More evidence the Scottish economy is strengthening under the SNP

I’ve written already on these other indicators of our strengthening economy:

Scottish businesses showing signs of greater health than those in the rest of the UK

‘Fewer Scottish businesses failing in 2017’

 Robust Scottish economy apparent in significant increases in demand for professional staff

Yesterday we heard from Accountancy in Business (AiB) of another indicator of growing business health in Scots accessing debt solutions. In the fourth quarter of 2016-17 there was a 3.9% fall in bankruptcies. Also debtors paid off their debts in greater numbers at 423 compared with only 328 a year before. Personal insolvencies have more than halved in the duration of the three SNP administrations.

Minister for Business, Innovation and Energy, Paul Wheelhouse MSP, explained:

‘The number of people falling into financial difficulty and having to seek debt relief has been falling steadily for some time‎. These figures are the second lowest since 2005/06 at which time award of bankruptcy was reserved to the courts. Since then, access to bankruptcy for those facing serious financial difficulty has been simplified greatly and in this context today’s figures highlight the low levels of personal insolvency we have in Scotland‎.’ 

 By contrast we see this in the Guardian in October 2016:

 The number of people becoming insolvent across England and Wales leapt by a fifth in the third quarter of 2016, with experts warning that the numbers could continue to increase as the cost of living rises following the UK’s Brexit vote.

If it was the other way round you can be sure the Scottish Government would attract some kind of blame from our mainstream media, so some credit for this and the above other indicators of better business health must go to them.


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