Declining city centres risk Scotland’s top spot for investment

Higher income tax and the “visible deterioration” of city centres are risking Scotland’s position as the best place in the UK for inward investment outside of London.

EY, the accountancy and consulting giant, found there were 142 foreign direct investment projects announced last year, a rise of more than 12 per cent on the previous year.

It means Scotland is once again the leading nation or region outside of London for such activity.

However Ally Scott, the managing partner at EY Scotland, warned that the decline of city centres and income rate hikes under the SNP was jeopardising investment.

“We still hear frustrations from clients and the market that Scotland’s tightening economic policies, including the latest income tax hikes and issues around city and infrastructure