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Still think you can make it on your own? Scotland foreign investment PLUNGES as UK RISES

SCOTLAND has missed out on a foreign cash boom, fuelling fresh fears for the country’s economy.

Nicola SturgeonGETTY

The SNP has been asked to take action to combat effects of the threat of another referendum


Inward investment slumped north of the Border last year despite a record number of new deals across the UK.

Official figures show 108 projects were secured in 2015-16, down from 122 and 119 in the previous two years.

Cash poured in from a record 79 nations helping to create 82,650 jobs.

But Scottish posts were well below a proportional share at just 4,200 with the oil crash blamed.

The deals were all done before June’s Brexit vote.

Figures show Scotland’s economy had already officially flatlined before the EU referendum.

OIL REFINERYGETTY

Scottish posts have been low, with the oil crash being blamed


It stood still in the first three months of this year, manufactured exports have slumped, while the labour market continues to lag behind the UK as a whole.

The SNP must take immediate action to calm the uncertainty created by the threat of a second independence referendum

Scottish Tory economy spokesman Dean Lockhart

Scottish Tory economy spokesman Dean Lockhart said: “When taken with other economic indicators published over the last few months, it is clear that the Scottish economy is now consistently underperforming compared to the rest of the United Kingdom.

“The SNP must take immediate action to calm the uncertainty created by the threat of a second independence referendum and remove it from the agenda.”

UK International Trade Minister Lord Price said: “If you look at these figures, historically Scotland has fared really well, but the low oil price at the moment means that a lot of investment that might have gone into Scotland is being held up.”

Workers at a dockGETTY

Manufactured exports have slumped, while the labour market continues to lag behind the UK as a whole


“There is still a lot of pushing going on of Scottish projects, but the oil factor, I suspect, last year did have an impact on inward investment into Scotland.”

Scottish GovernmentGETTY

The Scottish Government is exploring all options to protect its relationship with the EU


Scottish Business Minister Paul Wheelhouse said: “The Scottish Government is exploring all options to protect our relationship with the EU and the clear benefits which come from being part of the world’s biggest single market.”

http://www.express.co.uk/scotland/705370/Scotland-economy-fears-misses-foreign-cash-boom

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