(S4F-01243) Business Growth

6. Stewart Stevenson (Banffshire and Buchan Coast) (SNP):

To ask the First Minister what actions the Scottish Government will take to assist growth in the business sector. (S4F-01243)

The First Minister (Alex Salmond): The Scottish Government is supporting and will continue to support business growth and innovation to the full extent of our current powers. Support for schools, colleges, universities and skills provides business with a skilled workforce and world-class research. A total of £564 million of relief has been awarded to Scottish businesses since the introduction of the small business bonus scheme, which I believe has been a lifeline for many of our small businesses across Scotland.

Stewart Stevenson: Has the First Minister noted the contrast between the growing optimism that is expressed through this week’s purchasing managers index, and international sentiment, which led to the downgrading of the United Kingdom’s credit rating? Can he indicate what that and the recent “Government Expenditure and Revenue in Scotland” report might have to tell us about Scotland’s prospects now and after independence?

The First Minister: We can confidently assume that the initials “AAA” will not be used by the bitter together campaign for a substantial time to come. The purchasing managers index is a helpful and welcome sign of economic recovery in Scotland. However, there are still serious problems across the economy, which is why it is important that next week focuses the mind and attention of the Chancellor of the Exchequer on following the consistent advice from this Government, the Welsh Administration and the Northern Irish Administration to bring about the investment, particularly the capital investment, that this economy badly needs to bring us out of the present economic conditions.

Now that one bit of the Tory-Liberal Administration is—well, I was going to be nasty, but I will not. “Better some sinners repenteth,” is what we have to say to the calls for increased capital investment by members of the coalition. Let us hope that they can carry their Tory members with them in the budget next week and that we can look for serious investment to get us out of economic recession.