RESPONDING to the measures announced by Chancellor Kwasi Kwarteng this morning, Ryan Crighton, Policy Director at Aberdeen & Grampian Chamber of Commerce, said:
“I think every business in the land shares the Chancellor’s ambition to bring in a new era of growth for the UK economy.
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“This is a bold and momentous intervention from the UK Government and it is now crucial that we see this package mirrored, in full, here to avoid Scotland losing its best talent and companies to the rest of the UK.
“For many, it is already more expensive to work or buy a home in Scotland – the Scottish Government must now ensure that Scotland doesn’t lag behind the rest of the UK as a high tax, low growth neighbour.
“For the North-east, the repeal of unpopular IR35 rules will be welcomed by the oil and gas sector, which relies on the flexibility offered by contractors.
“We also look forward to hearing more about how proposed investment zones could boost Scotland’s economy and what potential opportunities there could be for Aberdeen and Aberdeenshire.
“However, for all that was positive, we hope that this significant package hasn’t come too late. We are already seeing firms going to the wall in the North-east, crippled by a toxic cocktail of rising costs, labour shortages and high energy bills.
“For all its boldness, what was lacking today was a package to bring down costs, which is the most pressing pressure for most businesses.”
