The David Hume Institute, in conjunction with the Diffley Partnership, published the latest Understanding Scotland: economy insights on the 22nd of November 2022. The data, collected just prior to the chancellor’s Autumn Statement, shows almost universal pessimism and poses huge questions for our economic outlook. Nearly a year after the first report in this series, where are we now?
The data also shows large numbers of people are continuing to lose sleep, skip meals and get into debt due to the cost of living. The knock on effect of this on productivity and public health should concern us all
- 9 in 10 Scots believe general economic conditions are worse now than they were this time last year and 3 in 4 believe the situation will get worse over the coming year
- Just 1 in 10 believe that the economy, as it is currently organised, works in their own interests compared to 8 in 10 who think it works in the interests of wealthy people.
As with much of the current news cycle, the report is not easy reading but it is essential data for understanding people’s economic perceptions and behaviours, and helping action to weather the storm ahead.
Read the full report here.