Salmon Scotland Supports Chancellor’s Growth-Focused Regulation Plan

Salmon Scotland, the trade body representing the UK’s largest food export, has welcomed Chancellor Rachel Reeves’ reported plans to urge regulators to prioritize growth over risks. Tavish Scott, the chief executive of Salmon Scotland, emphasized the importance of driving economic growth through regulatory reform.

Reeves is set to meet with various regulators, including the Competition and Markets Authority, Ofcom, Ofgem, the Environment Agency, and the Financial Conduct Authority, to encourage them to stimulate growth in their respective sectors by reducing regulations and fostering competition.

Salmon Scotland plays a crucial role in supporting 12,500 jobs in Scotland and contributing £760 million to the local economy. Scott highlighted the need for a balance between regulation and growth to ensure the sustainability and prosperity of the industry.

Chancellor’s Approach Reflects Need for Economic Growth

Scott emphasized the importance of economic growth in light of Scotland’s sluggish GDP performance, especially in rural and coastal areas. He noted that while regulations are necessary, they should not hinder job creation, investment, and innovation in key sectors like salmon farming.

With the potential to deliver £1 billion to the UK economy in the near future, salmon farming holds significant promise for local communities. Scott urged the Scottish Government to prioritize growth and job creation to address the long-term impacts of Covid-19 and Brexit.

Scott concluded by calling for urgent reforms to the regulatory framework governing salmon farming, to unleash the sector’s growth potential and contribute to the economic recovery of Scotland. By aligning with the Chancellor’s growth-focused approach, Salmon Scotland aims to drive prosperity and innovation in the industry.

For more information about Salmon Scotland, visit their website.