TAX FEARS GROW IN SCOTTISH ECONOMY

TAX FEARS GROW IN SCOTTISH ECONOMY

Fears over increased taxes and uncertainty over the impact of the Autumn Budget are hitting Scotland’s businesses.   The Scottish Chambers of Commerce’s survey flagged taxation concerns among 55% of businesses – up from 35% last year. Anxiety, particularly around Labour’s Autumn Budget, saw both the tourism and retail sectors…

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Key Scottish business organisations call on Chancellor to reduce tax burden on Scotch Whisky

Scotland’s leading business and sector organisations have called on Chancellor Rachel Reeves to reduce the tax burden on Scotland’s national drink in her first Budget on 30 October.   Scottish Chambers of Commerce, Prosper, Institute of Directors, Scotland Food and Drink, UK Hospitality Scotland and the Scottish Tourism Alliance have…

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CASHFLOW & PROFITABILITY DECLINE AS HIGH COSTS HAMMER BUSINESSES

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…

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BUSINESS GROUPS VOICE ALARM OVER SCOTTISH TAX POLICY

Sixteen leading business representative groups have jointly written to the Scottish Government’s Deputy First Minister & Finance Secretary, Shona Robison MSP, to voice alarm at the Scottish Government’s consideration of a new business rate surtax and what it means for wider tax policy towards commerce. The sixteen organisations represent a…

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SCC QUARTERLY ECONOMIC INDICATOR

INFLATIONARY CONCERNS EASE BUT REMAIN HIGH: Concern over inflation has fallen to 52% for this quarter – compared to 75% in the last quarter – and this is the lowest that concern from inflation has been in all of 2023. 52% is still 20 percentage points higher than the 32%…

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Scottish Budget Must Reverse Cycle of Low Growth

The Scottish Chambers of Commerce have urged the government to use next week’s Holyrood budget to incentivise businesses, investment and job creation to break the cycle of low growth. Business leaders have also called on Holyrood ministers to prioritise non-domestic rates relief and avoid additional income tax burdens. They have…

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SCOTTISH BUDGET Chamber Priorities for the Scottish Budget

Ahead of the Scottish Budget, Chambers of Commerce across Scotland have shared their priorities for the upcoming budget on December 19th, informed by feedback from across 13,000 members and right across the business community. A summary of these priorities can be found below. CHAMBER PRIORITIES Non-Domestic Rates Replicate the 75%…

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