scottish economy
Swinney must move beyond old orthodoxies
Scotland cannot transform its economy using the policy playbook from the 1990s, argues this leading economic commentator/analyst. It needs a huge injection of low-carbon investment (and more) to meet net zero and make the just…
Industrial strategy for Scotland 2
“There’s growing agreement on the need for an industrial strategy in Scotland. The immediate question for the SNP government in Scotland and the next government in London is whether they are prepared to expend the…
Scottish economy outperforming the UK but for how long?
Looking forward to the Scottish Budget on Dec 19, the FAI says: “With monetary policy determined at UK level and little in the way of manoeuvre on its own fiscal stance, the Deputy First Minister’s…
What does the Autumn Statement mean for Scotland?
“As these are devolved matters, the Scottish Government receives this funding but is under no obligation to match the policies announced by Westminster. For example, the retail, hospitality and leisure relief is a repeat of…
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…
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?”
Swinney should use his fiscal powers to the full: Update
“But there are also flexibilities that the Deputy First Minister has for the next financial year that were not available to him for this year – the Scottish Government does have tax powers that could…
A monetary straitjacket: Scottish Government economic plan for independence
“A Scottish currency is no guarantee that independence would see the country’s deeply embedded economic problems tackled. A monetarily sovereign independent government would still be perfectly capable of chronic mismanagement. But to have an independent…
Fantasy economics: alive and well on both sides of the border
“Where Scotland differs (from the UK) the most is in its lack of engagement on economic issues. If this continues then the £1.5 billion (fiscal) shortfall will continue to grow and taxes will continue to…
Going for growth – or broke?
The new UK Chancellor has set out his radical fiscal plans – and prompted a sterling crisis. The situation is so grave, not least for Scotland, it merits a return from us in the interests…
Strategy for going everywhere and nowhere
“The report, the launch, the minutes of the Advisory Council meetings – all point to a ‘just get it done and get it out’ approach. And as with previous, failed, economic strategies it will go…