CBI Scotland responds to UK Budget

Tracy Black, Director CBI Scotland, said:

“This Budget builds on the Chancellor’s plan for stability and growth.

“CBI Scotland called for action on people and productivity and the government has delivered support for both. Measures to help households and businesses will secure the growth we need to boost living standards for all.

“Full capital expensing will keep the UK at the top table for attracting investment and puts us on an essential path to a more productive economy.

“New investment zones focused on economic clusters will drive growth across the country and increased support for quantum is a further step towards making the UK the science and technology superpower it aspires to be. Firms in Scotland eagerly await the details of where the Scottish Investment Zone will be located.

“Giving the go-ahead to carbon capture is an important step that will have the potential to keep the UK’s green growth story on track. With our closest rivals raising their game on green growth, moving further and faster in the months ahead is key.

“But with the Aberdeenshire bid still waiting to hear if they can move ahead with ambitious plans for carbon capture and hydrogen, swift confirmation on Track 2 projects is essential.”