Four in five Scots accountants lack confidence in health of Scottish economy post-Budget
“Our findings reveal deepening concern among chartered accountants about the lack of a clear, long-term economic strategy for Scotland” – Gail Boag, Icas
Just 6 per cent of Scotland’s accountants are confident in the health of the Scottish economy as “policy uncertainty and short-term changes” take their toll, a new survey has revealed.
In the first poll conducted by the Institute of Chartered Accountants of Scotland (Icas) since last month’s Scottish Budget, only 6 per cent of respondents said they were confident in the state of the economy. Almost four in five (78 per cent) reported that they do not feel confident, while the remaining 16 per cent were “neutral”.
When asked which areas the Scottish government should prioritise, nearly two-thirds (63 per cent) of the accountants quizzed identified the need for a long-term economic and tax strategy, making it the strongest area of consensus among respondents.
Support for Scotland’s business service sectors emerged as the second most popular priority, reflecting their central role in driving growth, productivity and employment. Greater emphasis on vocational skills and workplace learning followed closely, highlighting the importance of skills development for long-term economic resilience.
Icas said the survey findings reinforced its response to the Scottish Budget, which warned that incremental tax changes and short-term measures fall short of delivering the strategic clarity needed to support sustainable economic growth.
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Gail Boag, chief executive of Icas, said: “Our findings reveal deepening concern among chartered accountants about the lack of a clear, long-term economic strategy for Scotland. Icas members work at the heart of the business community as trusted advisors, so are witnessing first-hand how policy uncertainty and short-term changes are eroding confidence and transparency in the economy.
“With the Scottish elections approaching, the next government must take decisive action beyond incremental tax tinkering and set out a more coherent economic vision. One that delivers tax stability, supports key growth sectors, and invests in skills to strengthen Scotland’s long-term competitiveness.”
The survey results were based on responses from 250 Icas members. Its poll comes just a fortnight after it emerged that business confidence in Scotland had slumped to its lowest level in more than three years, amid ongoing uncertainty and waning economic growth.
Sentiment tracked by accountancy body ICAEW’s regular business confidence monitor, for the closing months of 2025, found that confidence north of the Border had decreased for the sixth consecutive quarter to a reading of -12.7, down from -0.5 in the previous quarter. It was the weakest confidence reading since the tail end of 2022 and below the UK average.
Meanwhile, nearly nine in ten private business owners in Scotland are confident about growth in 2026, according to KPMG’s latest private enterprise barometer, in line with the UK average.
The annual survey captured the perspectives of 1,500 privately owned businesses, including 119 in Scotland, from across various industries such as professional services, finance, technology, industrial manufacturing and retail.
Vishal Chopra, Scotland office senior partner at KPMG UK, said: “There’s a cautiously positive mood among Scotland’s private businesses as they head into 2026. Confidence in growth is there, but it’s more measured, reflecting both the ambition and resilience of the business community alongside ongoing challenges.”
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