Much is uncertain as we proceed - perhaps warily given the somewhat miserable economic backdrop that has dominated for the best part of two decades now since the global financial crisis - into 2025.

However, what appears crystal clear is that there are plenty of challenges facing the UK economy, including Scotland.

The upside, such as it is and it will be cold comfort for many, is that households and businesses alike have had to become experts at finding ever-greater reserves of resilience.

And such perseverance will be just what is needed again this year.

Unfortunately, Labour’s big Budget measures unveiled on October 30 did not translate into any significant brightening of the UK’s growth outlook.

The UK growth forecast for 2024 was revised up by the Office for Budget Responsibility to 1.1%, from 0.8% at the time of the Budget delivered last March by the Conservatives, who we should remember in the context of the current challenges proved so damaging to the economy for so long.

And the 2025 growth prediction has been edged up from 1.9% last March to 2%.

However, growth forecasts for 2026, 2027 and 2028 are all lower than last March. Expansion in 2026 is now expected to be 1.8%, down from the previous 2% projection. The OBR’s prediction for growth in 2027 has been reduced from........

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