SFE responds to Scottish Government emergency budget review

Commenting on the review, Sandy Begbie CBE, Chief Executive, Scottish Financial Enterprise, said:

"Yesterday’s emergency budget review statement took place in the context of an unprecedented cost of living crisis and measures to help the most vulnerable in society such as the doubling of the Fuel Insecurity Fund and Scottish Child Bridging Payment are welcome. 

"We note that any decisions on devolved tax policies will not be taken until the Chancellor has delivered the Autumn Budget on 17 November, and the Scottish Government must balance support for vital public services with measures to ensure Scotland remains an attractive location to live, work and invest.  

 "The reality is, Scotland faces significant structural challenges such as a declining population and relatively low levels of productivity compared to the rest of the UK. We would like to see the Scottish and UK Governments working together on an ambitious strategy to stimulate sustainable, inclusive growth by focusing on where we have existing sectoral strengths and by supporting them, and their associated supply chains, to grow, innovate and create highly skilled, well-paid jobs. 

"Ultimately our ability to improve the provision and funding of public services, particularly for those in lower- and middle-income households, can only be achieved if we successfully increase our tax base over the long-term and adopt a laser-sharp focus on achieving sustainable, inclusive growth.”