Blackadders LLP has announced a raft of promotions across both its business services and private client teams in Scotland. The promotions are firm-wide and includes lawyers based in the Aberdeen, Dundee, Edinburgh and Glasgow offices.
Emma Sadler has been promoted to Partner in the Family Law team. Emma advises on all aspects of family law including divorce, cohabitation, pre-nuptial agreements and issues involving children. Emma has tutored on the Diploma elective for family law at the University of Strathclyde since 2020. She also recently completed training with the Scottish Women’s Rights Centre on domestic abuse.
Jack Boyle has been promoted from Director to Partner in the Employment team. Jack, who trained with the firm, provides advice on the full spectrum of employment law issues including employment contracts, restrictive covenants, disciplinary/grievance procedures, unfair dismissal, discrimination, TUPE and settlement agreements. Jack also appears in the Employment Tribunal. In 2023 he named as a Rising Star in The Legal 500 and ranked in Chambers as an Associate to Watch.
Other promotions across the firm are:
Business Services
Ian Angus, to Director, Rural Land & Business
Richard Wilson, to Director, Corporate & Commercial
Susan Currie, to Director, Dispute Resolution
Bethany Buchanan, to Senior Solicitor, Corporate & Commercial
Private Client
Joanne Murray, to Director, Family Law
Robyn Lee, to Director, Private Client
Faye Lipton, to Senior Solicitor, Family Law
Blythe Petrie, to Senor Solicitor, Private Client
Fiona Knox, to Senior Solicitor, Private Client
Cherrisse Sorrie, to Senior Solicitor, Residential Conveyancing
Emma Gray, Joint Managing Partner commented “We are committed to gathering the best talent we possibly can at Blackadders and to giving our clients access to a wide range of specialist lawyers and teams. We are proud to offer opportunities for career development and progression for people who show talent in the firm and we will continue to do so.”
The Blackadders’ board has introduced a 5 by 25 Strategy to ensure the firm is as well placed as it can be to benefit from any sustained upturn in the economy. The five initiatives the firm is aiming to achieve by the end of the 2025/26 financial year are:
- Increase turnover to £25 million
- Achieve a profit margin of 35%
- Be regarded as an employer of choice in the industry
- Act as a destination lawyer for clients
- Secure Blackadders’ position as a top five Scottish law firm.
More than 5,400 people took advantage of exclusive offers available only to residents within the City of Edinburgh Council area last year.
The Forever Edinburgh ‘Resident Rewards’ programme, which is run by the City of Edinburgh Council, partnered with over 50 local businesses to offer residents exclusive ‘Rewards’ with key leisure and hospitality businesses, visitor attractions, tours, and festive events around the city.
In 2023, the scheme saw an uplift of 195% in bookings of its monthly ‘Star Reward’ and an increase of 88% in the number of residents benefiting from the programme compared to 2022.
In the last year, it has helped residents to make a combined saving of £66,114.
More than 700 local kids enjoyed Camera Obscura for free in March 2023, while over 850 residents attended the Johnnie Walker Princes Street Experience with a 40% discount during their dedicated month.
Residents Rewards Edinburgh was launched in December 2021 to reconnect citizens with the city’s best leisure, food and drink, and cultural experiences. Edinburgh residents can enjoy high-value monthly rewards, special resident prices at key attractions, 12 months’ validity on entry tickets, special previews of upcoming events, and half-price and free entry to attractions at specific times in the month and year.
Last year, Forever Edinburgh enhanced the programme by introducing several new Reward offers including Resident Previews, Half-price & Free days, Annual Passes, and Resident Rates.
Since 2021, the Resident Rewards microsite has been viewed nearly half a million times and has also generated over 35,000 business leads, demonstrating the strength and potential of this market-leading programme.
Councillor Cammy Day, leader of the City of Edinburgh Council said: “It has been a fantastic year for Resident Rewards, with new businesses and brand-new attractions signing up to give back to Edinburgh residents. It’s wonderful to see so many people taking advantage of these exclusive rewards and exploring their own city for less. Whether you live locally or visit from halfway across the world, there is so much more to Edinburgh than many of us find time to discover. These rewards provide the perfect chance to try something new while supporting the local economy and I’d encourage other local businesses to get involved.”
Claire Riddoch, Marketing Manager, Camera Obscura & World of Illusions said: “Taking part in the Residents Reward was a great success for Camera Obscura & World of Illusions. We are always looking at ways we can work with our local partners and audiences to give back something in return for their loyal support, especially after the last few hard years of the Covid-19 pandemic.
“We were delighted to welcome just under 700 local children free during March 2023, which contributed to a 56% overall rise in children visiting compared to March 2022 and 33% of our total visitors were from Edinburgh and Lothians, up 16% on 2022.”
The scheme’s popularity has continued to grow, with the Resident Reward microsite now the 4th most popular page on The Official Guide to Edinburgh website. The programme is promoted through a targeted media campaign involving local partners such as Lothian Buses and Edinburgh Trams.
Resident Rewards is being fully funded by the UK Shared Prosperity Fund and funding has been secured until March 2025.
In April, residents can enjoy a 25% discount at the Escape Room in the Department of Magic through the Monthly Star reward. Then, in May they can take advantage of an exclusive 30% discount on tours at the new Port of Leith Distillery, Scotland’s first vertical whisky distillery located in Leith.
To unlock exclusive discounts and rewards as an Edinburgh resident, go to https://edinburgh.org/residentrewards/
Participation in this programme is free for local leisure and hospitality businesses. If you’re interested in joining and offering exclusive rewards to residents of the City of Edinburgh through your business, please reach out to the team at: residentrewards@edinburgh.gov.uk.
Astronomers have gazed at the stars for centuries, but a breakthrough from physicists at Heriot-Watt University and the University of Cambridge could transform their view of starlight, and what it tells us about the universe.
The Heriot-Watt and Cambridge scientists developed a powerful new tool to help astronomers find the telltale signs of hidden planets.
The technology could also improve our understanding of the universe by offering more sensitive measurements of how the universe is expanding.
The innovation is reported in the academic journal Nature Communications.
Blue-green breakthrough
The breakthrough hinges on the development of a laser system known as an astrocomb.
Dr Samantha Thompson, an astrophysics senior research associate at the University of Cambridge, said “This new astrocomb will enable astronomers to accurately study the spectrum of light from nearby stars in the hunt for Earth-like planets.
“When astronomers hunt for exoplanets with the Radial Velocity technique, they study the light from stars. Planets orbiting these stars cause the star to move, bringing about tiny changes in the colour of the starlight – if we can accurately measure those, we can discover and characterise new planets.
“For stars similar to our own Sun, most of this information is found in the blue-green part of the light spectrum, which we haven’t had such precise calibration for until now.
“This is a really exciting development that will enable us to study smaller planets on longer orbits than ever before – with the aim of discovering the first ‘Earth-like’ planet orbiting around a nearby Sun-like star.”
Professor Derryck Reid from Heriot-Watt University explains: “Astrocombs allow astronomers to make extremely sensitive wavelength measurements of the spectrum of light, potentially tens to hundreds of times better than conventional technology.
“Much like the millimetre scale on a ruler lets us measure distances precisely, an astrocomb gives astronomers a precision scale for measuring wavelength.
“Until now, astrocombs operated mainly in the green-to-red part of the spectrum of light, but the shorter-wavelength ultraviolet to blue-green region is rich in the atomic absorption features of interest to astronomers.
“Our new approach for the first time provides a continuous sequence of optical markers from the ultraviolet to the blue/green that serve as a precision wavelength scale in this part of the spectrum.”
A rock ‘n’ roll amplifier – but for starlight
The team has finally cracked the ultraviolet to blue-green part of the spectrum and proved that their innovation could be used in the field by astronomers.
“This is the first astrocomb with continuous coverage from the ultraviolet to the blue-green spectrum.
“We achieved this by using special devices that exhibit so-called ‘nonlinear optical effects’, which can dramatically change the colour of a laser beam if its power is sufficiently high.
“A nice analogy is in rock music, where audio distortion (‘nonlinearity’) is heard when the signal from an electric guitar is high, but not when it is lower. That distortion is simply new audio frequencies being created in the guitar amplifier: our devices do the same thing, but for light.
“Importantly, we’ve achieved a wide and continuous spectrum of ultraviolet to blue-green colours using a laser with remarkably low power, and of the same kind already in use in some astronomical telescopes.”
Professor Reid’s team at Heriot-Watt is developing the technology for the Extremely Large Telescope, currently under construction in Chile. They also work with astronomers in Cambridge, Uppsala and Capetown on astrocombs for telescopes in the Canary Islands and South Africa.
Thanks to a strong performance in 2023, the capital’s main public transport operator, Lothian Buses, will return dividends of £3.2m to its public sector owners for the first time since 2019.
Lothian’s strong year was headlined by an increase of over 17% in its passenger numbers, with the award-winning operator delivering for over 110 million customers in 2023.
Sarah Boyd, Managing Director for Lothian, said: “Lothian continue to contribute significantly to the local and wider economy, creating new job opportunities and consistently investing in the newest technology and vehicles to deliver for our people and our customers.
“A considerable team effort delivered strong operational and commercial performance across 2023 enabling the business to return dividends of 3.2 million pounds to our local authority shareholders.
“Our annual accounts for last year demonstrate continued recovery and growth since the pandemic, despite significant operating challenge and wider economic pressures.”
Councillor Scott Arthur, Transport and Environment Convener, said: “This demonstrates Lothian Buses’ ongoing, successful recovery from the pandemic, and the commitment all at the company have shown to get Edinburgh moving and our economy back on track. Receiving this dividend is a real turning point – I could not be prouder of them and all they do for Edinburgh.
“It’s amazing to have Scotland’s best bus service here in Edinburgh, and getting a dividend on top of that is incredible.
“Lothian’s resilience has seen passenger numbers grow significantly, providing reliable, sustainable public transport to millions each year, supporting our net zero 2030 goals. It’s thanks to this growth that they’ll be able to return dividends to the City of Edinburgh Council and the other minority shareholding councils, which will help us to improve transport in Edinburgh.
“In the coming year I will be doing all I can to ensure Edinburgh’s bus network remains attractive and reliable, and hope that helps underpin Lothian Buses’ continued success.”
2023 performance against the group’s key indicators includes:
• Patronage: 110m
• Revenue: £176.6m
• Dividend: £3.2m
Edinburgh College has an ambition to be at the cutting edge of environmental sustainability within the further education sector and aims to dramatically reduce its carbon emissions by 2030.
With over 27,000 students, staff and specialist engineering equipment across the four campuses, the College has similar energy requirements to a small town, so needed a radical approach to accelerate their net zero journey.
The College will be working with Vital Energi to decarbonise their entire heating infrastructure within Midlothian Campus, removing the existing fossil fuel system and replacing it with the latest renewable heating technology. When complete, the project will be responsible for 101 tonnes of carbon reduction per year.
The works, delivered through the Non-Domestic Energy Efficiency Framework (NDEE), will replace the College’s existing gas heating system with a new 640kW air source heat pump. An integral part of this is the existing secondary heating system upgrades which will be implemented alongside the heat pump to provide optimum system operation.
Kieran Walsh, Vital Energi’s Operations Manager (North & Scotland) said, “This is an ambitious carbon reduction project opting for full heat decarbonisation in a single phase without any reliance on gas. By swapping fossil fuels for renewables, the College will take a considerable step towards their carbon targets and the project exemplifies how electrification of heat can be implemented efficiently with secondary system upgrades.
“Edinburgh College has a renowned Engineering, Renewables and Energy Efficiency Training Centre, which will play a key role in addressing the low-carbon sector’s skills gap. We look forward to collaborating with the College to showcase an exemplary heat decarbonisation solution to their students who are the UK’s future engineers.”
The project is being delivered through the NDEE framework and comes with an energy performance contract, which guarantees certain key performance indicators, such as carbon reduction, will be met, giving the College the certainty that their new heating system will perform as promised.
Colin Mclaren, Edinburgh College Estates Services Manager, said, “We are excited to be working with Vital Energi to deliver this key project on the College’s journey towards net zero. The funding provided through the Scottish Government’s Energy Efficiency Grant Scheme has allowed us to fully implement decarbonisation at our Midlothian Campus, which is a pathfinder project for the sector.”
Audrey Cumberford, Edinburgh College Principal, said, “We are delighted to be working alongside Vital Energi to deliver such an important project for our College. We have a huge responsibility as one of Scotland’s largest colleges to lead from the front and play our part in addressing the climate emergency. This project is vital in reducing our carbon emissions and bringing us closer to our net zero goals.”
Thousands of UK businesses are breathing a huge sigh of relief after the European Union decided to lift a huge paperwork burden.
Since last autumn, companies exporting products containing iron and steel to the EU, have been required to provide ‘mill certificates’ to prove the elements did not originate from Russia. This proved either expensive or impossible for many UK businesses resulting in the loss of crucial export markets.
Following months of talks by the British Chambers of Commerce, with UK and European officials, the EU has now scrapped the paperwork requirement. Officials in Brussels have now designated the UK as a partner country on steel sanctions against Russia, meaning the certification paperwork is no longer needed.
Commenting on the announcement from the European Union, the BCC’s Head of Trade Policy William Bain said:
“Businesses up and down the country will be delighted at this outcome. A lot of hard work has got us to this position, which is strongly welcomed by the whole Chamber Network.
“We had many meetings and communications with both the UK government and the EU to highlight the negative impact the mill certificate requirements were having. In roundtables with senior officials, firms bravely described their experiences of ongoing lost orders and cash flow issues.
“Without those accounts from real businesses about the nature of the problem, and the need for a pragmatic fix, we could not have got this far. We’d like to thank to UK and EU officials for listening to the concerns of businesses and agreeing a solution.
“This is a big win for the collective power of our Chamber network. It’s a welcome boost for thousands of British exporters ahead of the Easter weekend.”
The UK’s only fully electric-powered gardening business has been able to make new hires and grow its business operations after accessing support from Business Gateway.
The Cycling Gardeners of Edinburgh, which offers a complete garden maintenance service delivered on cargo bikes by a team of independent gardeners, was founded in 2023 by Callum Ross, who wanted to combine his talent for gardening with his desire to be more sustainable.
Callum, who previously worked as an Operations Manager in the events industry, was keen to reinvent the way gardeners operate in Scotland’s capital city.
The business uses cargo bikes to travel and to transport materials and exclusively uses electric power tools. While the tools are more expensive than traditional petrol-powered tools, they are more sustainable, which chimes with the overall principle of the business. As well as its team of freelance gardeners, who are largely experienced horticulturalists, The Cycling Gardeners of Edinburgh is also hoping to employ young gardeners who may be new to the trade but who may not have their driving licence.
The team has worked with local organisations Spokes, Sustrans, and the Cargobike Movement to increase their knowledge of cargo bikes.
Looking for some inspiration on growing his business, Callum attended a Business Gateway-run Meet the Investors session where he was able to rehearse pitching his business and find out about the work Business Gateway does. It was this that inspired him to contact Business Gateway, and through that he met his adviser Jeff Hume.
Business Gateway has supported The Cycling Gardeners of Edinburgh in a number of ways, including helping them to employ an Operations Manager using Edinburgh’s Employer Recruitment Incentives (EERI) Scheme, using the research service to identify possible collaborations and improving their use of social media.
Callum Ross, Founder of The Cycling Gardeners of Edinburgh said: “I’ve found that having a personal contact in Jeff has been so helpful, and I’m safe in the knowledge that he can give us solid advice. Business Gateway has also supported us in applying for grant funding which has been so helpful to help keep our operations afloat.
“As a new business, it’s invaluable to have the support of Business Gateway and to know that they’re on the other end of a phone if you need.”
Jeff Hume, Business Gateway adviser said: “It has been fantastic to support Callum and the team to create this unique idea and watch it come to life. They’ve been able to determine a great niche for their company and it’ll be wonderful to see it bloom into something even more special.”
To find out more about how Business Gateway can help your business, visit https://bgateway.com.
Performers will travel from the USA, India, Switzerland, Australia, Canada, and the UK.
This August, The Royal Edinburgh Military Tattoo will welcome guests from around the world to experience its new Show, Journeys.
Performed on Edinburgh Castle’s iconic Esplanade between the 2 – 24 August, the Show will celebrate the journey of connection through music, dance, culture, and military traditions.
The Show will be the third under the Tattoo’s bold brand proposition, Performance in a New Light, and will follow the successes of the last two years Shows Voices and Stories. Journeys merges the traditional military elements that the Tattoo is known and loved for, with modern touches through creative projection, technology, costume design and music inspirations.
The Castle Esplanade will be filled with over 800 international performers from far and wide to showcase their epic Journey, through vibrant dance, music, visual artistry and so much more. Expressing their unique cultures, this Show will host talents from the USA, India, Switzerland, Australia, Canada, and homegrown acts from around the UK. Through an artistic odyssey, expect a wide variety of enthralling action featuring world-leading talent.
With the Royal Navy as lead service, the Show will pay homage to the seafarers that brave the ocean to travel across continents bringing people and cultures together. Discover the finest military talents as The Royal Edinburgh Military Tattoo guides you through a legendary journey.
As ever, the military will play a prominent role in the Tattoo, with the Fanfare kickstarting the Show with a performance of an original composition incorporating elements of the official march of the Royal Navy Heart of Oak imbuing the stage with an air of awe and anticipation. The Tattoo fans will be treated to the rousing sounds of the Massed Pipes and Drums including Military Pipe Bands from 1st Battalion Scots Guards, 1st Battalion Irish Guards Drums and Pipes, Pipes and Drums of the Royal Gurkha Rifles, Combined Pipes and Drums of The Royal Tank Regiment and Scottish and North Irish Yeomanry.
With a global reputation as one of the world’s leading military college bands, The Citadel Regimental Band and Pipes from the United States will transform the Edinburgh Castle Esplanade combining old school American dream thoughts with contemporary twists before an awe-inspiring moment with the United States Navy Ceremonial Guard take their place. All the way from Washington DC, they will immerse the crowd with an authentic silent Naval drill and weapon handling performance, often performed for Presidential occasions.
With a vibrant burst of energy and colour, Teamwork Arts India will showcase The Indian Rajasthani Bagpiper, The Bhangra Queens, and the Bollywood Ensemble. Majesticks Drum Corps from Switzerland will dazzle the crowd with a gasp-inducing display of light, fire, and precision drill.
From across the United States, the United States Sea Service Band brings together three US Marine bands to celebrate US music and its influence and is a true representation of the symbolic harmony that The Royal Edinburgh Military Tattoo embrace with the combination of smooth, enriching jazz and lively, energetic pop.
Keeping the Castle Esplanade alive, Tattoo Performers will return to the stage with an electrifying performance of Electro Pipes to pay tribute to the traditions of the host nation, whilst blasting into the 21st century with electrifying instruments, lighting, and projection bonanza.
Completing the journey in Tattoo style, the Royal Navy and Royal Marines will take centre stage as The Massed Bands of His Majesty’s Royal Marines perform the National anthem with the grand finale leaving audiences with memories that will last a lifetime.
Michael Braithwaite, Creative Director at The Royal Edinburgh Military Tattoo, said: “Journeys seeks to revel in adventure, particularly the many paths that bring our performers to Edinburgh Castle from around the world.
“Journeys is an expression of travel and discovery, the curious nature of humans that have brought us all together and formed the connections that embody the heart and soul of the Tattoo.
“It is through journeys, from military to civilian, that countries and cultures can come together and share their voices and stories through individual traditions and ceremonies”.
Jason Barrett, the Chief Executive of The Royal Edinburgh Military Tattoo, said: “The Royal Edinburgh Military Tattoo is a world-renowned spectacle and to have a chance to be in the heart of it is truly inspirational.
“The 2024 Show, Journeys, will transport guests on a cultural adventure, uniting our military heritage, Scottish tradition, and an international cast. With the Royal Navy as Lead Service, our show will have a strong maritime theme with performances by exceptionally talented performers representing countries with strong nautical connections.”
The full line-up for 2024 includes: The Massed Bands of His Majesty’s Royal Marines Pipes and Drums of 1st Battalion Scots Guards, 1st Battalion Irish Guards Drums and Pipes, Pipes and Drums of the Royal Gurkha Rifles, Combined Pipes and Drums of The Royal Tank Regiment and Scottish and North Irish Yeomanry, The Royal Edinburgh Military Tattoo Pipes and Drums, The Citadel Pipes and Drums, Australian Federal Police Pipes and Drums, Brisbane Boys’ College Pipes and Drums, Royal Canadian Mounted Police Pipes and Drums, The Royal Edinburgh Military Tattoo Dancers, The Royal Edinburgh Military Tattoo Fiddlers, The Citadel Regimental Band and Pipes, Majesticks Drum Corps, United States Sea Service Band, United States Navy Ceremonial Guard and Teamwork Arts India.
Tickets are on sale now and can be purchased at edintattoo.co.uk/tickets or on the phone, 0131 225 1188. The Show will run from 2-24 August 2024, with Presenting Partner, Innis & Gunn, offering a bar service at the event.
Like last year, tickets for 2025’s Show celebrating the 75th Anniversary of The Royal Edinburgh Military Tattoo will go on sale in August during Journeys.
Make sure to check out The Royal Edinburgh Military Tattoo taking Michael Portillo on a journey of discovery to connect with Edinburgh on The Great British Railway Journeys.
In this 15-part historical travelogue, season 15 of Great British Railway Journeys takes Michael Portillo around post-war Britain and the Britain of his youth. As he visited Capital City, the Edinburgh Castle Esplanade came alive as eighteen talented Tattoo Performers enthralled Portillo with their captivating performance, showcasing traditional Scottish and military heritage.
The first episode, which aired on BBC2 Monday 18th March 18:30, is available on BBC iPlayer and more information can be found on the website: https://www.bbc.co.uk/programmes/b00xgqxy. The episode that features the Tattoo will be broadcast on Wednesday 27th March, 18:30.
ScotLIS Sasines – Thursday 18 April at 10am
This webinar will give you an overview of the features available on ScotLIS when searching the Sasine register, including:
- A brief history on ScotLIS
- An overview of the Presentment Book & Minute book and the search options and features available.
- A walkthrough of the Sasine Register and what information is available on ScotLIS, demonstrating when a Sasine search links to the Land register.
- End to end examples of searching the Sasine registers highlighting the different features and functions on ScotLIS
Duration: 1 hour with question and answer session
Register for our ScotLIS Sasines webinar
- CASHFLOW & PROFITS DECLINE: Q1 has seen a significant downturn in cashflow and profits, with sizeable contractions recorded across four of the five sectors.
- RECRUITMENT CHALLENGES: More businesses are reporting challenges in recruiting staff, increasing to 47% for the quarter compared to 40% in the last quarter. However, recruitment intentions remain stable for the next quarter.
- MORE PRICE RISES ON THE HORIZON: More firms are indicating that they will raise prices this quarter compared to last, rising by 10 percentage points to 50% of all firms.
- COST PRESSURES RISING: The leading cost pressures remain labour costs (76%), energy costs (60%) and raw material prices (44%), with more companies raising concerns specifically on labour and energy costs.
- INVESTMENT STILL FROZEN: Over half of firms have reported investment freezes and do not expect this to change next quarter due to economic uncertainty.
Stephen Leckie, President of the Scottish Chambers of Commerce said:
“The latest insights from Scottish business underscores the extreme cost pressures facing companies in all sectors. The persistently high cost of doing business is hammering cashflow and profitability which will hit the economy in the long-term.
“The operating environment – nationally and globally – is exceptionally challenging. “Geopolitics has moved up the agenda in boardrooms underlining the critical role governments will continue to play to ensure smooth trading conditions. Red Sea disruption, unresolved global conflicts and emerging concerns on data sovereignty are live issues businesses and communities require clarity on.
“Despite this, Scottish businesses are showing signs of resilience with business confidence and recruitment intentions remaining stable for the next quarter.” On Tax, Stephen Leckie, said:
“Closer to home, businesses continue to express major dissatisfaction with tax policy direction from Scottish and UK Governments. Businesses are concerned about the impact of income tax divergence between Scotland and rest of UK in attracting and retaining talent. Scotland’s additional regulations such as the tourism tax is also a cause for concern which is increasing the cost of doing business.
“The message from businesses is clear: we need Governments north and south of the border to reduce the tax burden.”
On the Labour Market, Stephen Leckie said:
“More businesses are struggling to find and secure the skills and talent they need with recruitment difficulties significantly increasing over the quarter.
“The planned increase in the national minimum wage, whilst welcome for workers, will heap extra costs on the most vulnerable sectors such as hospitality and leisure explaining why labour costs is the number one cost pressure this quarter.
“Changes to the UK immigration system also threaten to harm Scotland’s attractiveness, with a planned 50% rise in the minimum salary threshold for a Skilled Worker visa from April.
“This policy alone will make it impossible for many Scottish businesses to hire international staff as the salary threshold is far higher than Scotland’s average wage. The UK
Government must adopt a business-friendly approach which aligns with Scotland’s economic needs.”
On Investment, Stephen Leckie said:
“Investment remains a significant cause for concern. Over half of firms have reported investment freezes and do not expect this to change next quarter due to economic uncertainty.
“The challenges highlighted in the survey are a perfect storm impacting investment decisions: recruitment challenges, tax burdens, weak cashflow and declining profits. “Firms needs a clear framework to attract capital investment in areas such as housing. This should also include reducing regulatory burdens, quicker planning decisions and targeted incentives.”
Commenting on the survey results, Professor Mairi Spowage, Director of the Fraser of Allander Institute, said:
“Economic data in early 2024 is showing that the economy is likely to be recovering hesitantly as expected, following the contractions in growth in the final part of 2023. “Some of this positivity is reflected in the survey published today. Despite some of the headwinds reported by businesses – including increasing employment costs – business confidence is still in positive territory. There are clear sectoral differences, as might be expected, with the retail and hospitality sector in particular having a subdued set of results. The increase in the national minimum wage coming in April, while positive for workers, is likely to impact particularly on these sectors.
“The verdict of our assessment chimes really well with the results from the survey today: that things are difficult, but that there are both signs of and hope of improvement.”
