Scottish GDP growth larger than UK, figures confirm
New figures have confirmed Scottish GDP was ahead the UK in the second quarter of 2018.
Economy
Pharmaceuticals worth £1.7bn to Scottish economy – research
The pharmaceutical industry is worth around £1.7 billion to Scotland’s economy and employs over 5,000 people across the country, according to new research.
Alan Titchmarsh calls for support for ‘invaluable’ horticulture industry
Alan Titchmarsh has called for urgent action to stop the “demise” of the UK’s gardens, as a report suggests that the horticulture sector is worth billions to the economy.
Finance Secretary launches economic action plan
The Scottish Government has launched an economic action plan, including an £18 million fund for advanced manufacturing and the piloting of two new “productivity clubs” for businesses.
Brexit stockpiling ‘will have negative economic impact despite initial boost’
Stockpiling ahead of Brexit could boost Scotland’s economic growth in 2018-19 but the measure will have a negative effect in the medium term, the Scottish Government’s top economist has said.
Thirst for craft beer boosts number of Scottish breweries
The number of breweries in Scotland has increased by almost 230% since 2010, thanks in part to drinkers’ growing taste for craft beers.
Summer heatwave helped boost economic growth
The UK economy grew at a healthy rate over the summer months, helped in part by the bout of warm weather.
Brexit poses risk to global financial stability, says IMF
The International Monetary Fund (IMF) has included Brexit among key risks to the stability of the global economy in a new report.
Brexit uncertainty and unsettled politics pose risk as global growth downgraded
The potential failure of Brexit negotiations and “unsettled” politics pose a risk to world economic growth, the International Monetary Fund (IMF) has warned.
Manufacturing sees ‘mild improvement’ but Brexit uncertainty weighs on forecasts
Britain’s manufacturing sector saw a “mild improvement” in September, though companies say Brexit uncertainty has put industry forecasts in doubt.
Johnson refuses to rule out May challenge in pre-conference Chequers plan attack
Boris Johnson has refused to rule out a leadership challenge to Theresa May as he took another swipe at her Chequers plan on the eve of the Conservative Party Conference.
Boris Johnson: Chequers is a moral and intellectual humiliation for this country
Boris Johnson has issued a blistering attack on Theresa May’s Brexit strategy just days before the Conservative Party conference.
Jeremy Hunt urges calm over Brexit impasse as he calls for EU to get serious
Foreign Secretary Jeremy Hunt has called for calm over the current Brexit impasse — claiming there was always going to come a point in negotiations “where everyone was looking into the abyss”.
Corbyn to set out Labour’s Brexit plan with EU chief negotiator Michel Barnier
Jeremy Corbyn is set to meet with the EU’s chief negotiator Michel Barnier in a bid to break the current Brexit impasse.
EU Ambassadors gather for ‘closed session’ to discuss impact of no-deal Brexit
European Union officials are to step up no-deal Brexit preparations due to increased “uncertainty” over whether a deal can pass through the House of Commons, a leaked document has revealed.
Extending Article 50 timetable may be essential, report warns
Extending the timetable for the UK’s European Union departure talks may be “unpalatable but essential”, experts have claimed in a new report which warns about the impact of “sleepwalking” into a no-deal Brexit.
Scottish economy grows 0.5% to move ahead of UK growth
Scottish economic growth has overtaken the UK with 0.5% growth, new official figures show.
Minister issues rallying call to Tories to ‘unshackle enterprise’
Theresa May has been urged by one of her senior ministers to prepare to fight the next general election on a radical pro-business platform of tax cuts and de-regulation.
Economic forecaster faced ‘significant challenge’ obtaining DWP data
Scotland’s independent economic forecaster has faced a “significant challenge” obtaining essential data from the Department for Work and Pensions (DWP), it has emerged.
Unemployment in Scotland fell in latest quarter
Unemployment in Scotland decreased in the latest quarter, new figures show.
Value of Scottish exports up 7% over 12 months
The value of Scottish exports increased by 7% in the year to June, according to new figures.
Productivity in Scotland broadly stagnant for 15 years, think tank warns
Economic productivity in Scotland has been “broadly stagnant” for the last 15 years, with the country underperforming against many other European nations, a new report has concluded.
Ministers launch consultation on national investment bank
A consultation has been launched on plans for a national investment bank for Scotland.
Professional services firms downbeat amid surging costs
Business and professional services firms are the most gloomy for nearly two years as rising costs and uncertainty over Brexit take their toll, according to a survey.
Scotland’s economy on the right trajectory, Nicola Sturgeon says
Nicola Sturgeon has said an improvement in Scotland’s public finances shows the economy is on the “right trajectory”.
Scotland’s finances improving as deficit reduces, figures show
Scotland’s public finances improved last year, with an increase in revenue and a reduction in the deficit, according to the latest official figures.
Greece completes three-year eurozone bailout programme
Greece has successfully completed a eurozone bailout programme after receiving tens of billions of euros to help it fix its economy.
Drones could bring £42bn boost to UK economy
A rise in drone usage in the oil and gas industry and in Scotland’s farming industry could help to deliver a £42 billion boost to the UK economy by 2013, a new report has forecast.
Aberdeen battles back to become top five city
Europe’s beleaguered capital of oil and gas has powered its way into the top five in a league table of the UK’s fastest-growing city economies.
Aberdeenshire Council set to be £3m over budget when tax year finishes
A local authority is set to be £3 million over budget by April – and says a lack of council tax payments is partly to blame.