Accountants lack confidence in Scottish economy, ICAS finds

Nearly 80% of chartered accountants lack confidence in the health of the Scottish economy, according to a survey by the Institute of Chartered Accountants of Scotland (ICAS). 

In light of this, Scottish accountants have called for the government to take action to increase business attractiveness. 

The survey found that only 6% of ICAS members are confident in the current economic state. In contrast, 78% of respondents reported  they do not feel confident. 

This poll, which is the first conducted by the institute since the Scottish budget on 13 January 2026, identified a long-term economic and tax strategy as the primary priority for 63% of respondents. 

Support for business service sectors emerged as the second most popular priority. Members also highlighted the importance of vocational skills and workplace learning to improve long-term economic resilience.

The findings reinforce the ICAS’ response to the budget, having previously warned that incremental tax changes and short-term measures fail to provide strategic clarity for sustainable growth.

Gail Boag, chief executive of the Institute of Chartered Accountants of Scotland, 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.”

She added: “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.”