Home Economy “Scottish Growth Scheme a welcome reassurance for SMEs”
“The proposed cut in Air Passenger Duty will also be a welcome boon for business and tourism, coming so soon after the Edinburgh Festival has again offered a reminder of our desirability as a cultural hub…”
The new £500 million Scottish Growth Scheme announced yesterday (Wednesday, 7 September) is an important step towards restoring business confidence in the wake of Brexit vote but the Government must focus on delivering, says the Association of Chartered Certified Accountants (ACCA) Scotland.
Craig Vickery, head of ACCA Scotland, says that many businesses should welcome the support shown by Government: “The Scottish Growth Scheme will be a welcome reassurance to business, particularly SMEs, after the uncertainty of the past two months.
“With Brexit negotiations yet to begin it is vital that we continue to focus on and support Scotland’s strengths as a major centre for services and that we remain open for business with global trade partners as well as within the UK.
“The proposed cut in Air Passenger Duty will also be a welcome boon for business and tourism, coming so soon after the Edinburgh Festival has again offered a reminder of our desirability as a cultural hub.”
Yet Vickery also thinks that the Government needs to focus on maintaining stability in uncertain times: “We still do not have reliable information on how the Brexit vote has impacted on the UK economy.
“Yet we do know that two years of political uncertainty, including two referendums and a general election, has caused significant uncertainty for business about long-term investment decisions and dented confidence.”
“Now it is more important than ever for the Scottish Government to maintain stability and support for growth, whilst seeking to best represent Scotland’s interests on the global stage.”
Vickery also thinks that continued support for apprenticeships demonstrates a real commitment to Scotland’s future: “It is positive that the First Minister has identified government support for apprenticeships as an important boost to the economy.
“Yet we should also recognise that they are not job creation schemes but should represent vital investments in developing the necessary skills for young people to compete in the global economy for years to come: not just in construction or manufacturing, but also leading professional positions in finance and business.”