Onshore GDP contracted 0.5% in a month, figures show

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “This includes almost tripling capital investment in the offshore wind supply chain to £150 million in 2025/26 and providing funding for the Scottish National Investment Bank and our enterprise agencies.” Ms Forbes said the Chancellor’s decision to raise employers’ national insurance contributions will have a “damaging” impact on the economy. We are deeply concerned by the potential impact of the UK Government Budget, with higher national insurance employer contributions likely to have real and damaging consequences for businesses Kate Forbes The tax rise was announced in October and will take effect in April. Ms Forbes added: “Many factors are outside the Scottish Government’s control and we are deeply concerned by the potential impact of the UK Government Budget, with higher national insurance employer contributions likely to have real and damaging consequences for businesses.” A UK Government spokesperson said: “The Budget delivered more money than ever before for Scottish public services and the Scottish Government receives over 20% more funding per person than equivalent UK Government spending. “It will also receive additional Barnett funding on top of this record £47.7 billion settlement as part of support provided in relation to changes to employer national insurance.”