The Chancellor promised in a major speech last month that the UK Government will "fight" for economic growth. Indeed, growth is to be the "number one mission" of the government.

In many ways, this narrative is reminiscent of the early years of the first SNP-led Scottish Government in 2007. Back then, the Salmond administration put "sustainable economic growth" as the single "purpose" for government.

But most of the ambitious targets set by the government fell by the wayside. The Chancellor will be hoping for more success, but the scale of the challenge is daunting.

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Even before the 2008 financial crisis, UK productivity growth was slowing. Since then, it’s flatlined. The result has been average living standards that have barely improved in well over a decade.

Recent news hasn’t been encouraging. Growth weakened towards the tail end of 2024, whilst figures released last month warned that businesses are reducing their workforce at the fastest rate since 2009. Many are citing rising uncertainty and cost pressures, including upcoming tax rises.

Sadly, there is no quick or easy........

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