MSPs on a Holyrood committee have backed calls for the introduction of a visitor levy in local authorities, and have said that it would be 'unlikely' to deter tourists. Also known as the tourist tax, the legislation would allow councils to introduce an overnight accommodation levy - which Highland Council has been in support of.
Landlords may be beginning to think it not worth a candle to rent out some properties any longer. The Scottish Government has already indicated they will bring in transitional arrangements to prevent a huge surge in rent after 31 March 2024.
Shocking..
If you are going to build a new house or houses from April 2024 you better read this. And don't think it is just new houses as existing houses will be affected later as the Scottish Government is developing more rules for that also The New Build Heat Standard (NBHS) will affect the type of heating system that new-build homes and properties will be allowed to use.
The UK Government has announced an action plan of over 50 measures to further accelerate the success of Freeports - a policy reviving the UK's port communities. Over 50 measures including £150 million fund will boost successful Freeports policy, along with special tax incentives extended to 2031.
The Ajax Programme is making positive progress towards the delivery of a new generation of armoured fighting vehicles that meets the Army's needs. Ajax vehicles have driven more than 20,000km in trials so far.
The economy has been heading for recession for a long time since the pandemic but some how has saved off the evil day. However recent reports indicate the growth has almost stopped and tax increases by Scottish Government and freezing of personal allowances will not help spending by everyone.
Local and regional investment is delivering real dividends for communities across Scotland. The UK Government's levelling up funding in Scotland has now reached £2.92 billion, an increase of £840 million (40 per cent) since the end of last year, Scottish Secretary Alister Jack said.
Britain used to lead the world in nuclear power. This is the country that split the atom, built the world's first full-scale nuclear power station, and then proceeded to build nine more in the decade that followed.
Gross domestic product (GDP) contracted by 0.1% in Quarter 3 (July to Sept) 2023, leaving the UK economy only marginally larger compared with a year ago, as higher prices and tighter financial conditions led to a slowing in the economy. The UK was a net borrower from the rest of the world of 2.5% of GDP in Quarter 3 2023; there was an improvement in the UK's net investment income, particularly in debt and equity investment, with higher global interest rates increasing the returns on those financial investments.
UK gross domestic product (GDP) is estimated to have fallen by 0.1% in Quarter 3 (July to Sept) 2023, revised down from a first estimate of no growth. UK GDP is now estimated to have shown no growth in Quarter 2 (Apr to June) 2023, revised down from a previously estimated increase of 0.2%, while growth in Quarter 1 (Jan to Mar) 2023 and all quarters of 2022 is unrevised.
The latest statistics from public health Scotland 17 December 2023 shows that Covid is leading the way on respiratory infections once again. Seven day average number in hospital on 17 Dec 23 was 404 from 352 the week before.
The underlying UK current account deficit excluding precious metals narrowed by £9.1 billion to £19.1 billion, or 2.8% of gross domestic product (GDP), in Quarter 3 (July to September) 2023. The UK current account deficit, when trade in precious metals is included, fell to £17.2 billion, or 2.5% of GDP in Quarter 3 2023.
COSLA as Challenged the Scottish Government Settlement for councils in the budget allocations for 2024/25. Read the COSLA Statement HERE Then the Scottish Government Press Release issued at 5.38pm on 22 December 2024.
This month's bulletin updates on the latest economic data which provide further emerging insights into the final quarter of the year. This follows the recent Scottish Government budget, and the updated official outlook for the Scottish economy published by the Scottish Fiscal Commission (SFC).
Retail sales volumes are estimated to have increased by 1.3% in November 2023, from no growth (revised from a fall of 0.3%) in October 2023. Looking broader, sales volumes fell by 0.8% in the three months to November 2023 when compared with the previous three months.
Young low-paid workers were big winners in the recent Autumn Statement as reductions in the age threshold for the National Living Wage (NLW) and boosts to the National Minimum Wage's youth rates will mean pay rises of up to 21 per cent (for 16-17 year olds) next April. But despite this progress, low pay remains an ongoing problem for too many young workers, according to research published by the Resolution Foundation today (Wednesday).
Richard Murphy has highlighted a recent Guardian article on malnutrition rising in the UK. We have malnutrition in the UK because our food manufacturers know that nothing is more profitable than hooking people on products destructive to their wellbeing.
Proposals aimed at making the UK's listing regime more accessible, effective, and competitive, have today been set out in detail by the Financial Conduct Authority (FCA). In May, the FCA consulted on what a new regime could look like.
FAI associate economist Dr Hannah Randolph is joined by our director Professor Mairi Spowage and deputy director João Sousa to review big events, themes, and what we did in 2023. The panel talk about the challenges in economic forecasting and measuring the economy, what we've learned from 25 years of the Scottish Business Monitor, and some of our income tax analysis from this year.
