Understanding Scotland Economy Tracker - November 2024 Insights
Catch up with the latest insights from the Understanding Scotland Economy Tracker (USET) - a quarterly survey of over 2000 people in Scotland.
Past event: Monday 25 November 2024
The latest results for the Understanding Scotland Economy Tracker, which tracks economic confidence and buying intentions over time, suggest a growing lack of optimism over the last three months and pose big questions for Shona Robison ahead of the Scottish Budget.
Scott Edgar, Senior Research Manager of the Diffley Partnership presented the latest findings from data collected at the beginning of November, including:
More than 1 in 6 people (17%) report strained relationships at home because of money
1 in 6 Scots (16%) report an impact on their physical health due to worries about money
1 in 3 people (32%) report an impact on their mental health due to worries about money
Only 15% say that concerns about money matters have not affected them
3 out of 4 people (75%) believe the economy works primarily in the interests of wealthy people
We were delighted to be joined by Sebastian Burnside, Chief Economist at Natwest Group and Tejesh Mistry, Chief Executive at Voluntary Health Scotland. There was also a special guest reflection from Danny Dorling, the Halford Mackinder Professor of Geography at University of Oxford.
The event was kindly supported by The Royal Bank of Scotland.
Credit: Allan Lloyds, Live to Air
Find out more about the research:
About the Speakers:
Scott Edgar, Senior Research Manager, The Diffley Partnership
Scott joined the Diffley Partnership following previous roles in social research in the Electoral Commission and the Ministry of Housing, Communities and Local Government. Since joining the business he has managed a wide range of research projects including two of Diffley Partnership’s regular quarterly surveys in Understanding Scotland and Understanding Business
Scott has significant expertise in statistical data analysis, research design, management of research projects and communication and has worked on several high profile and high impact projects. He has a degree in Political Research from the University of Strathclyde.
Sebastian Burnside, Chief Economist, Natwest Group
Sebastian joined the Royal Bank of Scotland in 2009 and has been Chief Economist for NatWest Group since 2018. His areas of interest include how society adapts to an ageing population; the economics of the climate transition; impact of technology and AI on jobs; the shift to defined contribution pension schemes and the microanalysis of customer transaction data.
Before joining RBS, Sebastian worked as an Economist for Ofcom and PwC. Sebastian holds degrees in Economics from a BSc in Economics from London School of Economics, and an MSc in Economics from The University of Edinburgh. Sebastian is Trustee Director of NatWest Group Retirement Savings Trustee Ltd.
Tejesh Mistry, Chief Executive Officer, Voluntary Health Scotland
Tejesh joined Voluntary Health Scotland as Chief Executive in March 2024. Tejesh has a wealth of experience, working as Director of External Affairs at Venture Trust for 4 years until August 2023; and was Interim Director for Voluntary Action South Lanarkshire (VASLan), a Third Sector Interface.
Tejesh previously held senior roles with the Royal Voluntary Service and with Cycling UK where he led behaviour change programmes to reduce loneliness and to improve physical and mental wellbeing. He was appointed to the Board of Sport Scotland in April 2022.
Danny Dorling, The Halford Mackinder Professor of Geography at University of Oxford
Danny Dorling joined the School of Geography and the Environment in September 2013 to take up the Halford Mackinder Professorship in Geography. He was previously a professor of Geography at the University of Sheffield. He has also worked in Newcastle, Bristol, Leeds and New Zealand, went to university in Newcastle upon Tyne, and to school in Oxford.
His work focuses on housing, health, employment, education and poverty. and his work concerns core issues affecting the economy: housing, health, employment, education, inequality and poverty.
Risky Business: employment and financial wellbeing?
Catch up with the launch of our latest research which investigates the Great Risk Transfer and the changed relationship between employment and financial wellbeing.
Past Event: Tuesday 22th August 2024
In this event we heard the latest research which investigates the Great Risk Transfer and the changed relationship between employment and financial wellbeing, published in partnership with the Institute and Faculty of Actuaries.
The report examines the impact of the Great Risk Transfer on individuals and society through the changing relationship between employer and employees. What are the implications on productivity and government aspirations for economic growth? This new research builds on our work from 2022, The Great Risk Transfer - have we got the balance right?
Lead researcher, Shelagh Young presented the findings and was joined for reflections by Catherine McWilliam from the Institute of Directors and Allison Barnes from the Money and Pensions Service.
Understanding Scotland economy tracker August 2023
Why does the latest Understanding Scotland economy tracker (USET) raise concerns about government policy on nutrition? And how is this a ticking time bomb for public health, the labour market and productivity? Consider these questions and many more in August’s USET results discussion.
This event launched the latest findings in our quarterly research series. Our regular survey with the Diffley Partnership helps us to understand and monitor changes in economic attitudes and public opinion over time.
The recent data have shown that skipping meals and cutting down on portion sizes have consistently been coping strategies for up to a quarter of Scottish households as the cost of living has risen.
In this session, Mark Diffley presented the latest tracker results and then we will reflect on the long term implications of the data by asking: is this household response to financial stress a long-term risk to public health and the economy?
To help us explore this question, Kate Elliot, from Rathbone Greenbank Investments, will join us. Her team led the creation of the Investor Coalition on Food Policy - a group of 23 investors representing over £6 trillion in assets under management. The work analyses the systemic risks and compelling business case for investors to include the negative impact of poor dietary health on the workforce and economic growth.
Mark and Kate were joined by Pete Ritchie, Executive Director of Nourish Scotland. Pete will reflect on the new data from his perspective after many years experience of working to bring change towards a healthier, more sustainable food system.
In the light of recent reports that the average height of UK five year olds is slipping behind other European nations and established evidence that poor diets contribute to four out of the top five risk factors for early death, ill health and disability in Scotland we felt the time is right to ask what action business and policy-makers can take to help avert another growing crisis.
Read the research insights
Is Trust a Must?
This webinar hosted by the David Hume Institute explored trust as a hidden component of a successful economy using Charlie Wood’s most recent discussion paper “Is trust an undervalued ingredient for a thriving economy?”
Past Event: 25th June 2023
Hot on the heels of our new discussion paper “Is trust an undervalued ingredient for a thriving economy?” on Thursday 25th June 2023, the David Hume Institute hosted an engaging webinar to explore the critical role of trust in our economy and society.
David Hume Institute Director, Susan Murray was joined in conversation from New York by Dr David M. Bersoff, from the Edelman Trust Institute. David shared the global context on trust from the 2023 Annual Trust Barometer. He explored questions such as, ‘What does the Barometer tell us about trust in the UK compared to the rest of the world?’, and ‘What do higher levels of trust mean for the economy and the labour market?’
Susan and David were also joined by Charlie Woods, the author of our recent DHI discussion paper, he reflected on the role of trust and the economy, and leading mediator John Sturrock, who works to build trust in negotiations.
This thought-provoking discussion featured expert speakers and in-depth analysis. Trust is often overlooked as a key component of a thriving economy and society. Our speakers made a compelling case for its crucial role in a successful economy.
This event was open to anyone interested in the future of our economy and society, from economists and policymakers to business leaders and students. Throughout the webinar attendees had the opportunity to ask questions and engage in lively debate with others who are interested about the role of trust in economic success.
Understanding Scotland: public perceptions of the economy
Catch up with the February 2023 findings of our quarterly research series, Understanding Scotland: Economy, which tracks economic confidence and buying intentions over time, as well as helping us to understand and monitor economic attitudes and public opinion.
Past event: 1st March 2023
On Wednesday 1st March 2023 we discussed the latest insights from our most recent Understanding Scotland quarterly survey of economic attitudes and expectations. Our regular survey tracks economic confidence and buying intentions over time, as well as helping us to understand and monitor public opinion.
For this event we were joined by Mark Diffley, Shona McCarthy and David Eiser. The conversation brought to life what is valuable data and essential information for decision makers in all sectors.
Mark Diffley is a researcher and political pollster with over 20 years’ experience.
Shona McCarthy joined the Edinburgh Festival Fringe Society as Chief Executive 7 years ago. Shona has championed the Edinburgh Fringe as the world’s leading performing arts festival and expo, founded on the principles of open access and freedom of expression.
David Eiser, is Director of Research, Analysis and Investigations at Consumer Scotland, the recently established statutory organisation for consumers in Scotland.
Understanding Scotland: public perceptions of the economy
Catch up with the November 2022 findings of our quarterly research series, Understanding Scotland: Economy, which tracks economic confidence and buying intentions over time, as well as helping us to understand and monitor economic attitudes and public opinion.
Past Event: 22nd November 2022
On Tuesday 22nd November 2022, we launched the latest findings in our quarterly research series, Understanding Scotland Economy. Our regular survey with the Diffley Partnership tracks economic confidence and buying intentions over time, as well as helping us to understand and monitor economic attitudes and public opinion.
Mark Diffley discussed the new data with Professor Mairi Spowage, Director of the Fraser of Allander Institute, and Shan Saba, Director of Brightwork.
Mark Diffley is a researcher and pollster with over 20 years experience. After 10 years as Director of Ipsos MORI in Edinburgh, Mark set up a new business in 2017, delivering research and insight for clients across the public, private and third sectors in Scotland and further afield.
Mairi Spowage is Director at the Fraser of Allander Institute at the University of Strathclyde. Previously, Mairi was the Deputy Chief Executive of the Scottish Fiscal Commission and the Head of National Accounts at the Scottish Government. She has over a decade of experience working in different areas of statistics and analysis.
Shan Saba is Director of Brightwork, an established multi-sector recruitment agency with an outstanding reputation. Shan is also the Founder of Scotland Against Modern Slavery, Board Member at Refugee Survival Trust and Advisory Committee Member of Show Racism The Red Card.
Click to view Mark’s slides.
The Great Risk Transfer: have we got the balance right?
Catch up with this event about our latest research The Great Risk Transfer: have we got the balance right? published in partnership with the Institute and Faculty of Actuaries.
Past event: 3rd October 2022
This David Hume Institute event heard findings from our latest research The Great Risk Transfer: have we got the balance right? published in partnership with the Institute and Faculty of Actuaries.
The research explores what Scotland’s people feel about the shift in the balance of risk from institutions, such as employers and the State, to individuals. From managing pensions to insurance and housing. The discussion provided a chance to reflect on the research and discuss who is benefiting from the new levels of choice in managing the risks in their lives?
Lead researcher, Shelagh Young presented the findings and was joined for reflections by John Taylor, past president of the Institute and Faculty of Actuaries and Mubin Haq, Chief Executive of the abrdn Financial Fairness Trust.
Click to view Shelagh’s slides separately from the event recording.
Understanding Scotland: public perceptions of the economy
Catch up with the August 2022 findings of our quarterly research series, Understanding Scotland Economy which tracks economic confidence and buying intentions over time, as well as helping us to understand and monitor economic attitudes and public opinion.
Past Event: 30th August 2022
On Tuesday 30th August 2022, we launched the latest findings in our quarterly research series, Understanding Scotland Economy. Our regular survey with The Diffley Partnership tracks economic confidence and buying intentions over time, as well as helping us to understand and monitor economic attitudes and public opinion.
Mark Diffley discussed the new data with Dr Samuel Mwaura from University of Strathclyde and Aveek Bhattacharya, Chief Economist with the Social Market Foundation. This free in-person event was kindly hosted by Brodies.
Mark Diffley is a researcher and pollster with over 20 years experience. After 10 years as Director of Ipsos MORI in Edinburgh, Mark set up a new business in 2017, delivering research and insight for clients across the public, private and third sectors in Scotland and further afield.
Dr Samuel Mwaura is lecturer of entrepreneurship at the Hunter Centre for Entrepreneurship, University of Strathclyde Business School. Samuel’s recent work has focused on innovation and its impact on productivity, SME financing, the link between entrepreneurship and household wellbeing (including household wealth).
Aveek Bhattacharya is Chief Economist at the Social Market Foundation. Prior to that, he was Senior Policy Analyst at the Institute of Alcohol Studies, researching and advocating for policies to reduce alcohol-related harm and as a strategy consultant, advising clients across a range of sectors including retail, consumer goods, software and services.