SFE responds to Scottish budget for 2022/2023

In response to yesterday's Scottish budget, Sandy Begbie CBE, Chief Executive of Scottish Financial Enterprise, said:

“This budget took place in the backdrop of the ongoing pandemic and the continued challenges that this brings to our economic recovery.

“In that context, SFE welcomes the extension of rates relief for businesses in terms of avoiding a ‘cliff edge’ but it is clear much more targeted support will be required if many of our SMEs are to successfully navigate the various challenges anticipated over the coming year. 

“The measures announced toward decarbonisation are a positive step in the right direction. We encourage the Scottish Government to be even more ambitious in its approach and work together with the financial services and energy sectors so Scotland can reposition itself as a global centre of green finance and accelerate our ability to meet net zero targets. 

“New funding for skills and training interventions are welcome to help tackle skills gaps and create good career opportunities for more people. However, greater collaboration with the private sector is needed to maximise the benefits of this funding by aligning it with the needs of businesses and supporting them to grow, innovate and invest.

“We believe it is important that the Scottish Government prioritises a tax and business environment that supports investment, jobs and growth and we will to make that case as we navigate a crucial time for our economy.

“We will always be a constructive partner to government and we look forward to continuing to work closely to ensure the full potential of our industry is being used to the benefit of the entire economy.