Real income growth has ground to a halt after five years of recovery, with lowest income households hardest hit because of cuts in benefits and tax credits.
The mass devolution of social security benefits next year represents a “very significant fiscal risk” to the Scottish budget, according to the body responsible for Scotland’s economic forecasts.
The Scottish Government is facing a budgetary shortfall of £1bn over the next three years in the wake of updated forecasts, which more accurately reflect income tax receipts north and south of the...
Public sector net borrowing in the UK in April was £5.8bn – £0.03bn less than in April 2018. This represents the lowest April borrowing figure since 2007, official statistics have revealed.
The potential of the new Scottish National Investment Bank will be compromised if it is limited to funding only commercial activities, the Scottish Government has been warned.
Britain’s government has launched a club to help Latin American companies that invest in the country and will celebrate their contribution to the economy with a new award.
Public services will have to continue to cope until funding decisions are announced in the Spending Review, says the Institute for Fiscal Studies’ director Paul Johnson.
The Spring Statement gave a hint the chancellor may be rethinking fiscal objectives, says chief economist at the Institute for Government Gemma Tetlow.
The chancellor has announced that assuming a Brexit deal is agreed and “uncertainty lifted”, he will launch a “full three-year spending review” before the summer break.
A no-deal Brexit risks pushing Scotland into recession, doubling unemployment and creating a “major dislocation” to the economy, according to the Scottish Government’s chief economist.
The success of the planned £2bn Scottish National Investment Bank could be undermined by inadequate capitalisation and vulnerability to political interference, the Scottish Government has been warned.
A no-deal Brexit could cause lasting damage to demand and supply in the economy, with productivity at particular risk from reduced migration, leading economists have warned.
Analysis from both the government and Bank of England have warned the UK economy could “suffer a severe economic shock” in the case of a no-deal Brexit.
The stockpiling of goods by firms ahead of Brexit could provide a short term fillip to the Scottish economy, according to the Scottish Government’s chief economist.
The UK’s public finances are among the weakest in the world after the 2008 financial crash, behind Gambia, Uganda and Kenya, an IMF assessment of assets and liabilities has revealed.
Scotland’s economy outstripped that of the rest of the UK by growing 0.5% in the second quarter of 2018, buoyed by output from the retail and wholesale sectors, according to the latest statistics.
A no-deal Brexit will entail “dire consequences” for the UK economy, which would rapidly start to contract, the International Monetary Fund chief has warned.
Difficulty in obtaining data from the Department for Work and Pensions has created “a significant challenge” for the official body responsible for Scotland’s economic forecasts.
