Aoife Hollywood, client manager, looks at the top stories for the week ahead.
After a scorcher of a weekend that saw people across Scotland enjoy some of the country’s warmest weather in over two years, it’s back to business with Chancellor Rachel Reeves once again set to grace the headlines with her Mansion House speech on Tuesday.
With recent fiscal U-turns denting market confidence and inflation expected to rise to around 3.5 percent on Thursday, economic headwinds remain strong with Reeves likely to face another challenging week.
Rather than addressing investor concerns over a wealth tax directly, government officials say she will focus on pledging more advice and support to encourage the public to invest in stocks and shares – particularly in British companies.
However, over the weekend Transport Secretary Heidi Alexander stopped short of ruling out new levies at the autumn budget. Though proposals like those backed by former Labour leader Lord Kinnock weren’t “directly” discussed at Friday’s cabinet awayday, calls from unions, MPs, and Kinnock himself to tax “unearned income”, such as returns from savings, investments, and property, are gaining momentum.
On the international trade front, the European Union has postponed plans to impose tariffs on $21 billion worth of US goods, including chicken, motorcycles, and clothing. Originally set to begin this Tuesday, the tariffs have been delayed until early August in the hope of reaching a negotiated solution after President Trump announced a 30 percent tariff on European exports starting 1 August. EU Commission President Ursula von der Leyen stressed yesterday evening that dialogue remains the preferred path forward.
In case you missed it, senior partner Sabina Kadić-Mackenzie, a survivor of the Bosnian war, reflected on the 30th anniversary of the Srebrenica genocide in last week's View from the Street. She wrote:
“Thirty years after those horrors, Bosnia is still waiting. Waiting for bones to be unearthed and laid to rest. Waiting for justice. Waiting for a peace that doesn’t feel conditional... peace is not only the absence of war.”
More than 8,300 men and boys were killed in just days, and though peace was swiftly brokered, Bosnia remains trapped in a cycle of waiting for true justice and lasting peace. Sabina stresses that above all, Bosnians deserve for the truth to prevail.
In brief - Scotland's economy and business
One in eight high street shops in Scotland now lie empty, with the town centre vacancy rate rising to 12.3% in 2023-24, up from 11.9% the previous year and 11.4% in 2021-22. The worst hit area was South Ayrshire, where 35.3% of town centre shops were vacant. Aberdeen followed at 20.7%, with Fife close behind at 18.8%. The figures reflect what experts describe as “decades of decline” across Scotland’s retail landscape. Scottish Labour has called for increased council funding and cuts to business rates to help revive town centres and support local businesses.
Scottish Secretary Ian Murray has urged Glasgow City Council leader Susan Aitken to join efforts to reverse the Scottish Government’s centralisation approach and strengthen local control. The Treasury confirmed £160 million for an Investment Zone in the Glasgow Region and £20 million for Trailblazer Communities, but Aitken warned the package fell well below the long-term, flexible funding now available to English city regions. Murray offered to co-sign a letter to the First Minister calling for a shift in power to cities like Glasgow, arguing it is essential for unlocking growth.
OpinioNation - columns of interest
Keir Starmer may have won power –but he hasn’t yet gained control. Writing in the Financial Times (£), Simon Case argues that deep structural dysfunctions in the UK’s governance make real change nearly impossible. From rebellious MPs to tangled planning laws and unaccountable quangos, the state is riddled with hidden vetoes. If Starmer wants to deliver on his promises, he’ll need more than ideas – he’ll need demolition tools.
Graduate jobs are vanishing. AI is replacing the entry-level grunt work. So, what happens to all the bright young minds? Charlotte Ivers, writing in The Sunday Times (£), suggests we might be heading toward a crisis – not of revolution, but of resignation. The answer, she argues, isn’t to abandon them, but to rethink work: let AI handle the menial tasks and give young minds something meaningful.
John Harris, in his Guardian piece, argues that despite the noise of division and fear dominating UK politics, there’s actually a quieter, more progressive majority emerging. He calls this “new England” – a group that supports climate action, fairer taxes, and more open immigration – challenging the popular view that the country is heading toward reactionary politics. Harris points out that with Lib Dems and Greens gaining ground, the political landscape is shifting, but he believes it’s still waiting for a party that truly represents this changing mood.
The week ahead - fill your diary with key events
Note: The Scottish Parliament is in recess until 31 August.
Monday
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Westminster
- House of Commons, oral questions: Housing, Communities and Local Government
- House of Lords, oral questions: Increasing rail freight by 75 per cent by 2050
- House of Lords, oral questions: Number of TV advertisements shown for less healthy food as a result of delays to planned restrictions; and plans to publish impact statements on children's' health
- Health and Social Care committee, oral evidence: The 10-year health plan
- National Security Strategy, oral evidence
- China-EU Sixth High-Level Environment and Climate Dialogue in Beijing
- France: Bastille Day
Tuesday
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Westminster
- House of Commons, oral questions: Energy Security and Net Zero
- Opposition Day Debate
- Westminster Hall debate: Beer duty
- House of Lords, oral questions: The Competition and Markets Authority’s investigation of seven major housebuilders regarding information sharing
- House of Lords, legislation: Renters’ Rights Bill – report stage
- Housing, Communities and Local government, oral evidence: Delivering 1.5 million new homes: Land Value Capture
- Industry and Regulators Committee, oral evidence: Building safety regulator
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Scottish Government data
- Evaluation of the National Drug Deaths Mission: Lived experience survey
- UK: Bank of England governor Andrew Bailey and Rachel Reeves to speak at Mansion House
Wednesday
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Westminster
- Prime Minister’s Question Time
- Scottish Affairs Committee, oral evidence: Industrial transition in Scotland
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Scottish Government data
- UK House Price Index Scotland, UK House Price Index Scotland: May 2025
- UK: June CPI
Thursday
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Westminster
- House of Commons, oral questions: Business and Trade
- House of Lords, oral questions: Amendments to the European Convention of Human Rights
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Scottish Government data
- Labour Market Trends, July 2025
- UK: Employment and wage statistics
- South Africa hosts two-day G20 meeting of finance ministers and central bank governors
- SSE holds AGM and announces trading updat
Friday
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Westminster
- Debate on the Strategic Defence Review
- BBC Proms begins
- Germany to host immigration ministers at summit on asylum rules
Saturday
Japan to hold upper house election