The National Institute of Economic and Social Research (NIESR) put is it as well as anyone. “Today’s Budget locks in a high-tax, high-debt steady state in a world of low productivity growth and higher interest rates. Even the historically large tax share of GDP now planned is only just enough to stabilise – not reduce – a debt ratio stuck around 100 per cent of GDP for the … [Read more...] about UK Budget 2025? Get real. The world has changed
#MuscatelliReport: is Scotland ready for radical action on regional economic development?
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?
GERS and what it tells us about the de-prioritisation of health spending in Scotland
An interesting side story to emerge from analysis of the latest GERS figures concerns where exactly Scottish spending per head of population is higher than for the UK as a whole. The overall advantage in 2024-25 was 14%, i.e. for every £100 spent per person on UK public services the Scottish figure is £114. This degree of ‘advantage’ is well recorded and has been maintained … [Read more...] about GERS and what it tells us about the de-prioritisation of health spending in Scotland
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
Budgets, ideas and lethargy in the Scottish Government
It has been a grim few days for the Scottish Government. First of all, the Finance Secretary, Shona Robison (pictured), outlined how an extra £1 billion of funds had to be used to fill a fiscal hole for this financial year. Leaving us wondering what on earth she was going to do for next year. Then, in the shadow of this dismal prognosis, the First Minister, John Swinney, … [Read more...] about Budgets, ideas and lethargy in the Scottish Government