Tag: economy

‘Long Covid’: the economy is also badly out of puff

Douglas FraserBusiness/economy editor, Scotland Related Topics Scottish Budget image copyrightReuters The forecast contraction in the Scottish economy of 10% is in line with the UK, but worse than most other countries. Paying the bills may continue to weigh on health budgets well beyond this year, say fiscal experts, and we can expect big tax increases by 2025. Scots support higher… Read more →

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Island economy “scarred” by Covid-19 restrictions

Related Topics Coronavirus pandemic image copyrightGetty Images image captionSocial distancing has limited capacity to about 20% on some ferry services to and from Arran The loss of visitors and reduced ferry capacity to Arran during the Covid pandemic could have “long-term scarring effects” on the island’s labour market. A new study has highlighted a third of Arran’s economy is reliant… Read more →

Climate change and Covid economy ‘must be tackled together’

Image copyright Getty Images Image caption A taskforce is looking at whether projects such as tree planting could offer work and training opportunities Offering young people work on nature projects and converting empty offices into eco-homes are among the ideas being considered by a “green recovery” Welsh Government taskforce. Its boss Sir David Henshaw said it was “absolutely critical” climate… Read more →

Study of Orkney economy sheds light on island prosperity

Douglas FraserBusiness/economy editor, Scotland image copyrightGetty Images image captionPeople living in Orkney tend to work flexibly As northern isles rattle the independence cage, a study of Orkney’s economy sheds light on the distinctive nature of island prosperity, and points to some of the challenges small island groups might face. Orkney has strengths in renewable energy and tourism, but it points… Read more →

Coronavirus: Hit to global economy ‘will be less than expected’ in 2020

Image copyright NOAH SEELAM The damage to the global economy this year will be less than previously expected, but still “unprecedented”, a leading international body says. The Organisation for Economic Cooperation and Development now predicts a decline of 4.5% in 2020, versus the 6% drop forecast in June. It means it no longer expects the UK to have the deepest… Read more →

Coronavirus: Another lockdown would ‘devastate’ NI’s economy

Image copyright TOLGA AKMEN/Getty Another Covid-19 lockdown would be “devastating” for businesses in Northern Ireland, the economy minister has said. Diane Dodds said the pandemic was both a “health crisis and economic crisis”. It comes after the Department for the Economy’s top civil servant outlined the level of the economic crisis brought on by the Covid-19 pandemic. On Wednesday, Mike… Read more →

Scottish Labour unveils plan to ‘transform’ Scottish economy

Image copyright Getty Images Image caption Mr Leonard said the pandemic should be a “turning point” for the country’s economy and environment About 130,000 jobs could be created by transforming Scotland’s economy in the wake of the coronavirus pandemic, according to Scottish Labour’s leader. Richard Leonard said a “Green new deal” was needed to tackle both the economic crisis and… Read more →