Edinburgh Cost of Living: Edinburgh West MP Christine Jardine calls for business support to cope with inflation

Edinburgh West MP Christine Jardine (Lib Dems) has called on more support for small and medium sized businesses.

In their quarterly economic indicator survey, the Scottish Chamber of Commerce found that a record high of 92 per cent of businesses were concerned about inflation. A recent study by BDO accounting found that a fifth of medium sized businesses believe the cost of living crisis presents a greater challenge than the 2008 financial crash and the pandemic.

The Liberal Democrats have called on the Government to cut VAT from 20 per cent to 17.5 per cent for one year to reduce inflation while still supporting business revenue.

Ms Jardine said: “It's almost impossible to overstate how worried businesses are. So many people who have built a successful livelihood for themselves and employees are telling me that inflation is causing them to fear that they may lose it.

“One hairdresser told me he has been quoted energy bills more than four times the amount quoted in the summer. That is outrageous and just underlines how serious the situation is.

“The Conservative Party has wasted months preoccupied with infighting and people now deserve the opportunity to choose whether they want them to continue with this chaotic government or not in a general election.

“It is also time the Scottish Government looks at ways of easing the pressure from business rates following the double whammy of Covid debt and the cost of living crisis. Both governments are failing British businesses at a time when many are not sure if they can stay afloat through the winter.”