For Sceptical Scot John McLaren weighs options, opportunities, obstacles and highlights an oddity in the Muscatelli ReportAnton Muscatelli’s report for the Scottish Labour Party on Regional Economic Development in Scotland is, as you would expect from such an experienced economist, a very thorough analysis of what needs to be done to improve the economic performance across … [Read more...] about #MuscatelliReport: is Scotland ready for radical action on regional economic development?
scottish economy
Independence, GERS and how not to have a debate
With the dust settled on another GERS bun fight, what next? For the uninitiated, GERS is the annual ‘Government Expenditure and Revenue Scotland’ publication by the Scottish Government. This year it has figures up to 2024-25. In effect, it tells us what Scotland’s fiscal balance - government revenues less public expenditure - is under current constitutional conditions. And at … [Read more...] about Independence, GERS and how not to have a debate
Higher budget deficit driven by devolved spending
The estimates of Scotland’s net fiscal balance are out for 2024-25. As we previewed, there was deterioration of the fiscal balance, which is unsurprising given that the UK’s fiscal balance worsened during that year as well. Scotland’s estimated net fiscal balance was estimated to have been -£26 billion, or -12% of GDP, when including a geographical share of North Sea revenues … [Read more...] about Higher budget deficit driven by devolved spending
The spending rollercoaster is well and truly back
Rachel Reeves has delivered the outcome of the Spending Review for both resource and capital budgets across departments and devolved administrations.It was a speech long on detail about many capital projects, but much of the lead was buried. In our preview last week, we noted that the envelope set out in the Spring Statement promised to be a reversal of Robert … [Read more...] about The spending rollercoaster is well and truly back
Scottish paradox: a £704m boom on a foundation of sand
At first glance, Scotland’s venture capital market had a stellar 2024. A staggering £704 million poured into its companies, marking a 19% surge that defied the UK’s wider 14% slump. But look closer, and the gleaming facade begins to crack. While the total value of investment rose, the number of deals fell by 13% to 318, a sign of a market narrowing its focus. Scottish … [Read more...] about Scottish paradox: a £704m boom on a foundation of sand