Supporting Scotland’s Economy During COVID-19

Pictured: Finance Secretary Kate Forbes.

Outlining the range of measures taken by the Scottish Government so far to help businesses and protect Scotland’s economy during the COVID-19 pandemic, Finance Secretary Kate Forbes said:

“We are going to great lengths to support businesses and are offering a package of support worth £2.2 billion which, as promised, will commit in full all the consequentials we received from the UK Government for business support measures.

“We have been very clear that every penny we receive from the UK Government for this purpose is going directly to support businesses.

“It is our responsibility to ensure this vital financial support helps as many businesses as possible, while also reflecting the nature of Scotland’s economy.

“Proportionately we have a higher share of employees in small and medium size businesses than England and the rest of the UK as a whole, so our funding has to adapt to that reality.

“Because of the decisions we have taken, hundreds more businesses are benefitting from our support compared with elsewhere and we have also been able to help sectors of the economy that are not being supported in other parts of the UK such as aviation, seafood fishing and fish processing, the creative industries and charities.

“We will continue to listen to the needs of businesses across Scotland to ensure they are receiving the maximum possible help and support.

“We would also urge the UK Government to recognise the greater level of support we require in Scotland because of the larger number of small businesses rather than allocating funding on population share.”