CBI Scotland responds to latest GERS figures

Tracy Black, CBI Scotland Director, said:

“While Scotland’s fiscal position has clearly worsened due to the impact of coronavirus, the simple fact remains that Scotland continues to spend considerably more than it raises in tax.

“With Scotland’s fiscal balance lagging well behind that of the UK as a whole, it’s clear that COVID-19 has served to exacerbate many of the weaknesses found in the Scottish economy pre-pandemic.

“Now, after an incredibly tough eighteen months, the Scottish Government must fully commit to making economic recovery their number one priority. With the Programme for Government just around the corner, it’s clear that there’s little room for manoeuvre due to the pressures on public finances.

“If the Scottish Government plans to launch a series of ambitious spending plans, this must be backed-up by consistent revenue generation. That means supporting enterprise to deliver the jobs and growth we need by taking steps to build public and business confidence in the recovery.

“Finding a way to live with the virus is key to that process. With the Scottish economy having spent so long in hibernation, the Scottish Government must do more to reassure consumers and workers that it is safe to go about their daily lives.”