Economy

ScottishPower's parent company, Iberdrola, has agreed to sell its UK smart meters business, SP Smart Meter Assets (SPSMA), to the Australian financial services group Macquarie in a deal valued at approximately €1,060 million (c. £900m). The transaction is currently awaiting approval from

The UK economy demonstrated its strongest growth in a year during the first quarter, expanding by 0.7% and surpassing City forecasts. This unexpected upturn was significantly driven by businesses increasing investment and exports, reportedly to pre-empt the impact of anticipated US tariffs under Don

Scotland's unemployment rate rose to 4.3% in the three months to March 2025, an increase of 0.5 percentage points from the previous quarter, according to Office for National Statistics (ONS) data.

Firms have reported that increased global economic uncertainty, particularly related to US tariff announcements, is significantly impacting demand across various regions. The Royal Bank of Scotland Growth Tracker – a seasonally adjusted index that measures the month-on-month change in the comb

Scotland’s economic growth is being held back by a chronic shortage of housing, and urgent action is required to remove this barrier to investment and jobs, a new report from Prosper (Scottish Council for Development and Industry) has warned today. Drawing on insights from over 100 stakeholder

Scottish shopper footfall experienced a significant rebound in April, largely driven by the Easter holiday period falling within the month, in contrast to March 2024.

The Scottish salmon industry has called for further negotiations with the United States to eliminate a 10% tariff on its exports, following the newly announced UK-US trade deal. Salmon Scotland, the trade body for the UK's largest food export, voiced concerns that the existing tariff will continue t

The UK government has secured a trade agreement with the United States, providing some relief from punitive tariffs recently imposed by President Donald Trump. The pact, announced by President Trump and UK Prime Minister Sir Keir Starmer, will see cuts to tariffs on UK car and steel exports. However

A one-day trade mission to Scotland, led by Ireland's minister of State for Trade Promotion, Digital and Company Regulation, Niamh Smyth, has concluded, focusing on strengthening economic links between Ireland and Scotland. The visit to Edinburgh and Glasgow prioritises strengthening trade ties

UK Business and Trade Secretary, Jonathan Reynolds (right) welcomes Indian Minister of Commerce and Industry, Piyush Goyal (left) to London for trade talks The United Kingdom and India have concluded a significant trade deal aimed at bolstering economic growth and increasing prosperity in both natio

Scotland's onshore economy experienced a slight contraction in February 2025, with GDP falling by 0.2%, according to official statistics. This followed upwardly revised growth of 0.4% in January, up from 0.3%.

The EY ITEM Club has downgraded its GDP growth expectations for 2025 to 0.8%, down from the 1% predicted in February’s Winter Forecast, and has revised its 2026 forecast down from 1.6% to 0.9%. While the start of 2025 appeared to show economic momentum building, the weaker global economy and m

UK government borrowing has exceeded official forecasts in March and for the full 2024-2025 fiscal year, intensifying pressure on public finances amidst a challenging economic outlook compounded by US tariffs. Data released by the Office for National Statistics (ONS) revealed a shortfall between gov

The percentage of Scottish small businesses predicting growth has fallen to a four-year low (29%), according to new figures from Novuna Business Finance.  The current position stands in stark contrast to last summer, which saw a period of stability in Scottish growth outlook.

Edinburgh's Smart Data Foundry has launched the Economic Wellbeing Explorer, a platform offering unprecedented insight into financial hardship across Scotland. Using near real-time data from 5.3 million bank accounts, the Explorer tracks economic resilience and wellbeing at national, regional, and l