Will Torness, client manager, looks at the top stories for the week ahead.
It has been a tough start to the new year for John Swinney, and while January is now firmly behind us, the political row and controversy surrounding the Scottish Hospitals Inquiry shows no sign of slowing down.
Over the weekend, reports suggested that newly uncovered documents show SNP ministers were warned about an infection outbreak at the Queen Elizabeth University Hospital at least a year before the Scottish Government said it was notified of the crisis, which is suspected to have been caused by contaminated water.
Opposition leaders have accused SNP ministers of misleading the public and applying political pressure to open the hospital before it was ready in the lead up to the 2015 general election.
The disgraced former UK ambassador to the US, Lord Peter Mandelson, has resigned from the Labour Party this morning, following the latest tranche of files related to Jeffrey Epstein which were released last Friday. While Mandelson has not been charged with any crimes and denies wrongdoing, new documents suggest that payments of $75,000 were made from Epstein to Mandelson while he was an MP two decades ago. Mandelson, who has been on a leave of absence from the Lords since his short time as ambassador, said he chose to leave the party to avoid causing “further embarrassment”. Housing secretary Steve Reed said on Sunday that Mandelson should testify before the US Congress.
On Thursday, the Bank of England’s (BoE) first interest rate decision of the new yearwill likely leave rates unchanged at 3.75% in response to an inflation uptick in December. Rates are expected to remain steady until at least April, and BoE governor Andrew Bailey has said he expects inflation to return to its 2% target by the middle of the year.
We could be just days away from liftoff for the Artemis II mission that will take humans to their furthest point yet in space, as NASA plans to send a team of astronauts around the moon for the first time in half a century. Weather has delayed the mission by a few days, with the earliest launch now set for next Sunday.
In brief - Scotland's economy and business
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Scottish businesses remain pessimistic, with cost pressures dampening investment prospects. As reported in The Scotsman (£), the latest Scottish Business Monitor from the Fraser of Allander Institute shows that Q4 of 2025 was the fifth consecutive quarter in negative territory. Businesses reported lower employment levels as well as weaker turnover. Cost remains the top concern, with nearly 80% of firms reporting higher total costs and 90% expecting further cost rises in the first half of this year.
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Despite positive news of a tariff deal struck with China last week, Daily Business reports that whisky distillers are renewing criticism of the UK government’s excise duty and its negative impacts on the industry. Yesterday, a 3.66% excise duty went into effect which increases the total tax on an average bottle of Scotch whisky from £10.58 in 2023 to £12.45. Scotch Whisky Association chief executive Mark Kent says more domestic support is needed to help the industry weather global headwinds.
- A French tech company with Scottish Government contracts – including NHS Scotland, Care Inspectorate and Student Awards Agency Scotland – has dumped its US subsidiary following reports that the firm was linked to people-tracking operations used by US Immigration and Customs Enforcement (ICE). The federal agency has been at the centre of controversial immigration raids that have sparked protests and the deadly shooting of two people in Minnesota in recent weeks. The Herald (£) reports that Capgemini has said its divestment process would “begin immediately”.
OpinioNation - columns of interest
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Graeme Gunn writes in The Scotsman (£) that the UK’s technology sector has enormous potential for economic growth, yet it’s at risk of stagnation without better policy coordination to attract international backers of small firms. Pointing to a recent reduction in tax incentives by the Treasury that he says demonstrates current policy inconsistency, Gunn lays out a further three-point list of recommendations for ensuring the UK can capitalise on its world-class tech strengths.
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As the first major electoral contest of 2026 heats up with candidate selections in Gorton and Denton, John Harris of The Guardian finds that discontent with the current government is palpable across the constituency. He writes that Labour’s persistent lack of a resonant narrative may spell trouble for the party in the upcoming by-election vote.
- Many of us are likely guilty of “circling back” to buzzwordy corporate jargon, no matter how hard we try to “take it offline” for a rethink. But are we now approaching peak jargon overload? Pilita Clark writes in the Financial Times(£) that her recent trip to Davos left her with plenty of unintelligible phrases to decode.
The week ahead - fill your diary with key events
Monday
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Westminster
- House of Commons: Oral questions on defence
- House of Lords: Oral questions on representations to the government of China to seek the release and return to Britain of Jimmy Lai; Committee stage of the Crime and Policing Bill
- UK Nationwide House Price Index figures for January released
Tuesday
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In the Holyrood committee rooms
- Net Zero, Energy and Transport Committee: Evidence on Draft Climate Change Plan
- Local Government, Housing and Planning Committee: Consider draft report on the Draft Climate Change Plan; evidence on the Visitor Levy (Amendment) (Scotland) Bill
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Scottish Government Data
- Scottish Local Government Finance Statistics 2024-25
- Households in Scotland by housing tenure: Scottish Households Survey 2024
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Westminster
- House of Commons: Oral questions on justice; Second reading of the Universal Credit (Removal of Two Child Limit) Bill
- Westminster Hall: Debate on the impact of taxation on small and medium-sized enterprises
- General Committee: Oral evidence on the Cyber Security and Resilience (Network and Information Systems) Bill
- Science, Innovation and Technology Committee: Oral evidence on innovation showcase
- Treasury Committee: Oral evidence on Financial Inclusion Strategy
Wednesday
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In the Holyrood chamber
- Portfolio Questions: Deputy First Minister Responsibilities, Economy and Gaelic; Finance and Local Government
- Scottish Conservative Party debate on finance/economy as well as on finance and local government
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In the Holyrood committee rooms
- Rural Affairs and Islands Committee: Crofting and Scottish Land Court Bill consideration at Stage 2
- Economy and Fair Work Committee: consideration of the legislative consent memorandum for the Cyber Security and Resilience (Network and Information Systems) Bill (UK Parliament legislation)
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Westminster
- Prime Minister’s Questions
- House of Commons: Oral questions on Science, Innovation and Technology
- House of Lords: Second reading of the National Insurance Contributions (Employer Pension Contributions) Bill
- Scottish Affairs Committee: Oral evidence on GB Energy and the net zero transition
- Environment and Climate Change Committee: Oral evidence on drought preparedness
- International Relations and Defence Committee: Oral evidence on the UK’s future relationship with the US
- Energy Security and Net Zero Committee: Oral evidence on building support for the energy transition
- UK International Reserves data released
- Trilateral talks between Ukraine, Russia and the US
- World Cancer Day
Thursday
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In the Holyrood chamber
- First Minister’s Questions
- Portfolio Questions: Climate Action, and Energy, and Transport
- Stage 1 debate: Ecocide (Scotland) Bill
- Stage 1 debate: Non-surgical Procedures and Functions of Medical Reviewers (Scotland) Bill
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Consulting Scotland
- Closing: Duty of Care – code of practice for managing controlled waste
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Westminster
- House of Commons: Oral questions on Environment, Food and Rural Affairs; Oral questions for the Attorney General’s Office
- House of Lords: Oral questions on reducing youth unemployment; Oral questions on the jobs market, and the implications for the wider economy
- Trilateral talks between Ukraine, Russia and the US continue
- Bank of England interest rate decision
- Men’s Six Nations rugby tournament opens with Ireland versus France
Friday
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Westminster
- House of Lords: Committee stage for the Terminally Ill Adults (End of Life) Bill
Sunday
- Elections held in Japan and Thailand
- Super Bowl LX