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.
A year of poor economic data ended on a high as CPI inflation fell by more than markets expected to 3.9 per cent in November - its lowest level since September 2021. But while inflation should continue to fall next year, there are likely to be bumps in the road, reminding us all that cost-of-living pressures are still with us, the Resolution Foundation said this week.
Serco NorthLink Ferries has officially opened its booking system for the full calendar year ahead - giving customers the opportunity to book forward travel up to the end of December 2024. Billy Robb, Customer Service Director for NorthLink Ferries, said, "We are pleased to be able to open our booking system up to December 2024, allowing people to book travel in spring, summer and beyond, both to and from Shetland and Orkney.
The information provided is a summary of reports from operational staff and is intended to give a general indication of typical conditions in each area at a point in time. It is not intended to imply that any individual route is entirely snow and ice free and drivers must be aware that conditions can change rapidly and make their own assessment of conditions for travelling.
he Scottish Government has delivered a major blow to communities and has put councils at financial risk with a cash cut to Local Government in its draft Budget (published on 19th December) and no provision for inflation or pay increases, COSLA said. COSLA Leaders described the draft Budget as not only leaving councils at real and significant financial risk for the coming year, but as it stands, it will mean cuts in every community in Scotland and job losses across Scottish Local Government.
Listed Places of Worship Grant Scheme supporting the protection of religious buildings representing all faiths and denominations, benefiting local communities. Cash boost comes as more than a million people across the country expected to attend Midnight Mass and Christmas Day services in their local church Since 2010, the Government has returned £346 million to listed churches, synagogues, mosques and temples Nearly 5,000 religious buildings in the United Kingdom have received a share of up to £42 million in public funding ahead of this year's festive celebrations, as the Government continues its support for the conservation of listed places of worship across the country.
UK Government announces £25 million of levelling up funding to save cherished places like pubs, theatres and museums through its Community Ownership Fund. Successful community projects across the UK will receive up to £2 million for the first time, with three heritage theatres winning the top awards Funding will ensure local people continue to reap the benefits of their valued community assets, preserving them for future generations Museums, pubs, parks and cinemas across the country will be kept alive by a £25 million rescue package announced today (22/12/23).
The UK and EU have agreed to extend trade rules on electric vehicles until the end of 2026 to keep costs down for manufacturers and consumers, the Prime Minister has announced on Thursday 21 December 2023. UK and EU agree to extend trade rules on electric vehicles saving manufacturers and consumers up to £4.3 billion in additional costs.
Young carers are being urged to do something for themselves during this season of giving and get the financial support they are entitled to. Social Security Scotland is encouraging eligible people to apply for the £359.65 Young Carer Grant this December.
