Scotland’s outperformance of the UK as a whole in the economic growth stakes last year will likely, as well as having confounded some forecasters, have been greeted with a sigh by some north of the Border.

And not a sigh of relief.

The sighers would have been those who promote or prefer the narrative, for political reasons, that the Scottish economy is a basket case, or at least a laggard. They use the likes of the huge cost over-runs on the contract for two Caledonian MacBrayne ferries awarded to Ferguson Marine by the Scottish Government, through Caledonian Maritime Assets Limited, relentlessly to back up this argument, shaking their heads and tutting.

But the simple fact of the matter is that this albeit troubled contract - the major cost over-run on which it should be noted pales into insignificance relative to what has gone wrong with some UK Government spending in recent years - is not an indicator of macroeconomic conditions in Scotland.

And it is not some kind of shorthand for the Scottish Government’s performance on business and the economy, much as many would like to use it in such a way.

In fact, when it comes to some of the big things for which the Scottish Government has responsibility, such as trying to help attract investment into the nation from overseas players, the SNP can point to consistently good results.

That is not to say it is doing everything right, but positive perceptions of inward investors about business and economic conditions in Scotland would certainly challenge the narrative of the nation’s detractors.

Official figures on Wednesday revealed the Scottish economy expanded by 1.1% in 2024. Data published earlier this month by the Office for National Statistics showed the UK economy grew by 0.9% last year.

The EY ITEM Club think tank in early December forecast the Scottish economy would grow by just 0.7% over the course of 2024. It........

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