Economic recovery has started

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The UK economy is back on the right track according to Borders MP Michael Moore.

After the UK posted the strongest GDP growth figures since before the financial crisis began in 2007, growing by 1.9% in 2013, Mr Moore said: “These figures are a boost for hard-working people across the Borders.”

A recovering labour market, the World Bank and the IMF expecting higher global economic growth in 2014, inflation dropping to 2% from a peak of 5.2% in 2011, the GDP growth all point to a brighter economic picture.

“The economy has grown by 0.7% for the quarter and by 1.9% over 2013,” added Mr Moore. “This comes on the back of a sustained period of good news for the Scottish and UK economies.

“However, we still have a lot of work to do, as many people across the Borders are still being stretched. The economy is on the right track, but the challenge now is to broaden out the recovery through stimulating local business investment and encouraging more Borders companies to export.”