Economy

Typical household disposable incomes for working-age families are on track to fall by 3% this financial year, and by 4% next year, with the two-year cost-of-living squeeze set to leave families £2,100 worse off and only the very richest households seeing their incomes rise, according to new re

Economic confidence has risen slightly in December to -58, up from -64 in November, according to the IoD Directors’ Economic Confidence Index, which measures business leader optimism in economic prospects. There were also slight improvements in expectations for revenue, employment, investment

Edinburgh and Glasgow are set to see their local economies be amongst the fastest growing as the UK emerges from recession in the second half of 2023, according to a new study by law firm Irwin Mitchell.

In November, UK credit card borrowing reached its highest level since 2004 as pressure mounts on households from rising living costs.

Two-thirds of Scots plan to reduce their non-essential spending in 2023, according to research released by KPMG.

Scotland’s GDP is estimated to have fallen by 0.1% in Q3 compared to the previous quarter, and increased 0.4% month-on-month in October, according to statistics announced by the chief statistician.

Business confidence in Scotland fell nine points during December to 15% but overall economic positivity has increased, according to the latest Business Barometer from Bank of Scotland Commercial Banking.

Expert analysis has shown the UK economy will shrink by 1.3% in 2023, amidst a relatively shallow but protracted recession, and will be followed by a partial recovery in 2024, which could see GDP rise by 0.2%. According to KPMG’s latest UK Economic Outlook, elevated inflation and rising intere

A new report has said the outlook for Scotland’s budget in 2023-24 has become more challenging due to factors wholly outwith the control of the Scottish Government, but there are decisions that Deputy First Minister John Swinney can make to ease the path ahead for Scotland. In its pre-budget r

The chief statistician has released statistics showing that the Scottish economy fell by 0.2% during the third quarter of 2022, covering the period July to September. Monthly statistics also show that GDP is estimated to have contracted by 0.6% in September, with decreases across the construction an

The latest EY Future Consumer Index has found that nearly half of UK consumers (43%) expect to spend less over the festive season compared to 22% for the same period last year. The 11th edition of the survey of over 1,000 UK consumers found that falling consumer confidence due to the cost-of-living

The government's support all households with energy bills over the first three months of 2023 will cost £16 billion in taxpayer money, according to Resolution Foundation analysis. Ofgem revealed yesterday that the annual energy bill of a typical household would have risen to £4,279 betwe

Equity investment levels in Scotland’s smaller businesses continued to rise during the first half of 2022, despite well-publicised economic headwinds, according to new research published as part of the British Business Bank’s annual Nations and Regions Tracker. A total of £411 mill

Financial experts have warned the Scottish Government against introducing "less competitive rates of tax" in the wake of tax increases and spending cuts announced by Chancellor Jeremy Hunt this morning. In his first Autumn Statement, Mr Hunt extended the freeze on key allowances and thresholds, incl

Inflation has reached 11.1%, a 41-year high, the newest figures from the Office for National Statistics (ONS) shows. A jump in energy costs, despite the Energy Price Guarantee (EPG), and rising food prices, which rose by 16.4% — the biggest annual increase since 1977 — pushed C