Weekly update... and what a week - From The Fraser of Allender Institute

22nd October 2022

The Fraser of Allender weekly summing up had plenty to write about. The week has certainly had its dramas and looks be more for a while yet.

This weeks blog covers -
Economic Case for Independence published
Somewhat overshadowed by events at Westminster, the Scottish Government published the third in their series of papers to set out a new case for independence on Monday. This paper, "A stronger economy with independence" was expected to set out the economic case, covering issues such as currency, trade, and public sector finances.

Inflation goes back above 10%
The Office for National Statistics (ONS) published September inflation data, which showed that CPI inflation had gone back into double digits, running at 10.1%.
Underneath the headline rate, food and non-alcoholic beverages inflation is now estimated to be 13.1%. There was a slight downward pressure from motor fuels, as the prices at the pumps fall back from the peaks they reached in July.

New Public Sector Finance Data published this morning
ONS have also put out the latest public sector finances release, which contains public finance statistics (including deficit and debt) up to September 2022.
More broadly, it contains up-to-date statistics on the size of the UK National Debt. Debt has reached £2.5 trillion, which is equivalent to 98% of GDP - levels not seen since the 1960s.

No confirmation on the Scottish Government's Emergency Budget Review
As we write this, we have no confirmation whether the Scottish Government's Emergency Budget Review (EBR) will go ahead next week, as previously indicated.

Read the full article HERE