The Hallmark of the UK Economy is Stagnation

A new paper released yesterday by the Resolution Foundation gives an in depth look at the depth of economic stagnation the UK economy has faced since the 2007/08 Financial Crisis. The paper offers a list of possible solutions to the UK’s frankly horrendous economic performance over the last decade and a half, including recommendations to increase public investment to levels more in line with other G7 countries. However, assumed Prime Minister in-waiting, Keir Starmer has said that anyone expecting Labour to “quickly turn on the spending taps” will be “disappointed”.

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Grangemouth closure is serious threat to Scotland’s energy security

Yesterday energy firm PetroIneos announced the closure of the Grangemouth oil refinery and a transition to operations as an imports centre within the next 18 months. Grangemouth is Scotland’s only oil refinery, producing over 70% of all of Scotland’s petrol and diesel. The closure is a worrying development, leaving Scotland without a centre to refine its own oil and making us more vulnerable to dependency on foreign imports for fuel. 

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HS2 collapse means Scotland is paying the price for another Westminster bourach

Business for Scotland predicted that HS2 would never be built. The fact the axe has finally fallen on most of the line comes as no surprise. The rag-bag of transport upgrades which PM Rishi Sunak announced in his Conservative Party Conference speech in its place are unconvincing and include little for Scotland. The main one – upgrading the A75 – was already announced by PM Boris Johnson. 

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