CBI Scotland responds to Scottish Budget announcement

Tracy Black, CBI Scotland Director, said:

“While the Finance Secretary has outlined some helpful interventions for business, firms that have been working tirelessly to get back on their feet after two miserable years will be left with little to get excited about.

“The removal of the business rates cliff edge in April for hospitality, retail and tourism firms will be welcomed, however many will be disappointed that the government hasn’t gone further – particularly as uncertainty around Omicron gathers pace.

“Increased funding for employability is clearly a step in the right direction but much more detail is needed on how skills funding will help firms address immediate challenges. Ultimately, greater ambition is needed on upskilling and retraining if we’re to ensure workers are equipped with the skills they need for a modern economy.

“On green investment there were some welcome announcements around green jobs and just transition. However, failing to use the non-domestic rates system to incentivise private sector investment in low carbon infrastructure feels like a missed opportunity that could have helped Scotland push-on towards its net zero target.

“Overall, business shares the Scottish Government’s vision for a fairer, greener and more prosperous economy. Firms will be keen to see how the forthcoming National Economic Transformation Strategy turns ambition into action; setting Scotland on a path towards competitiveness, dynamism and productivity growth – which is the only sustainable route to higher living standards.”