Economy

A return to austerity would have significant consequences for people and public services, deputy first minister John Swinney has warned ahead of the UK government’s autumn statement. Mr Swinney has called for an alternative to austerity to avoid the UK Government “prolonging” the r

Analysts from the Resolution Foundation (RF) have shown that the mini-budget put forward under Liz Truss cost the country an estimated £30 billion. It resulted in a doubling of the fiscal hole the Treasury has said Jeremy Hunt will have to fill with this week's expected range of tax rises and

The latest figures from the Office for National Statistics (ONS) have shown that the UK economy contracted 0.2% in Q3 between July and September. The UK's GDP fell by 0.6% in September alone. The information and communication sector was the worst affected and services output dropped 0.8%, causing th

Profit warnings issued by UK-listed companies with a defined benefit (DB) pension scheme increased by 38% year-on-year in the third quarter of 2022. EY-Parthenon’s latest Profit Warnings analysis finds that the number of profit warnings issued by UK-listed firms with a DB scheme rose from 13 i

Executive pay levels at FTSE 100 companies have largely returned to pre-pandemic levels, PwC analysis following the end of the 2022 AGM season shows.

UK mortgage lending is expected to fall slow sharply in 2023 with just 0.7% growth due to rising mortgage rates and falling real household incomes, according to the latest EY ITEM Club Outlook for Financial Services. This comes after lending is projected to rise 4% this year, following strong demand

Investors in UK publicly listed companies are set to receive £5.7 billion more in dividends as a result of the weakening of the Pound Sterling against the US Dollar. The boost to dividends shows how UK companies with a significant portion of their earnings coming from abroad are benefiting fro

Real savings’ returns have plummeted to their lowest level since February 1976 due to the effects of rising inflation, new figures reveal. The study by Scottish Friendly and the Centre for Economics and Business Research (CEBR) reveals the real annual return on savings fell to -9.0% in July &n

The chancellor, Jeremy Hunt, has announced that the government's fiscal statement will be delayed from October 31 to November 17. The new prime minister, Rishi Sunak, and chancellor agreed on the new date when they will set out a detailed plan to reduce debt and put in place a growth strategy for th

Profit warnings issued by UK-listed companies have reached their highest third-quarter total since 2008, according to EY-Parthenon’s latest Profit Warnings report. In total, 86 profit warnings were issued between July and September 2022, compared to 51 in the same period of 2021, an increase o

UK consumer confidence has fallen for the fifth consecutive quarter in Q3 2022, falling by one percentage point to a historically low -20%, according to Deloitte’s latest Consumer Tracker. Spending power also remains significantly strained, as consumer sentiment around levels of debt also reac

A business survey by the Scottish Chambers of Commerce (SCC), has shown the Scottish economy struggling against a growing whirlwind of pressures including increased input costs, inflationary hikes, mis-judged economic policy choices by the UK government and increased pessimism over the global econom

The consumer price index rose marginally in September with inflation having reached 10.1% as the fall in fuel prices was largely offset by the rising cost of food. The current inflation rate is the highest in 40 years. Multiple U-turns on fiscal policy from the UK government have left experts uncert

Begbies Traynor have warned businesses across Scotland to prepare for further tough times ahead as new research by the firm shows that, in the latest quarter, advanced financial distress among businesses in the country has already started to soar compared with other parts of the UK. The latest

The Scottish Government has set its focus on nurturing economic ties with the US and Canada as currently trade minister Ivan McKee is on a trade visit to the two countries in a bid to strengthen economic connections, attract investment into Scotland and boost exports. It comes the same week as the S