SFE statement on the Scottish Budget

Commenting on the Scottish Budget announcement today, Graeme Jones, Chief Executive of Scottish Financial Enterprise, said:

“Today’s statement marks the first stage in the budget process, and Scottish Financial Enterprise have made clear that we are willing to engage with the Scottish Government to ensure the interests of our diverse membership are understood and reflected.

“We appreciate that there is a debate about the right level of taxation needed to support economic infrastructure and quality public services, but Scotland must always be a competitive place in which to do business and support employment, and today’s announcement on tax rises raises concerns in this regard.  It is important that Ministers recognise this and work to ensure that we continue to attract investment and retain the very best talent in the Scottish financial services sector.”

Notes to Editors

  • Scottish Financial Enterprise is the representative body for financial services in Scotland.
  • The diversity of SFE’s strong membership reflects Scotland’s position as a leading European financial centre; second only to London in the UK.
  • The financial services industry makes a significant contribution to the Scottish economy, employing over 141,000 people, contributing 8% of the GVA and providing £8 billion of lending to Scottish SMEs