Response to Chancellor’s Statement

Pictured: Economy Secretary Fiona Hyslop.

Responding to the Chancellor’s statement on further support for businesses, Economy Secretary Fiona Hyslop said:

“I welcome the further support announced by the Chancellor and the Scottish Government will pass all consequentials to businesses to help them through this challenging period.

“We now need urgent clarification from the UK Government on what funding will come to Scotland so we can provide support to businesses as quickly as possible.

“While extensive loans are welcome, we need to see substantial grant support and tax breaks to keep companies in business and people in jobs where possible, and a greater emphasis on supporting individuals and households.

“We are working hard to establish the best way for people and businesses to access the £320 million of funding we have already made available to help those most affected by coronavirus and will make an announcement on this shortly.

“I will continue to work closely with the UK Government and devolved administrations as this will require a coordinated UK response.

“I will give a statement to parliament tomorrow on the economic impact of coronavirus in Scotland and the actions we are taking to support businesses and employees during this worrying time.”