12 December 2018

News

CBI Scotland responds to Draft Scottish Budget 2019

CBI Scotland has responded to the Scottish Government’s Draft Budget for 2019/20.

CBI Scotland responds to Draft Scottish Budget 2019

CBI Scotland Director Tracy Black said:

“Against a backdrop of Brexit uncertainty, and the fact that no deal remains a live concern, the Scottish Government faces tough choices ahead. Balancing ambitious spending plans with sustainable tax revenues isn’t an easy task, that’s why supporting the private sector to grow the economy is so essential.

“We welcome the fact that the Finance Secretary has listened to CBI Scotland and other stakeholders on business rates, scrapping the unhelpful out-of-town levy, capping the poundage rate and confirming the switch from RPI to CPI for the duration of this parliament.

“Scotland’s workforce is one of our greatest assets and we would like to see further detail on upskilling and retraining plans. Making use of the full talent we have available is key to boosting productivity and we’re encouraged by the Finance Secretary’s specific commitment to helping more women return to work.  

“However, with weak growth, demographics shrinking our workforce and Brexit continuing to cause uncertainty, the failure to close the growing income tax gap between Scotland and the rest of the UK puts added pressure on an economy already crying out for talent and investment.”

Full CBI Scotland Draft Budget submission