News Archive

Sectors

SCC Reaction to Autumn Statement

Commenting on the Chancellor of the Exchequer's Autumn Statement, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 'The Chancellor has set out a stark picture of the challenges facing the UK economy over the next few years. It is clear that even if the Eurozone crisis is resolved quickly and effectively, UK growth is likely to flatline for another year at least and there is a very real threat that the economy may dip into recession once again. Whilst this is not uncommon following a deep recession, this underlines the need for Governments in London and in Edinburgh to get their policies right for business growth. 'This Autumn statement contains much to welcome. The decision to cancel January's planned 3p increase in fuel duty is good news, but an increase of 3p in August 2012 is still on the cards and it is time that the fuel duty escalator was abandoned once and for all. 'The National Loan Guarantee Scheme, intended to reduce the cost of borrowing by 1% for small and medium sized businesses is a positive initiative from Government and could boost borrowing for investment. We hope that this will operate as intended and that it will be available to businesses as soon as possible. Similarly the Business Finance Partnership could present a welcome easing of the credit squeeze being felt by many mid-size businesses. 'Significant additional infrastructure spend in England ought to result additional resources for the Scottish Government, as will the announcement of £1 billion in England to tackle youth unemployment. With the Scottish Government's Draft Budget for next year still out for consultation, this may open up the opportunity to further enhance the spending options for Scottish Ministers, with a clear focus required on supporting Scottish businesses and creating employment opportunities. 'On Business Rates, it is extremely disappointing that the Chancellor has continued with his plans to increase the business poundage rate by 5.6% in April, albeit with the introduction of a deferment scheme allowing businesses to defer 60% of this increase over the following two years. However, this presents the Scottish Government with a superb opportunity to counter this damaging decision by the UK Government and apply a lower increase to Scottish business rates next year. 'The Chancellor did hold out the prospect of future changes to employment and health and safety rules which could benefit small businesses and these moves would be extremely welcome. 'Overall, the impact on Scottish businesses ought to be positive, with some welcome measures to support lending to business in particular. The decision to ramp up Business Rates by 5.6% is one area of disappointing news, but the Scottish Government has the power to remedy this failing here in Scotland.'

29/11/11

Tayside Contracts Recognised by Awards

Chamber member is Excellence in Procurement winner.

29/11/11

RBS Chief Economist's Weekly Brief Available - 28th November

This week's Brief looks at how the Eurozone sovereign debt crisis is damaging growth. The RBS Chief Economist's Weekly Brief is available to download here.

29/11/11

Latest AAVO newsletter - 25th November

The AAVO newsletter for 25th November is now available. Read the newsletter here.

28/11/11

Local Architects Deliver Success

Local Broughty Ferry architects practice Nicoll Russell Studios has pulled off a major coup by winning seven awards on the same night at the Dundee Institute of Architects Awards.

24/11/11

RBS Interest & Exchange Rate Forecast - 14th November

RBS has published the Interest & Exchange Rate Forecast for October, and it's available to download here.

24/11/11

Bank of England Agents' Summary of Business Conditions for November published

The Bank of England Agents' Summary of Business Conditions for November has been published and is available here.

23/11/11

Clydesdale Bank's Teleconference Seminars

Recently Clydesdale Bank ran a teleconference seminar on the different ways companies can take advantage of capital allowances as a way of mitigating tax within the Care sector, and another one on the future of fraud within the Not for Profit sector.

22/11/11

RBS Chief Economist's Weekly Brief Available - 21st November

This week's Brief looks at the replacement of prime ministers by technocrats. The RBS Chief Economist's Weekly Brief is available to download here.

21/11/11

Back Business to Cut Unemployment

Commenting on the news that Scottish unemployment has risen by 5000 over the three months to September, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 'It is extremely disappointing that Scottish unemployment has risen for the second consecutive month. Whilst it is important to remember that our overall unemployment rate of 8% is still marginally below the UK average, the fact remains that economic conditions remain challenging in Scotland. Growth remains extremely shallow, business and consumer confidence are low and the potential fall out from the Eurozone crisis is of extreme concern. 'Against this background, it is important that Government continues to work to ease the barriers to business growth. Cost pressures must be addressed, starting with the impending increases in next year's business rates bills and mitigation of fuel prices. The Scottish and UK Governments must signal a clear timetable for capital investment in our transport infrastructure, our international connectivity must be developed through reining back on Air Passenger Duty and there needs to be a coherent plan to deliver superfast broadband to business and domestic customers across Scotland. 'Scotland cannot afford for skilled individuals to remain unemployed for any length of time and we need to give our businesses the support needed to get these people back into work as soon as possible.'

21/11/11

Rotaract Dundee Seeks Volunteers

Rotaract is an organisation for 18-30 year olds with clubs throughout the world. Part of the Rotary family, it enables members to meet people, try new activities, and make a difference in the local community.

21/11/11

Chancellor Right to Consider Help for First Time Buyers

Commenting on speculation that the Chancellor of the Exchequer may be considering introducing a Mortgage Indemnity Guarantee scheme for first time buyers in his Autumn Statement, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 'In many parts of Scotland, the housing market has been stagnant for some time, in large measure due to the fact that first time buyers are finding it increasingly difficult to get a foot on the property ladder. We all know that a first time purchase at the entry level of the market triggers a succession of moves further up the chain, resulting in increased business for retailers, tradesman and other providers of goods and services. Backing first time buyers is therefore an essential part of kick starting the economy. 'In the light of this fact, we would welcome any moves by the Chancellor aimed at making it easier for first time buyers. The use of the Mortgage Indemnity Guarantee to underwrite first time purchases could be a useful tool in helping to boost the housing market and also business for retailers and SMEs supplying and serving the housing market.'

21/11/11