PRESS RELEASE – AUTUMN BUDGET – Comment from Bryan Buchan, Chief Executive.

Autumn Budget comment from Bryan Buchan, Chief Executive.

“It would appear that most of the benefits from the Chancellor’s Autumn budget will apply only to England, as we in Scotland will have to wait for another month to see how our Cabinet Secretary for Finance, Derek MacKay MSP, can compete.

“Will he, for example, use the £2billion extra from the UK Government to increase the personal allowance before tax to £11,850 or increase the higher taxation threshold to £46,350?

“It would be a worthwhile gesture if he were to offer the equivalent of £40million to train more maths teachers and be prepared to grant schools the equivalent of £600 for each pupil who takes Higher Maths or begins a core maths course.

“Where we will be affected, though, depending on how it will impact on the engineering manufacturing industry, is the £220million Clean Air Fund for cities throughout the UK.

“SMEs throughout Scotland will benefit from the fact that the VAT threshold will remain at £85,000 and the £2.5billion fund to unlock investment for emerging UK businesses along with the £500million investment in artificial intelligence, 5G and Broadband should benefit our growing industries.  I doubt, however, that our industry will be much affected by the increase in the national living wage from £7.50 to £7.83 an hour.”