CBI Scotland responds to latest GERS figures

Tracy Black, Director, CBI Scotland, said:

“Record North Sea revenues have provided a welcome uplift and showed the oil and gas sector’s continued importance to Scotland’s fiscal position. The ending of the Scottish Government’s COVID support for business through non-domestic rates, announced in late 2021, has also impacted on the overall balance sheet.

“Higher public spending has been necessary to help households and businesses weather rising energy and other costs since the Ukraine conflict began, but much more work is needed to support growth in the private sector.

“Providing the right framework for businesses to thrive by attracting and training the best talent is vital. This can be achieved by removing planning constraints, particularly for renewables and making improvements to infrastructure and connectivity.

“The First Minister’s inaugural Programme for Government in a few weeks’ time will be crucial to building business confidence and sustainable growth which are key to Scotland’s economic success.”