In common with Chambers of Commerce across Scotland, the Scottish Government has a clear focus on stimulating company growth, protecting and creating jobs and promoting Scotland as a great place to do business.
This focus on the economy and on the priorities of business has been made even more important as a result of the outcome of the EU Referendum. Scotland’s economy is fundamentally strong, but maintaining our place in the world’s biggest single market is absolutely vital when it comes to protecting jobs, investment and long-term-prosperity. Although I am confident that Scottish businesses will take advantage of new trading opportunities, the reality is that this uncertainty represents an immediate headwind to the economy and many businesses across Scotland.
That is why we have taken decisive and positive action to support our economy. While we work towards maintaining our relationship with the EU and retaining our place in the single market, it isn’t feasible to simply sit back and wait to see how those efforts work out. Instead it is crucial we act now, to support companies and communities across Scotland. That is exactly what the First Minister did through the £100 million stimulus package we are injecting into Scotland’s economy.
This additional capital funding for the current year will be used to speed up delivery of infrastructure projects, supporting jobs and keeping our economy moving in difficult times. We have also launched a dedicated service on (www.mygov.scot/eu-referendum-business) to provide answers to individual businesses on questions about the impacts of the referendum decision. We are also upgrading the way we interact with the Scottish Chambers and other business bodies, the STUC and the Scotland Office to ensure the business voice is ever present as we work through all the implications of the result and seek to protect Scotland’s priorities and interests.
These measures are important steps to bolster our business community and stimulate growth, building on the resilience that Scottish businesses have already demonstrated. Since the vote, I have engaged extensively with the business community, including the Scottish Chambers of Commerce, to emphasise that we are still firmly in the EU, and as the First Minister has made clear we are absolutely committed to Scotland maintaining its place in Europe, in line with the referendum result here, which saw a vote to remain by a clear 24-point margin.
Trade and business should continue as normal and we are determined that Scotland will continue now and in the future to be an attractive and a stable place to do business. Maintaining and strengthening our links with key European markets and continuing our efforts to boost Scotland’s exports will, therefore be a top priority. I recognise that Chambers of Commerce share that ambition and I am keen to forge a productive partnership in the weeks and months to come.
At the same time, we must not lose sight of the underlying strengths of Scotland’s economy. Our economy is characterised by high levels of employment, a highly skilled workforce, and – as a result of your efforts – a strong and diverse business base. These are just a few of the strengths that make Scotland the most attractive location for Foreign Direct Investment in the UK outside London.
On our part, we will continue to act to build on the strong foundations already in place across our economy. But we will also be looking for the UK Government to follow that lead and use the levers that remain at their disposal to provide further support for our companies and workforce. I believe that, if all levels of Government adopt a proactive, supportive approach for businesses, together we can deliver a bright future for Scotland’s economy.
Keith Brown MSP
Cabinet Secretary Economy, Jobs & Fair Work,
Scottish Government
