Late last month, the latest business investment figures for Scotland were published – with a reported fall of 15% over the year.
Are these figures the result of Brexit uncertainty?
If the latest business surveys are believed then this is quite likely in some instances. But a look at the data from well before the EU Referendum reveals that low levels of investment have been a feature of the Scottish economy for years.
Brexit can’t be blamed for every structural challenge that we face.
Initiatives to boost the supply of finance are to be welcomed. But it’s not entirely clear that this is the greatest barrier. In many instances, it is the demand for finance that needs to be developed and supported.