Transforming Scotland’s Economy

With the state of the economy and the public finances set to dominate politics over the next 12 months, our Associate Director of Scotland, Chris Birt joined a range of experts to examine the difficult decisions ahead.

Holyrood will brought together senior ministerial representatives of both the Scottish and UK governments to explore whether there is likely to be a growing divergence between spending choices and the unprecedented cost-of-living crisis being faced by families across the UK.

This webinar explored whether there is likely to be a growing divergence between spending choices at Holyrood, and Westminster, and the unprecedented cost-of-living crisis faced by families across the UK. Both governments are experiencing huge budgetary pressures, with the Scottish Government announcing income tax rises for everyone earning more than £43,662 and Chancellor Jeremy Hunt lowering the threshold for the 45 per cent additional rate of income tax from £150,000 to £125,140.

This comes as the UK endures its worst industrial unrest since the 1990s, and economists warn that the UK is likely to face the worst recession and slowest recovery of any leading developed nation in the coming year.

As such, at this event, we looked at whether Scotland can avoid a return to austerity by examining the spending choices of both the UK and Scottish Governments and consider how we can:

• Grow Scotland’s economy in 2023 through increasing productivity, broadening our export markets and enhancing our entrepreneurial and skills base
• Alleviate the cost-of-living crisis and poverty in Scotland by creating a fairer and more equal society
• Meet Scotland’s net zero targets and build a resilient, future-proof economy against a backdrop of economic uncertainty