Scots firms optimistic about impact of Brexit

Scottish middle-market businesses are the most upbeat about the long-term effects of Brexit on the UK economy, according to new data published by audit, tax and consulting firm RSM.

It said its Brexit Monitor index, in which any reading above 100 indicates that businesses are more optimistic than pessimistic, showed that Scottish business sentiment towards the prospects of the UK economy over the next five years rose from 107 in August to 122 in the last quarter of 2017. In addition, Scottish businesses were the most optimistic when considering the short-term effects on Brexit on their own business, with the highest overall positive sentiment at 128.

Robert Ross, RSM’S regional managing partner in scotland, welcomed firms’ “bullish” attitude, adding: “It will be interesting to see if this optimism remains following the recent Scottish Budget announcements that included significant tax reform.”