in 2010 if the UK economy grew at this rate – equating to about £1,600 per person.
“Our economic strategy will set out a long-term vision based on one fundamental principal,” Ms Sturgeon said.
“By becoming a fairer society, we will also become a more productive and more prosperous society.
“We want to see economic growth that is inclusive, innovative and fairly distributed.
“For too long, our economy has been held back by rising inequality as a result of successive generations of Westminster economic policy. I have been clear that a key priority for this government is to tackle the blight of inequality.”
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