Economy
GERS 2023: uptick in oil revenues narrows the budget deficit
“And here the challenge is stark, with a likely deficit far in excess of the UK as a whole, other comparable countries or that which is deemed to be sustainable in the long-term. It is…
Let’s make interest rates zero – permanently
“The idea of permanent zero rates is far outside the mainstream of economic thinking. But perhaps (Joan) Robinson was right to suggest it as a viable compromise between capitalism and more radical alternatives: rewarding entrepreneurship…
Treasury gives Holyrood more fiscal leeway
The Fiscal Framework behind the Scottish Budget has finally been updated, giving the Scottish Government greater leeway when it comes to tax and spend poli
Tweaking council tax won’t solve its fundamental flaws
“a revaluation is necessary. Indeed, it should be a prerequisite…To continue without revaluation is deeply unfair and to take forward reforms without a revaluation just rubs salt into the wounds.”
Plotting Scotland’s unsettled future
“There is no question that leaving the EU will leave our economy smaller and less successful than would otherwise have been the case. But rather than dwelling on this ‘borrowed future’, we need to have…
Eradicating poverty in Scotland: a long way to go
“Relative poverty needs to move down to 18% by 2023-24 to meet this target (and then down to 10% by 2030-31). It goes without saying that there is a long way to go!
Scotland does not need nuclear energy
Contrary to what you might have heard…, nuclear power is an outdated technology. Scotland can build a strong, resilient energy supply based on renewable energy.
How sustainable are Scottish tax and spend policies?
“under current Scottish and UK fiscal policies, if public services in Scotland are to continue to be delivered as they are today, Scottish Government spending over the next 50 years will exceed the estimated funding…
Scotland needs a new politics – and fresh policy options
As the SNP leadership campaign crawls to the finish post, time for a Big Debate on the political and socio-economic future in Scotland and the UK
What does Hunt’s first Budget mean for Scotland? (Update)
“The £320 million of money coming to Scotland mentioned in the Chancellor’s speech is for 2023-24 and 2024-25, but that’s all we’ve been told. Given that these figures will have been worked out in advance,…
Prospects for future fiscal devolution?
“Are current fiscal powers optimal for managing day-to-day and longer-term risks? And do the devolved administrations have the right tools to manage the financial risks they are likely to face now and in the future?”
Scotland’s currency options under independence
“The transition to full use of a S£ would take time, with high use of the UK£ within Scotland even once the S£ is established, whether at independence or soon after. In my view, it…