2018 promises to be an important year for the Scottish economy.
As the analysis in the latest Fraser Economic Commentary highlights, whilst the Scottish economy retains long-term strengths, early indications are that 2018 will be another challenging year.
Clearly Brexit remains the greatest headwind the Scottish economy faces.
We have argued on a number of occasions that the decision to leave the EU will damage Scotland’s long-term growth prospects.
Progress has been made with regard to the transition period the UK and the EU will operate within up to December 2020. But whilst this creates space for further discussion, most of the major economic issues with respect to the UK’s relationship with the EU post-Brexit remain unanswered.
In 2018 businesses will look for much greater evidence that the UK Government has a clear vision for life outside the EU that not only satisfies business but can also secure the necessary parliamentary support.