Economy

The UK government is faced with a future of difficult tax choices, with an increased likelihood of tax rises to combat mounting public spending pressures and sluggish economic growth, according to KPMG.

UK government borrowing soared to £83.8 billion in the first five months of the fiscal year, the highest for this period in the last five years.

The UK government has announced £150 billion in new US investment in the UK, timed to coincide with President Donald Trump's state visit.

The Bank of England’s Monetary Policy Committee (MPC) has voted 7-2 to hold interest rates at 4%, citing persistent inflationary pressures. In a dual decision, the committee also announced it would slow the pace of its quantitative tightening (QT) programme in response to febrile market condit

The UK's inflation rate held steady at 3.8% in August, reinforcing expectations that the Bank of England will keep interest rates on hold this week. Figures from the Office for National Statistics (ONS) showed the consumer prices index remained at the same level as July, matching economists' forecas

The UK's GDP flatlined in July, recording zero economic growth. Data from the Office for National Statistics (ONS) confirmed the stagnation, a slowdown from the 0.4% expansion seen in June. The figures, which were in line with economists’ expectations, showed that a slump in manufacturing canc

Gold prices surged to a record high on Tuesday, breaching the £2,700 per ounce barrier for the first time as market anticipation of an interest rate cut from the US Federal Reserve fuelled a rally in the precious metal. The spot price for gold climbed over 1% to hit a peak of £2,709 duri

Gold prices surged to a new record high on Wednesday, buoyed by plans to launch a digital form of the metal and rising demand from investors seeking a safe haven from market turbulence.

Scotland’s onshore GDP grew by a robust 0.6% in June 2025, marking a significant rebound from a revised 0.1% growth in May. The latest figures from the Chief Statistician confirmed that the economy expanded by 0.2% over the second quarter of the year, from April to June. This follows grow

  UK inflation unexpectedly accelerated to an 18-month high of 3.8% in July, reducing the likelihood of further interest rate cuts from the Bank of England.

Scotland’s net fiscal balance has deteriorated, with the deficit growing to £22.7 billion, or 10.4% of GDP, in the 2023-24 financial year.

UK GDP grew faster than expected in the second quarter, expanding by 0.3%, but a slowdown from the start of the year has highlighted challenges facing the Chancellor ahead of the autumn budget. Figures from the Office for National Statistics (ONS) confirmed that growth had cooled from a strong 0.7%

Scotland’s onshore economy shrank by 0.2% in May 2025, reversing a revised growth of 0.1% in April, according to official figures.

A landmark trade deal signed today between Prime Minister Sir Keir Starmer and his Indian counterpart, Narendra Modi, is set to deliver a £190 million boost to the Scottish economy. The agreement will see tariffs on Scotch whisky exports to India halved from 150% to 75%, with the potential for

UK government borrowing has reached a higher-than-expected £20.7 billion in June, fuelled by soaring debt interest payments that place Chancellor Rachel Reeves under increasing pressure ahead of her Autumn Budget.