ICAS members call for income tax and NI reform after Scottish election

A post-election ICAS member poll (12–20 May 2026) found chartered accountants view Income Tax and National Insurance as the top priorities for reform, with 39% selecting them. Respondents — from 419 completions — flagged fiscal drag from frozen thresholds as eroding household spending power and weighing on business activity and investment. The survey signals fragile economic confidence in Scotland and urges the new Scottish Government to use its first six months to set out a credible long-term growth and public‑finances strategy. For markets, sustained weakness in consumer spending, skills shortages and a rising budget deficit could dampen UK economic momentum and investor appetite, creating downside risk to UK equities such as the UK 100 until policy clarity reduces uncertainty.