Call for low interest rates and tax cuts to aid business growth

Speaking at the annual dinner of the Scottish Chambers in the centre of Glasgow last night, Ms Senior emphasised that the precarious nature of the economic recovery with the growth rate in Scotland now expected to fall next year.

She also pointed out many key export markets are facing an even tougher time and that the widening of the trade deficit in the UK is hampering attempts to rebalance the economy.

She told those attending the event at the Hilton Hotel that: "All of this reinforces the Chambers position that the [Bank of England's] Monetary Policy Committee should not raise interest rates in the immediate future."

Ms Senior, also president of British Chambers of Commerce and the executive chair for UK regions and Ireland at public relations firm Weber Shandwick, went on to suggest that the UK general election should not act as a distraction for businesses.

She said: "Whatever the outcome of the general election, we need governments across the UK to focus their attention on creating the best possible environment for growth, aspiration and enterprise.

"From a business perspective, Scottish Chambers believe Government decisions both at Holyrood and in Westminster must be relentlessly pro-growth.

"That means business policies have to be fit for the long term; local business communities must be empowered; and the machinery of national and local government has to work with and for business."

Among the areas Ms Senior would be keen to see greater focus on are better access to finance to promote long-term investment, policies to encourage more ­exporting and greater flexibility in procurement.

She also wants to see greater investment in infrastructure and mobile coverage. Alongside that there was a call for the burden on businesses to be reduced suggesting the Chambers campaign on business rates has seen around £200m of savings for companies this year.

Ms Senior said: "Government at both ends of the country also need to drive down business costs and taxes, because simplifying the tax system, particularly ­business rates and reducing the taxes firms pay even before they generate a profit, will boost businesses competitiveness, investment and jobs."

According to Ms Senior there continues to be a need for all sizes of business to invest in skills development and bringing through young business people.

She said: "Businesses can only perform as well as the people that start, run and work in them. To thrive, they need access to the right skills, in the right place, at the right time.

"A quality 'pipeline' of young people entering the labour market for the first time is essential, as are the tools to improve the skills of existing employees."

It was also announced at the event that an alliance has been struck between Scottish Chambers and Turkish Airlines.

That partnership is likely to lead to trade missions to Turkey which as well as looking at the economic potential of that country as an export market for Scotland will also take into account the links to the Far East which are provided through Istanbul.

Temel Kotil, chief executive of Turkish Airlines, said: "We are very happy to partner alongside Scottish businesses through the Chambers of Commerce and are looking forward to a successful future through strong business to business relationships."

Ms Senior said that exporting is a key way to grow the Scottish economy but much more can be done to support small and medium enterprises into trading overseas.

She said: "Scotland still has a long way to go before it fulfils its true potential on international trade. It is clear that more support is still needed to help Scottish businesses - both those that have not exported before and those looking to break into new and fast-growing markets overseas."