David Hume Institute: Understanding Scotland Economy Tracker

Many thanks to the David Hume Institute for inviting me to speak at their February Breakfast Briefing. The event reflects on the latest results for their Understanding Scotland Economy Tracker, which tracks  economic attitudes, behaviours and spending intentions in Scotland.

New polling data shows healthcare and the cost of living remain the biggest concerns for people living in Scotland, with an increasing number turning their attention to the economy. The data, collected in the first week of February 2025, highlights persistent personal financial pressures, widespread spending cutbacks, and limited optimism about economic recovery in the year ahead. Healthcare remains the top priority for Scots, with concern rising by four percentage points to 50%, while the cost of living remains a pressing issue at 34%. At the same time, concern about the economy is resurging, increasing by four percentage points to 20%, up from a low of 16% in November 2024.

I was invited to reflect on the findings related to financial pressures and cost-cutting behaviours, particularly the data that more than half of Scots (53%) are cutting back on leisure activities and reducing non-essential spending (52%). I joined Gary Gillespie, Chief Economist for the Scottish Government, for a really interesting and wide-ranging discussion.

You can review the data, and watch the event recording, on David Hume Institute's website: https://davidhumeinstitute.org/past/2025/1/28/understanding-scotland-economy-tracker-february-2025-insights