Our response to the UK Autumn Budget

Posted: 30 October 2024, in News

Social Enterprise Scotland, the national membership body for social enterprises, has commented on the new UK Government budget announcement.

“The UK budget contains some good news, as well as some uncertainties,” said Chris Martin, Chief Executive of Social Enterprise Scotland. “We welcome the extra £3.4bn to the Scottish Government’s block grant, as well as the rise in the legal minimum wages and Carers Allowance.

“In particular, Employment Allowance has been raised. That means £10,500 off every small employer’s National Insurance Bill, up from £5,000, and this will impact many Scottish social enterprises positively.

“While we strongly support employees being paid well, we also appreciate that paying a real living wage, as well as rises in employer National Insurance contributions, must be recognised. This should always mean appropriate, matched increases in funding for social enterprises delivering public sector contracts and public services.

“In addition, all new capital investment and public spending must be rigorously geared towards achieving social value and community benefit.

“We look forward to hearing more about the planned ‘social impact investment vehicle’ and related initiatives.”