Business News Round Up (28/04/2026)
Eight in ten accountants oppose tax policies
Low confidence in the Scottish economy and its tax system is holding back investment and job creation, according to a new report. A pre-election survey by the Institute of Chartered Accountants of Scotland found that about 80% of respondents were unhappy at the state of the economy or current tax policies. In its report, ICAS lays bare the challenges facing the incoming government and demands more focus on skill, tax and financial literacy. “Scotland has higher economic inactivity than the rest of the UK,” it says. “Its education system is under pressure, with international rankings moving in the wrong direction over the last 15 years. Economic growth is stagnant, with little improvement expected next year. On top of this, global instability is creating new doubts about Scotland’s future economic strength and security.”
UK industrial heartlands exposed as energy shock deepens amid global conflict
The UK’s industrial geography is being laid bare by a new wave of global instability, with energy price shocks and supply chain disruption disproportionately hitting the country’s manufacturing heartlands. Fresh analysis from Centre for Cities shows that more than one in ten jobs in Derby and Sunderland are in energy-intensive industries, placing them among the most exposed locations in Britain as costs surge. Derby tops the list, with 11.7% of its workforce, around 16,500 jobs, tied to sectors such as advanced manufacturing and engineering. Sunderland follows closely at 11.5% (13,600 jobs), with other highly exposed locations including Blackpool (8.8%), Plymouth (8.2%) and Burnley (8.1%). In contrast, cities such as Cambridge (0.3%), York (0.5%) and London (0.6%) have far lower exposure, highlighting a clear divide between service-led economies and those reliant on energy-intensive production.
Business Rates debate intensifies ahead of Scottish Parliament Election
As Scotland prepares for the Scottish Parliament election on May 7, 2026, the contentious issue of Business Rates has emerged as a significant point of policy debate among the nation’s political parties. Businesses across Scotland are grappling with the aftermath of the 2023 revaluation of non-domestic properties, which saw steep rises in rateable values and, consequently, bills for many enterprises. This has spurred a consensus among various stakeholders that systemic change is urgently required. Non-domestic rates, commonly known as Business Rates, are a property tax levied on commercial properties by the Scottish Government and collected by local councils. The amount businesses pay is determined by their property’s rateable value – a notional annual rent – multiplied by a national poundage rate. Revaluations, conducted every three years, aim to align these values with market conditions.
RBS and University of Edinburgh form new alliance to boost Scotland’s boldest startups
In a significant boost for Scottish startups, Royal Bank of Scotland (RBS) has announced a new partnership with the University of Edinburgh to combine entrepreneurship expertise. The new partnership will build on the existing close relationship between Scotland’s largest bank for business and one of its largest universities. A dedicated member of Bank staff will work with the University’s AI Accelerator programme team to provide strategic coordination between University of Edinburgh entrepreneurs, academic innovation teams, and the Royal Bank Accelerator community, driving growth, insight and commercial impact. Building on years of collaboration and a shared commitment to Scotland’s entrepreneurial and research-led growth, the new facilities and renewed partnership bring an expanded programme of support for Scottish entrepreneurs, as well as for alumni, staff and student founders.