After last year’s UK Budget battering for Scotland’s retailers there was a palpable sense of trepidation and anxiety ahead of last week’s iteration from the Chancellor. This year’s spike in food price inflation shows just how hard it has been for retailers to recover from the swingeing increases to employers’ national insurance contributions and other government-mandated costs.

At least this latest Budget didn’t repeat those hammer blows. Unfortunately there was little positive in it which will lessen the cost burdens Scottish retailers face and alleviate pressure on shop prices.

The economy remains in something of a funk. Growth forecasts for the next few years have been revised down to a modest 1.5% annually with household consumption growth similarly underwhelming. It’s growth and to be welcomed, but not nearly as fast as required to markedly raise living standards or get on top of the government’s debt.

Admittedly, the challenges predate this Chancellor, however we’ll have to wait a bit longer for the fruits of the government’s "growth mission" to emerge.

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