A leading Scottish agency has scrapped its finance graduate scheme, prompting outrage among industry leaders.

The Scottish Enterprise has cancelled its Graduate for Business (GfB) internship scheme, reports the Herald, which catered to around 250 graduates a year.

About two-thirds of those graduates finished up being employed by the firms involved, and most of the remaining interns gained another job as a result of the placement, the news provider states.

Professor Kuenssberg told the Herald of his "devastation" at the scheme’s demise, claiming it was an "excellent and effective route for graduates to find jobs in the industry".

"It is sad this ground-breaking scheme is being eliminated at just the time England is adopting yet another good idea born and implemented in Scotland."

Professor Kuenssberg has called on Scottish Enterprise to rethink its decision.

The Herald reports that a replacement scheme has been promised by the agency, but details were "sketchy".

Meanwhile new figures released by the Recruitment and Employment Confederation indicate a return to hiring, with 94 per cent of employers not planning any further job losses and one in five expecting to add to their permanent staff over the coming year.

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