Aoife Hollywood, client manager, looks at the top stories for the week ahead.
All eyes on Westminster this week as Chancellor Rachel Reeves prepares to deliver a tough Spring Statement on Wednesday, warning of the UK’s financial woes. GDP growth has been downgraded to just 1.3% from 2%, while higher interest rates will add £10bn to government debt servicing costs.
With no immediate tax hikes, Reeves instead plans to balance the budget through welfare cuts and reduced departmental spending, though opposition within her party and Cabinet is growing. Scottish Finance Secretary, Shona Robison has urged the chancellor to move away from the “failed approach of austerity” advocating instead for prioritising “vital funding for public services and infrastructure”. The Treasury’s focus will be on stability, and any major tax shifts will likely be pushed to the autumn Budget. Reeves may have wanted to keep a low profile in the run up to such an important set piece, but the recent scandal over free Sabrina Carpenter concert tickets, means this may prove difficult. Expect her address at 12:30 pm on Wednesday.
In Saudi Arabia, US-Russia talks on the war in Ukraine are underway. Following talks with Ukraine’s delegation yesterday, the US is meeting with Russian officials today. Ukraine seeks to end attacks on its energy infrastructure and protect its territorial integrity, while Russia demands a halt to military aid and intelligence sharing. Diplomatic breakthroughs are the goal of these critical discussions.
Across the Atlantic, Canadian Prime Minister Mark Carney has called asnap election for 28 April, aiming for a clear mandate to stand up to US President Donald Trump, who has escalated tensions with Canada through a trade war and his rhetoric around making Canada the 51st state.
And don’t forget: this Sunday marks daylight-saving time, so remember to spring your clocks forward an hour.
In brief - Scotland's economy and business
Glasgow has risen five places to 32nd in the latest Z/Yen Global Financial Centres Index, showcasing the city's growing strength in the financial sector. Edinburgh remains in 29th but has seen an improvement in its score, underscoring the continued expansion of Scotland’s financial services industry, driven by major global players. Scottish Financial Enterprise, the sector trade body, said the ratings of both cities are evidence that the sector growth strategy launched at the end of 2023 is delivering results.
Stirling is poised to have the fastest-growing economy in Scotland, with an anticipated annual growth of 1.7% in Gross Value Added (GVA) from 2025 to 2028, ranking joint first with Edinburgh, according to Ernst & Young’s UK Regional Economic Forecast. The city’s robust performance in tech-driven industries, life sciences, and digital innovation has positioned it as one of the UK’s top performers, also securing a place in the top ten for projected employment growth.
Hostelling Scotland, a charity operating 29 youth hostels and 24 affiliates across the country, is launching Happy Hosteller Breaks to offer free stays to disadvantaged young people and families. The initiative, marking the revival of its residential programme, aims to support those most in need after the pandemic impacted both the charity’s income and its ability to fund youth action work. Funded by memberships and donations, it continues Hostelling Scotland’s mission to provide life-changing experiences for communities across Scotland.
OpinioNation - columns of interest
In The Herald, Dani Garavelli examines how Adolescence has sparked debate on teenage violence, online misogyny, and the dangers of unfiltered internet access. While praised for its nuance, she questions whether the show is being used to justify simplistic solutions, like banning smartphones for under-16s. Instead, she argues the real issue lies in generational divides and the need to equip young people with resilience against harmful ideologies.
In The Sunday Times, Matthew Syed (£) takes on our tendency to dwell on the negatives, arguing that, despite real challenges, life today—especially in the West—is better than ever. From instant access to knowledge and entertainment to cheaper travel and longer lifespans, he suggests we’re so fixated on doom and gloom that we risk missing out on the incredible progress right in front of us.
In The Scotsman, Adam Morris urges (£) caution over the hype surrounding Reform UK’s recent polling gains in Scotland. While the numbers suggest a surge, particularly among young and working-class voters, he warns that these groups historically turn out in lower numbers on election day. Add to that Reform UK’s lack of ground-level organisation and vetted candidates, and their supposed rise starts to look shaky. Morris argues that while their appeal taps into discontent, translating that into real electoral success is a far tougher challenge than the headlines suggest.
The week ahead - fill your diary with key events
Monday
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Westminster
- House of Commons: oral questions on defence
- Planning and Infrastructure Bill: second reading
- Bank of England governor Andrew Bailey is guest speaker for the University of Leicester Chancellor’s Distinguished Lecture, talking on growth in the UK economy
Tuesday
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In the Holyrood chamber
- Ministerial Statement: Scottish Government Response to the Grenfell Tower Inquiry Phase 2 Report
- Scottish Government Debate: Scotland - A Fair-Trade Nation
- In the Holyrood committee rooms
- Local Government, Housing and Planning Committee will take evidence and consider on Building Safety and Maintenance; consider a draft report on the Housing Inquiry; consider correspondence from the Cabinet Secretary for Social Justice on Child Poverty; consider correspondence from the Minister for Parliamentary Business on electoral boundaries and the independent review of automaticity
- Health, Social Care and Sport Committee to take evidence on the Right to Recovery (Scotland) Bill at stage 1; consider written testimonies on the Assisted dying for Terminally Ill Adults (Scotland) Bill; evidence on Environmental Standards Scotland (Annual Report and Accounts 2023-24 and future priorities)
- Net Zero, Energy and Transport Committee will take evidence on the Environmental Authorisations (Scotland) Amendment Regulations 2025
- Delegated Powers and Law Reform Committee will consider an update to its approach to the scrutiny of Leases (Automatic Continuation etc.) (Scotland) Bill
- Child protection statistics, 2023-2024
- Housing statistics for Scotland quarterly update
- Deaths in prison custody, 2012-13 to 2022-23
- National Mission on Drugs: Annual Monitoring Report, 2023-2024
- Scottish Transport Statistics, 2024
- Migration Statistics, Mid-2023
- National Drug and Alcohol Treatment Waiting Times, Oct-Dec (Q3) 2024/25
- House of Commons: oral questions on health and social care
- House of Commons: consideration of Lords amendments to the Great British Energy Bill
- Westminster Hall debate: construction standards for new build homes
- Scottish Affairs Committee: oral evidence on the work of the department
- Scottish Government data
- Westminster
- HSBC Global Investment Summit, hosted by the bank’s chair Mark Tucker, in Hong Kong. Speakers at the two-day event include Hong Kong financial secretary Paul Chan Mo-po and Hong Kong chief executive John Lee
- Shell publishes its annual report, including details of chief executive Wael Sawan’s pay package
- Full-year results from AG Barr
- Greece: Independence Day
Wednesday
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In the Holyrood chamber
- Portfolio Questions: Deputy First Minister Responsibilities, Economy and Gaelic: Finance and Local Government
- Ministerial Statement: Secure Accommodation in Scotland - Capacity
- Stage 1 Debate: Land Reform (Scotland) Bill
- Financial Resolution: Land Reform (Scotland) Bill
- In the Holyrood committee rooms
- Rural Affairs and Islands Committee will take evidence on Dog Theft (Scotland) Bill at stage 1
- Criminal Justice Committee will consider the Victims, Witnesses, and Justice Reform (Scotland) Bill
- Education, Children and Young People will take evidence on the Promise
- Public Audit Committee will take evidence on the administration of Scottish income tax
- Economy and Fair Work Committee will take evidence on skills delivery; consider its approach to the scrutiny of Community Wealth Building (Scotland) Bill
- House of Commons: oral questions on science, innovation and technology
- Prime Minister’s Question Time
- Spring Statement by the Chancellor of the Exchequer
- Legislation: Tobacco and Vapes Bill, remaining stages
- Business and Trade Committee: oral evidence on the Industrial Strategy
- House of Lords: oral questions on energy price control
- Westminster
- GDP Monthly Estimate, 2025 M1 January
- UK House Price Index Scotland, UK House Price Index Scotland: January 2025
- UK: February CPI and PPI inflation rate data. Also, UK House Price Index
- Bangladesh: Independence Day
Thursday
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In the Holyrood chamber
- General Questions
- First Minister’s Questions
- Members' Business — S6M-16128 Liz Smith: 300 Years of The Black Watch
- Portfolio Questions: Net Zero and Energy, and Transport
- Ministerial Statement: Response to Fatal Accident Inquiries (Deaths in Custody)
- Stage 1 Debate: Schools (Residential Outdoor Education) (Scotland) Bill
- Poverty and Income Inequality in Scotland, 2021-2024
- Scottish Government data
- Business Insights and Conditions Survey (BICS) Weighted Scotland Estimates, Wave 128
- Energy Trends, Q4 2024 Data Scottish Government data
- UK: Bank of England February capital issuance figures
Friday
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Scottish Government data
- Business Insights and Conditions Survey
- UK: revised Q4 GDP estimate, plus February retail sales figures for Great Britain
- UK: Reform UK party stages a mass rally in the Utilita Arena, Birmingham — billed as its “biggest event yet” — to launch its campaign for local elections on May 1, as well as building momentum for the upcoming by-election in Runcorn
Sunday
- Eid al-Fitr (End of Ramadan)
- EU: European daylight savings time begins
- UK: British Summer Time begins. Also, Mothering Sunday