SFE responds to Autumn Statement

Following today’s Autumn Statement set out by the Chancellor of the Exchequer, SFE Chief Executive Sandy Begbie CBE, said:

“The Autumn Statement reflects the hugely challenging economic climate we find ourselves in, and we recognise the need to make difficult decisions in terms of tax rises while focusing spending on targeted interventions where they are most required like health, education, and means-tested energy support.

“The most effective approach to driving better living standards and funding for public services in the long-term is by creating sustainable, inclusive growth and improved productivity, delivering a highly skilled, high wage economy.

 “There are some welcome signs in this statement about how the government intends to achieve this ambition, including key changes to the Solvency II Regime and recognition of the role of financial services in stimulating growth.

 “The UK Government’s commitment to skills system investment is also positive, and we would encourage the Scottish Government to use its Skills Review to follow a similar path.

 “Ultimately, we would like to see the Scottish and UK Governments work together on an ambitious strategy to stimulate sustainable, inclusive growth by focusing on where we have existing sectoral strengths, supporting them, and their associated supply chains, to grow, innovate and create highly skilled, well-paid jobs."