News Archive

Sectors

RBS Interest & Exchange Rate Forecast - 5th October

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

16/10/12

SCC Calls for Business Rates Freeze

Commenting on the news that CPI inflation has fallen to 2.2% and RPI inflation has fallen to 2.6%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 'Whilst it is good news that the headline rate of inflation is falling back towards the target of 2%, the important news for Scottish businesses is that the RPI rate of inflation has come down to 2.6%. This is the figure that the UK Government traditionally uses to calculate the annual inflationary increase in business rates, with the Scottish Government following suit. 'We believe that it is time the Scottish Government broke free from its self imposed shackles to the UK Government and took a bold step in protecting Scottish businesses from yet another inflationary rise. 'This year Scottish businesses have had to pay 5.6% extra in rates, based upon the unfortunate coincidence that RPI inflation in September 2011 hit a 20 year high price spike. This year, the Scottish Government have the opportunity to make up for this and deliver a much needed break to hard pressed businesses the length and breadth of the country by freezing business rates for 2013/14. 'Such a move would help to minimise costs at a crucial period for our economy and send a clear message to business that the Government understands their needs and is on their side.'

16/10/12

Latest DSEN Newsletter - October 2012

The Dundee Social Enterprise Network for October is now available. Read the newsletter here.

16/10/12

Clark Thomson Insurance Brokers Acquires J Hunter Insurance Brokers in Monifieth

Chamber member expands.

16/10/12

Skills Development Scotland Seeks New Board Members

Could you help drive a positive change in the development of skills in Scotland?

16/10/12

St Andrew's First Aid Expands

Desperate Dan dons uniform to support first aid training.

15/10/12

SCC Call for Urgent Clarity on Rail Services

Commenting on the news that the Department for Transport has scrapped the West Coast Main Line deal, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 'The fact that the Department for Transport has blundered on this scale is simply not good enough and the cost both to the public purse and to the private sector bidders is unacceptable. It is essential that the Department for Transport acts decisively to ensure stability in the provision of West Coast Main Line services and to ensure that the monumental mistakes made during this tendering process are never repeated. 'Scottish businesses need confidence that the civil servants responsible for developing and assessing bids have the professional knowledge and experience to do so properly. Equally we need to know that, as we enter the winter period, Scotland's cross border rail connectivity with England will be secure and reliable. 'With the ScotRail franchise approaching retendering, we also need assurances regarding its future and how the actions of the UK Department for Transport will affect the handling of this franchise renewal. 'Connectivity is essential for Scottish business and we need clarity from Government on this issue as a matter of urgency.'

15/10/12

No Signs of Any Economic Recovery as the Summer's Outurn is Worse Than Expected

Scottish Chambers of Commerce have released their Business Survey results for the third quarter of 2012. The survey, conducted in conjunction with the University of Strathclyde's Fraser of Allander Institute, reports a further and more widespread weakening in activity in the Scottish economy in the third quarter of 2012, and more cautious outlook for the fourth quarter with fewer signs of any upturn in business sentiment and activity. Garry Clark, Head of Policy and Public Affairs at Scottish Chambers of Commerce, said: 'Our latest survey suggests that many Scottish businesses experienced deteriorating business conditions in the third quarter and have revised downwards their expectations for the fourth quarter and first half of 2013. Once again, with few exceptions, demand remains weak and inadequate and the sense of an economy stagnating appears more widespread. 'The manufacturing sector reported, as expected, leaner times, with weaker trends in both domestic and export orders. Expectations as to the trends in orders for the year ahead are at their weakest for two years, with few respondents anticipating improving export activity as the slowdown in the international economy continues. 'The survey also reveals a marked summer downturn in the Scottish tourism sector. The combination of poor weather, impact of the Olympics on tourism numbers together with weak business demand and consumer uncertainty contributed to many respondents reporting a weakening in visitor demand, reduced visitor expenditure and an increased need to reduce room rates. 'Activity in construction remains depressed. We have consistently argued that increased capital spending is necessary to bring about the infrastructure improvements that Scotland needs in transport, energy generation and transmission. Governments need to take steps to bring forward and approve a programme of capital infrastructure improvements that will bring long term benefits to the Scottish and UK economies. Whilst the Scottish Government has had a strong track record in prioritising infrastructure investment, it urgently needs to reconsider its plans to axe £350 million of investment from its project to extend the electrification of the central Scotland rail network. Scotland simply cannot afford to throw such investment opportunities away. Also the Scottish Government's forthcoming Procurement Reform Bill needs to ensure that, in future, Scottish businesses reap more of the rewards from Scottish public sector contracts. 'At a UK level, it is now imperative that the Chancellor takes the opportunity to deliver a boost to capital investment in his Autumn Statement.' You can read the Business Survey here.

11/10/12