Economy

Scotland is set to create its first two Investment Zones in the Glasgow City Region and the North East, with up to £160 million of targeted investment, tax reliefs, and other incentives being earmarked over the next five years. This joint initiative by the Scottish and UK governments aims to b

The Scottish economy has shown surprising resilience in 2023, outperforming expectations by avoiding a predicted shallow recession, according to a quarterly economic commentary published by the University of Strathclyde's Fraser of Allander Institute. Supported by Deloitte, the report provides an in

James Watt, CEO of Brewdog, the brewery and pub chain headquartered in Ellon, Aberdeenshire, has expressed strong criticisms about the aftermath of Brexit, describing it as “tragic for UK business” and emphasising its detrimental effects on his own enterprise. Mr Watt shared his sentimen

Scotland’s onshore GDP contracted by 0.5% in April, according to statistics announced by the Chief Statistician.

Quality Meat Scotland (QMS) has released its 2023 Red Meat Industry Profile report, underlining the industry's significant role in Scottish food security, rural economy, and effective utilisation of the country's natural resources. Despite encountering significant challenges over the past three year

The Monetary Policy Committee (MPC) of The Bank of England has announced an increase to the base interest rate from 4.5% to 5%, marking the 13th consecutive rise. The decision was supported by a 7-2 majority, with members having preferred to maintain rate at 4.5%.

The Bank of England is expected to again hike the base rate tomorrow as UK inflation remained at a stubborn 8.7% last month, with core inflation, which excludes volatile items such as food and energy, reaching its highest level in 30 years at 7.1%.

In the first half of 2023, the UK economy has demonstrated a greater resilience than initially expected, and is set to steer clear of a recession, according to the CBI's most recent economic forecast. With a GDP growth of 0.4% anticipated over 2023, set to escalate to 1.8% in 2024, these figures mar

Scotland's private sector has recorded a mild expansion in activity in the second quarter of 2023, but its growth appears to be losing momentum, according to RBS' latest PMI data. Following a ten-month peak in April with a business activity index of 54.3, the index for May showed a downturn to 50.7,

Scotland's economy demonstrated robust growth in the first quarter of 2023, outpacing the UK average, according to recent data released by the chief statistician. From January to March 2023, the Scottish economy saw a 0.4% growth, an improvement over the previous quarter's 0.2% expansion. This rate

Recent inflation figures have pushed lenders to consider increasing fixed-rate mortgages to 5% and above.

The Deputy First Minister, Shona Robison, has announced a strategy for economic growth, progressive taxation, and targeted spending, aiming to bolster the country's economy and enhance public services amidst mounting financial challenges. The medium-term financial strategy outlines the Scottish Gove

April's UK inflation rate was reported at 8.7%, slightly higher than Bank of England's (BoE) forecast of 8.4%, but a drop from March's 10.1%. The deceleration in inflation was smaller than anticipated, leading to bond market sell-offs and mounting expectations for further interest rate hikes. The re

In the wake of Brexit, UK firms have significantly upped their investments in Germany, contributing over €750 million (c.£650m) in 2022 alone.

A comprehensive report has been issued by International Scotland, a consortium led by law firm CMS and the Fraser of Allander Institute, urging the Scottish Government to take immediate action to stimulate economic growth. The report outlines several key business sectors including sustainable touris