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Ian McConnell: Trepidation over UK Budget grows

5 1
14.10.2024

As we await the new Labour Government’s Budget on October 30, there seems like a lot more gloom and trepidation than hope when it comes to the economic outlook.

Scotland’s private sector economy recorded a ninth consecutive month of growth in September, a survey published last week showed, and this is no mean feat against a miserable UK backdrop.

There was further good news with the rate of employment growth in the private sector economy north of the Border accelerating to its fastest since May 2023 and the third-highest among the 12 UK nations and regions.

However, while the decline in manufacturing activity in Scotland eased to only a fractional pace, there was a sharp fall in new orders for this sector last month.

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The sector has, of course, not been helped by the loss of frictionless trade with the UK’s largest trading partner, the European Economic Area, as a result of Brexit.

Former prime minister Boris Johnson did not seem keen to face up to this reality in an interview with radio station LBC.

He rather dodged presenter Nick Ferrari’s points about the economic impact as he gave Brexit 10 out of 10 for “constitutional purity”, whatever that means, and a remarkable nine out of 10 overall. Remarkable because one wonders how anyone, even Mr Johnson, could give such a score to a folly which has........

© Herald Scotland


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