FOLLOWING this year’s Budget, The Herald will once again be hosting its annual free Budget breakfast briefing, to be held on 9 March at 200 St Vincent Street in Glasgow.
The event sponsored by Campbell Dallas, Indigo, Wright Johnston Mackenzie, University of Glasgo - Adam Smith Business School, and 200 St Vincent Street, will discuss and question the implications for the UK economy the morning after the chancellor announces the budget.
The morning briefing will be hosted by The Herald’s Iain Macwhirter and panellists include, Fraser Campbell, partner at Campbell Dallas; Peter Smyth, head of public affairs at Indigo, Graham Murray, partner at Wright Johnston & Mackenzie, and Professor Ronald MacDonald, research professor of macroeconomics and international finance (economics), University of Glasgow - Adam Smith Business School.
In the course of the discussion the panel is also likely to provide updates on key topics that will affect Scottish businesses and individuals. These topics will include personal and corporate tax considerations, welfare, property and the implications to Scottish businesses. Delegates attending will have the opportunity to direct important questions to the panel of experts from various different business backgrounds.
Peter Smyth, head of public affairs, Indigo, said: “Sandwiched just after the completion of the Holyrood budget bill and just before the triggering of Brexit talks, the Chancellor’s March statement will be eagerly anticipated by businesses leaders in Scotland keen to understand how these events fit together. For many the desire for more political certainty is a growing concern and some will be hoping for a low profile Budget, or at least one that shows the UK is open for business as the Article 50 announcement moves centre stage.”
Fraser Campbell, partner and head of family businesses at Campbell Dallas said: “With the current climate of political and economic uncertainty I would predict that the chancellor may look to the bigger stage and take further steps in making the UK a more attractive place for future inward investment. A strong, stabilising budget, providing tax breaks for smaller businesses would be a popular move and I will be looking at the detail closely to see if there are any further movements towards a widening tax gap between Scotland and the rest of the UK”.
Graham Murray Partner, Wright Johnston & Mackenzie LLP said: “Of course, much has changed both in the UK and globally since George Osborne delivered the last budget in 2016, and in these uncertain times, this year’s budget takes on added significance. We should expect Philip Hammond to move away from the austerity policies of his predecessor, although what this will look like in practice remains to be seen. Pensions remain the subject of much speculation and we will be watching closely to for any change in policy or direction here.”
Professor Ronald MacDonald, research professor of macroeconomics and international finance (economics), University of Glasgow - Adam Smith Business School said: “I think this should be one of the more interesting recent budgets in that it comes in the midst of the Brexit process. Will the Chancellor trade off more austerity for greater spending in areas likely to be hit badly by Brexit and will he find extra money for the health budget? There will also be a strong Scottish resonance from this budget given that the Smith Commission's tax changes are now fully in place.”
This free event will begin at 8am on Thursday, March 9 at 200 St Vincent Street in Glasgow. Register online to attend the event - www.newsquestscotlandevents.com/budget or contact Lynsay Wong on Lynsay.wong@heraldandtimes.co.uk.
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