While the Chancellor Phillip Hammond MP's safety-first budget was understandable in the context of Brexit, there was a lack of urgency about key measures to reinvigorate growth in the Scottish economy, according to SCDI (Scottish Council for Development & Industry).

Commenting on the UK Spring Budget 2017 announced this afternoon (8 March 2017), SCDI's Director of Policy & Place, Claire Mack said:

"While we welcome the indications by the Chancellor of future action and additional funding for the Scottish Government, SCDI is disappointed that there was a lack of clarity and urgency over UK Government support for key areas of the Scottish economy. This includes plans for the oil and gas sector and further city and regional growth deals in Scotland.

"While, overall, a safety first approach is understandable in the context of Brexit and the extra funding for UK innovation was positive, the Chancellor missed some opportunities to improve Scotland's competitiveness as the UK embarks on the process of leaving the EU. SCDI hopes that making progress in these areas is now given a high priority as the Industrial Strategy is developed.

"The measures announced on self-employment highlight a very significant structural change for the economy in employment practices, particularly due to new technologies, and SCDI will be discussing these issues with the Taylor Review as it develops its recommendations. This is sure to continue to be a major focus of discussion for future Budgets and the modernisation of employment law."  

 


SCDI's Blueprint policy Report 'From Fragile to Agile' - identifying Productivity, Innovation and Internationalisation underpinned by Infrastructure as key priorities for economic growth and prosperity - can be accessed here.