Business confidence in Scotland reaches highest in UK under John Swinney

SINCE John Swinney became First Minister business confidence in Scotland has risen to become joint highest in the UK, according to a monthly poll.

The regular business barometer from the Bank of Scotland found that optimism about the business sector in Scotland had increased by 15 percentage points in May.

It bring overall business confidence in Scotland to 57% – the same as the southeast of England and higher than any other devolved nation in the UK.

Confidence in trading also saw an increase of 16 percentage points to 60% and more firms said they intended to hire additional staff within the next 12 months.

READ MORE: D:Ream to deny Labour use of Things Will Only Get Better

It comes after Swinney and Deputy First Minister Kate Forbes made clear their commitment to boosting economic growth in Scotland.

During a speech to business leaders at the Barclays Campus in Glasgow last month, Swinney said: “There is no conflict in my mind, or in the priorities of my Government, between eradicating child poverty and boosting economic growth.

“For me, and for my Government, eradicating child poverty and boosting economic growth, go hand in hand.

“Reducing poverty boosts spending power, improves productivity through a healthier workforce, and leads to greater and more equal labour market participation.

READ MORE: John Swinney warns of ‘austerity on steroids’ from Labour

“Boosting economic growth creates the opportunities for people to participate in our economy and valuable, skilled employment that brings fulfilment to individuals and those that they support.

“Lifting children out of poverty – and giving everyone the opportunity to get on in life – is not just the right thing to do but it is an approach in line with the values I bring to Government.”

Martyn Kendrick, from the Bank of Scotland, said: “Along with longer nights and warmer days, summer is ushering in a new wave of confidence among Scottish businesses.”

The research was conducted before the General Election was called.