Growth plan, funding and education for SMEs
While some of the Chancellor’s recently-announced tax cuts will not apply to Scotland, the plans – and particularly details on government, spending due to be in a UK Budget in late November – undoubtedly have implications for the Scottish Budget.
The Scottish government, which has responsibility for setting bands and rates of income tax, is due to set out its plans for income tax (and other devolved taxes, including the Land and Buildings Transactions Tax) in its draft Budget in early December.
However, the acting Cabinet Secretary for Finance, Deputy First Minister John Swinney, has announced that an emergency Budget review will report in the week beginning 24 October. This is expected to provide further details on how the Scottish government will address a predicted £500m shortfall in spending, as well as addressing the ‘cost-of-living’ crisis.
Adding to facilities in Edinburgh, Aberdeen and Kilmarnock, Barclays has now launched its latest Eagle Lab facility at the new Barclays campus in Glasgow. Eagle Labs offer SMEs with scale-up ambition access to mentoring, growth programmes and funding advice. Find out more.
Carrying on our work on the impact of poor payment practices for small businesses, we are undertaking a roundtable discussion in Westminster with MPs and the Small Business Commissioner in late October. Got feedback on worsening payment times? Let us know your feedback ahead of the meeting. Drop a line to susan.love@accaglobal.com and respond to our short survey.
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