Firms ‘crying out for some sanity’

A new report says Scots firms are “crying out for the return of some sanity” as politicians dither over Brexit.

The latest Scottish Chambers of Commerce economic survey shows businesses still face difficulties due to uncertainty around the UK’s position in the EU.

Alongside rising costs and a global economic slowdown, businesses are being discouraged from investing or expanding in Scotland, says the report.

But despite a lack of clarity, Scottish firms appear to be getting on with the day job and showing resilience.

Tim Allan, chairman of the Scottish Business Advisory Group and president of Scottish Chambers of Commerce, said: “Businesses are weighing the costs of the chaos caused by more dithering over Brexit and the burden is severe.

“Our members are crying out for the return of some sanity as they undertake the important role of creating jobs and paying taxes.

“Whoever the next prime minister will be, they must take brisk action to unlock investment and instil confidence back into the UK economy.

“Scottish businesses need to see steps being taken to avoid a disorderly Brexit.”

Another report, by accountancy firm KPMG, also shows Scotland’s economy is facing “a widespread slowdown” in most sectors, as Brexit uncertainty and global headwinds take their toll.

The firm’s latest quarterly economic outlook indicates weak growth for the remainder of the year, driven primarily by depressed business investment as companies respond to Brexit uncertainty by continuing to delay spending.