Economy

The Office for National Statistics (ONS) has reported a fall in retails sales volume of 1.6% for August continuing a downward trend since summer 2021 and significantly worse than expectations. This follows the lifting of restrictions on hospitality which has likely caused a shift in where consu

The new UK government has ordered the treasury to audit existing and new anti-obesity policies which were to be introduced next month. The sugar tax, officially known as the Soft Drinks Industry Levy (SDIL), was introduced in 2018 as a measure to deter people from consuming unhealthy drinks high in

As the the recent increases in petrol prices slightly unwound, the Consumer Price Index (CPI) recorded a 0.2% drop in inflation for August, bringing inflation to just below 10% at 9.9%. The drop was largely influenced by a 6.8% month-to-month fall in petrol prices, but at the same time food prices r

Aldi has become the fourth largest UK supermarket overtaking Morrisons.

The latest figures from the Office for National Statistics (ONS) have shown that the economy grew by 0.2% in July and output dropped by 0.6%. Services grew by 0.4% in July 2022, after a fall of 0.5% in June 2022, and was the main driver to the rise in GDP. Information and communication grew by 1.5%

Accounting and business advice firm Wylie & Bisset has advised hospitality sector operators to plan and project to survive or exit a perfect storm of increasing energy bills just as winter approaches, higher supply and staffing costs, and inflation resulting in a fall-off in consumer spending. W

As the UK confronts a highly volatile and uncertain inflationary outlook, PwC has predicted growth in Scotland will sit approximately 0.5 percentage points behind the UK average this year and, like the rest of the country, will be highly dependent on gas prices. The two possible scenarios outlined i

New data from the Office for National Statistics (ONS) has shown a recent slowdown in monthly mergers and acquisitions (M&A) activity, as domestic M&A deals were valued at £2.9 billion for Q2 2022 - £0.9bn less than Q1 (£3.9bn). Data suggests M&A activity has been

Figures compiled by Highlands and Islands Enterprise (HIE) have shown that businesses and communities supported by the agency achieved a strong performance in 2021/22 despite considerable economic disruption and uncertainty. Investments during the year supported businesses and social enterprises to

Around £500 million in savings have been found as resources are focused on tackling the “harsh reality” of the cost of living crisis, deputy first minister John Swinney has said. He updated the Scottish parliament on steps being taken to meet the increased costs of public sector pa

Accountants have given their immediate response to the announcement that Liz Truss is to be the new leader of the Conservative Party and the next Prime Minister, calling for "significant government support" to help people overcome the current financial challenges. Kirsty McGregor, founder of Th

BrewDog has announced the closure of six of its pubs, three of which are in Scotland. The decision comes just after the Scottish craft beer company opened up its biggest bar in London's Waterloo two weeks ago.

New research has revealed widespread anxiety and pessimism about Scotland’s economic outlook. The key findings of the research, produced in partnership between the David Hume Institute and the Diffley Partnership, on economic attitudes and behaviours are:

New research predicts that the economy will go into recession before the end of the year, lasting until 2024, and that inflation could double, reaching a peak of 22.4% early next year. The research from American investment bank, Goldman Sachs, has projected higher inflation levels than Citi bank's f

Energy regulator Ofgem has today announced that the price cap for energy bills will increase to £3,549 per year for dual fuel for an average household from 1 October 2022, an 80% increase on February’s price cap. Ofgem said the increase reflects the continued rise in global wholesal