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    KL1 Radio Local Radio for West Norfolk

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    EPISODE 35 OF THE FARMING SOCIAL HUB PODCAST

News

Economic recovery in Scotland kick started by lifting of Covid restrictions

todayOctober 14, 2021 3

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Economic recovery in Scotland kick-started by lifting of Covid restrictions

That’s according to a new report from The Scottish Chambers of Commerce

Scotland’s economic recovery has been kick-started by the end of Covid-19 restrictions in August, a new report has found.

The Scottish Chambers of Commerce (SCC) quarterly economic indicator report found an increase in confidence across all sectors in the third quarter of this year.

But uncertainty continues across businesses, with worries over the energy crisis potentially pushing prices up for firms, as well as tax and inflation worries.

Tim Allan, president of the SCC, said: “The survey results indicate that confidence and domestic sales are generally strong across all sectors surveyed, with expectations in line with improving economic forecasts that the Scottish economy should return to pre-pandemic levels in the spring of 2022.

“After what has been an extremely challenging past 18 months for Scottish businesses, many are now looking and working towards building back to a new normality.

“However, that progress is under significant threat with increasing concern over the emerging energy crisis driving up business costs, inflation and taxation, the cost of raw materials and shipping, all of which are fuelling uncertainty at a time when businesses urgently need confidence and certainty to continue their recovery from the pandemic.”

Published: by Radio NewsHub

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