Too much of our economy is foreign owned

Jackie Baillie - 28 August 2018

Scottish Labour has called for an alternative economy policy that would see Scottish workers given the right to take over firms that are being sold-off or closed down, warning that the current system is in danger due to the unusually high amount of foreign ownership in Scotland.

In an opinion piece for Scotland on Sunday yesterday, Scottish Labour's economy spokesperson, Jackie Baillie, said that "We need to look at who owns the Scottish economy and why we are so vulnerable to external shocks – and why so much wealth leaks out from our country."

"Too much of our economy is foreign owned, liable to the whims of the balance sheet with no regard given to the impact closures can have on communities."

"The SNP’s cuts commission – the real long-term plan the nationalists have for the Scottish economy – proposes more foreign investment and ownership. This is a model which leaves Scotland vulnerable to global shocks rather than the solid foundations of an economy where working people have a real say." she said.... See more

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