News Archive

Unlocking Fresh Business Talent In Scotland

Expanded support to close the gender gap and attract the next generation of entrepreneurs.   Up to £2.6 million is being invested in initiatives to make it easier for women and people from all backgrounds to start a business.  

A Damning Report From The Covid Enquiry - The Resilience And Preparedness Of The United Kingdom

The UK Covid-19 Inquiry is an independent public inquiry examining the response to, and impact of, the Covid-19 pandemic, to learn lessons for the future.   The scale of the pandemic was unprecedented; the Inquiry has a huge range of issues to cover.  

Scottish Secretary Responds To Labour Market Stats For July 2024

Ian Murray says government is wasting no time to deliver change for people across the UK.   Responding to the latest Labour Market Statistics published this morning Scottish Secretary Ian Murray said: "These worrying figures reflect the economic situation this government has inherited, but we're wasting no time to deliver change for people across the UK.  

UK Wage Growth Still Too Hot To Handle For The Bank Of England

Real wages are growing at their fastest rate outside of the pandemic in over a decade.  This is welcome news for workers, but less so for monetary policy makers looking for signs of inflationary pressures, the Resolution Foundation said on Thursday.  

June Retail Sales - Worse Than expected

The Office for National Statistics has reported retail sales figures in Great Britain for June: Retail sales volumes fell by 1.2% in June 2024 following a rise of 2.9% in May.   Non-food store sales volumes fell by 2.1% in June, Food fell by 1.1%.  

The Budget Responsibility Bill

The Government has introduced to Parliament the Budget Responsibility Bill and published a draft update to related provisions of the Charter for Budget Responsibility.   The Bill would amend the 2011 Budget Responsibility and National Audit Act and require any fiscally significant measures announced by the Government to be accompanied by an independent assessment by the OBR, except in certain circumstances.  

Falling Inflation For Food And Clothing

Responding to the latest CPI inflation figures, which show headline inflation remaining at 2.0% and food inflation falling 0.2 percentage points to 1.5%, Kris Hamer, Director of Insight of the British Retail Consortium, said: "While headline inflation remained at 2.0%, households will benefit from falling inflation rates in retail, with Food and Clothing & Footwear both dropping compared to last month.  Falling energy prices and a stronger pound combined with fierce competition between retailers are helping to bring down prices for many goods, including essential items like pasta and margarine.  

Income Tax And The Earnings Distribution

Income tax is the UK's single biggest tax stream, making up a quarter of total public sector receipts in 2024-25 (£302.7 billion or 10.9 per cent of GDP).  Given the progressive nature of the income tax system (the more you earn, the higher the average rate of tax you pay) getting the distribution of income right is a key judgement for our income tax forecast.  

Contract Awarded For Next Stage Of Development At European Marine Science Park

The project is expected to continue to attract innovative marine businesses, creating new well-paid job opportunities, particularly for young people, and encouraging entrepreneurship.   A new £8.1m facility is to be built in Argyll to help meet increasing demand for offices and laboratory facilities from companies in the growing marine science sector.  

New Director Of Area Operations At Highlands And Islands Enterprise

HIE has appointed a new director of area operations.  Joanna Peteranna took up the new post on 1 July 2024 after being promoted from area manager for Innse Gall and will retain specific responsibility for Outer Hebrides.