Reeve’s urged to use the Budget as a ‘turning point’ for businesses

The Scottish Chambers of Commerce has sent Rachel Reeves a letter ahead of next week’s Autumn Budget warning that hiring costs are through the roof.

The Scottish business network is urging the Chancellor to use the Budget on 26 November as a “turning point” for businesses as they are warning they are facing a perfect storm of rising costs.

Their economic survey found that business confidence is at an all time low and there is a lot of uncertainty and investment is on hold.

Liz Cameron, director and chief executive of SCC, said, “Firms across Scotland are ready to invest and grow, but a complex and costly policy environment is holding them back.

“We hear all too often that firms want to invest in their premises and people, but that the spiralling cost burden has seen investment intentions shelved.

“This Chancellor needs to make this Budget a turning point for businesses.

“The measures we’ve outlined will unlock investment, drive innovation, and create jobs in every region of the UK. Bold, evidence-led decisions today will secure growth and prosperity for decades to come.”

Dr Cameron said, “The message from Scotland’s business community is clear: we’re ready to invest, innovate, and create jobs. Now we need a Budget that matches our ambition, and takes the necessary steps to restore business confidence.

“With the Scottish Budget due in January, we urge both governments to work together to deliver a settlement that unlocks the full potential of Scotland’s businesses.”