Susan Love, Strategic Engagement Lead for ACCA Scotland, responds to the agreement of the Scottish Budget for 2022/ 23

Statement from ACCA Scotland about spending plans ahead.

Overview
‘While today’s spending plans set out a pathway of recovery towards a fair and green economy, the current cost crisis facing business risks choking off early signs of growth.

‘The budget sets out welcome investment in skills and meeting our net zero commitments, both of which are central to economic recovery. However, our SME Recovery Tracker research, published this week, highlighted the challenges facing small firms – with as many as a fifth potentially struggling to meet payroll costs come April. Many of those firms would have been hoping to hear more detail about what the Scottish Government would do to help lighten the load.’

On business rates
‘We warmly welcome the commitment to extend the business growth accelerator scheme to support energy efficiency measures. However, a number of businesses in the hospitality and retail sector, which fall outwith the scope of the Small Business Bonus Scheme, will be disappointed that there has been no further movement on the proposal to end current reliefs after only 3 months, at a time when they are grappling with a range of cost increases, including the return of a 20% VAT rate in April.’

– Ends –

For media enquiries, contact
Helen Thompson
E: helen.thompson@accaglobal.com
M: +44 (0)7725 498654
www.accaglobal.com
Twitter @ACCANews

Notes to Editors

About ACCA: ACCA is the Association of Chartered Certified Accountants. We’re a thriving global community of 233,000 members and 536,000 future members based in 178 countries and regions that upholds the highest professional and ethical values.

We believe that accountancy is a cornerstone profession of society that supports both public and private sectors. That’s why we’re committed to the development of a strong global accountancy profession and the many benefits that this brings to society and individuals.

Since 1904 being a force for public good has been embedded in our purpose. And because we’re a not-for-profit organisation, we build a sustainable global profession by re-investing our surplus to deliver member value and develop the profession for the next generation.

Through our world leading ACCA Qualification, we offer everyone everywhere the opportunity to experience a rewarding career in accountancy, finance and management. And using our respected research, we lead the profession by answering today’s questions and preparing us for tomorrow.

ACCA and CA ANZ have formed a strategic alliance for the benefit of members and to help shape the future of the profession. Find out more about us at accaglobal.com

"While today’s spending plans set out a pathway of recovery towards a fair and green economy, the current cost crisis facing business risks choking off early signs of growth. "

Susan Love, strategic engagement lead - ACCA Scotland