ENCOURAGING SIGNS THAT SCOTLAND IS WEATHERING RECESSION.

ENCOURAGING SIGNS THAT SCOTLAND IS WEATHERING RECESSION.

9% FALL IN COMPANY INSOLVENCIES

CREATING AND PROTECTING JOBS STILL THE FOCUS

Commenting on official figures which show that the provisional number of company insolvencies compared with the previous recorded year MSP Rob Gibson – a member of the Scottish Parliament’s Economy Committee – said that the figures were encouraging and could hopefully indicate that Scotland is weathering the recession.

In the year 2007/08 the total insolvencies was recorded as 1,069. Provisional figures for 2008/09 have been recorded as 971 – a 9% fall from the previous year.

Rob Gibson said:

“While these are provisional figures and don't cover companies entering administration, this is an encouraging sign and hopefully an indication that Scotland's economy is weathering the recession.

"The SNP is doing all it can to support jobs and help businesses both survive and emerge stronger. That is what we are doing done through our economic recovery programme, which highlights more than 60 specific actions to help our economy.

“We are accelerating a capital spend of £350 million in total and intensifying our support for the Year of Homecoming to boost jobs in tourism. We have front loaded European funding and targeted it to maximise employment and output.

“And just last month Alex Salmond announced a further £95 million of funding to support thousands of people to get back into employment or stay in their current job as well as create 75,000 new training opportunities,

"We have also earmarked £150 million as the first step to establishing a Scottish Investment Bank to provide crucial support for the strong Scottish businesses who need help with their cashflow.

“These measures are designed to support thousands of jobs across Scotland though we also know that we must do more

“That is why the SNP Government is undertaking extensive engagement across Scotland by inviting the STUC, business organisations, local government, the third sector and Scotland's Faith Groups to help chart Scotland's way out of this downturn."