Chartered accountants in Scotland have lost confidence in the economy and called for tax cuts to make Scotland a more attractive place to do business.
A survey by the Institute of Chartered Accountants of Scotland (ICAS) found that just 6% of members were confident in the state of the economy. In contrast, more than three-quarters (78%) said they do not feel confident.
Nearly two-thirds (63%) of respondents said there was a need for a long-term economic and tax strategy.
“Scotland needs a lower tax environment, with incentives for businesses to locate here, to attract entrepreneurs and increase productivity,” said one ICAS member. “There also has to be much more emphasis on education and training to build an attractive employee base.”
Gail Boag, ICAS CEO, said: “Our findings reveal deepening concern among chartered accountants about the lack of a clear, long-term economic strategy for Scotland.
“ICAS members work at the heart of the business community as trusted advisers, so are witnessing first-hand how policy uncertainty and short-term changes are eroding confidence and transparency in the economy.
“With the Scottish elections approaching, the next Government must take decisive action beyond incremental tax tinkering and set out a more coherent economic vision. One that delivers tax stability, supports key growth sectors, and invests in skills to strengthen Scotland’s long-term competitiveness.”
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