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Derek Mackay It is unacceptable that police and fire services in Scotland remain the only territorial forces in the UK unable to reclaim the VAT they incur on the purchase of goods and services, Finance Secretary Derek Mackay (pictured) said today.

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Alliance Trust's investment portfolio has outperformed its market benchmark following a tumultuous year for the wealth manager. The results for the six months to June 30 show the trust’s equity portfolio outperformed its MSCI ACWI benchmark by 4.2 per cent in the period.

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A former financial manager of the Edinburgh Festival Fringe Society has admitted embezzling almost £250,000 over seven years. Lynn Taylor, 56, pleaded guilty at Edinburgh Sheriff Court to embezzling £220,331.12 between 1 June 2008 and 13 March 2015.

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