John Cumming, senior client manager, looks at the top stories for the week ahead.
We’re heading into an important week for UK – EU relations.
Senior Brussels figures will descend on London today for a summit, hosted by Keir Starmer, where the prime minister will seek to reset the UK’s trading relationship with Europe.
He is looking to reduce red tape, improve security cooperation and reestablish ties in energy, travel, and education. We can expect to see movement on other issues including youth mobility, visa access for touring artists, electricity trading and law-enforcement cooperation.
It has been reported the UK government could compromise on fishing rights in return for access to the €150 billion EU rearmament fund, Security Action for Europe (Safe). Either way, the outcome of this element of the negotiations will be key for Scotland, given the vital importance of the North Sea fishing industry and the central role the defence sector plays in Scotland’s economy.
Ahead of the summit, STV’s Haley Bouma visited Peterhead where local fishermenexpressed concern that a more damaging deal could harm an already struggling sector and many coastal communities.
In brief - Scotland's economy and business
Our friends at the think tank, now formally known as Reform Scotland, have announced their name change to avoid confusion with Nigel Farage’s political party. Reform Scotland will now be known as Enlighten. Director Chris Deerin, said the new name evoked the spirit of the Scottish Enlightenment, "the intellectual flourishing, the pragmatism, the empiricism, the intellectual courage that came then". The rebrand has been welcomed by both the first minister and the secretary of state for Scotland, who both acknowledged the important role think tanks can play in democratic debate.
Diageo, owner of Johnnie Walker and Guinness, expects a $150 million annual hit from U.S. tariffs and has launched a $500 million cost-cutting programme named ‘accelerate’. This comes after third-quarter net sales rose 2.9% to $4.4 billion, with the company saying its response to macro-economic challenges will ensure it is “well-positioned to deliver sustainable, consistent performance while maximising shareholder returns”.
The Sunday Times reported that double Wimbledon champion Andy Murray is set to join a venture capital firm in London as an associate partner. Murray will be working with Redrice Ventures to identify investment opportunities, with a particular focus on sport-related investments.
It has been suggested that up to 1750 jobs could be at risk at the University of Edinburgh as a result of the financial challenges facing the institution, although the university hasn’t confirmed the figures. The Edinburgh branch of the University and Colleges Union (UCU) calculated the potential scale of job losses, following discussions with bosses who have said that staff savings will need to total around £90m if the university’s deficit is to be addressed. Principal, Sir Peter Mathieson, has said cost-savings are vital to ensure the university remains “strongly placed for the future”.
OpinioNation - columns of interest
Writing for The Times, former prime minister, Sir John Major, explores the crisis facing the UK’s prison system – caused by overcrowding, rising costs, and its failure to rehabilitate offenders. He calls for a rethink of how punishment is delivered, especially for low-level and non-violent offenders, including a shift away from short-term prison sentences. He puts particular focus on female offenders, most of whom are jailed for minor and non-violent crimes, given the significant detrimental impact on the wider family when mothers and other primary caregivers are jailed.
Ruchir Sharma, chairman of Rockefeller International, wrote for The FT today, highlighting the rise in Sweden’s billionaire wealth with 45 billionaires calling the Nordic state home, roughly 1.5 times more per capita than the US. Sharma notes that, while political anger in Sweden is currently focused on crime and immigration, there is a risk of an anti-capitalist backlash, with historical patterns suggesting that when “bad” billionaire wealth dominates, political revolts often follow.
Writing for The Scotsman, the chief executive of the Scottish Chambers of Commerce, Dr Liz Cameron, argues the UK government's latest immigration white paper could have a harmful impact on Scotland’s economy. Dr Cameron sets out the positive case for immigration, and the role it can play in addressing labour shortages and Scotland’s ageing population. She highlights how a liberal approach to immigration has benefited high-performing economies, such as Canada and Singapore. She also advocates for a rural worker visa, which could help to reverse depopulation in many parts of Scotland.
Marking the 15-year anniversary of the Isle of Rum being brought into community ownership, Elle Duffy wrote a piece for The Herald that captures the community spirit at the heart of island life.
The week ahead - fill your diary with key events
Monday
- UK – EU summit in London
- Prime minister: Starmer to address backbenchers at a meeting of the parliamentary Labour party
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House of Commons:
- Defence questions
- MPs debate the Mental Health Bill
- Joint National Security Committee to hear from experts on the protection of subsea cables
- Terrorism: Independent reviewer of terrorism legislation, Jonathan Hall, to deliver a lecture at the Policy Exchange
Tuesday
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House of Commons
- UK and Ukrainian foreign affairs committees to hold a joint session discussing Russian disinformation
- Treasury ministers to take questions from MPs
- Environment secretary Steve Reed to appear before MPs on the environment select committee
- Victims and Courts Bill to be debated in the chamber
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Holyrood:
- Ministerial statement on the Climate Change Plan Monitoring Report 202MSPs on the net zero committee discuss plans for the future of Grangemouth, with senior energy sector figures in attendance
- Oil and gas: Shell to hold its AGM in London
- G7 finance ministers begin three days of meetings in Banff, Alberta
- First day of the Chelsea Flower Show
Wednesday
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Holyrood
- Deputy first minister, Kate Forbes, to take questions from MSPs in the chamber
- Michael Shanks to appear before the Economy and Fair Work Committee to give evidence on Grangemouth’s industrial future
- Government debate on empowering Scotland’s island communities
- Clare Adamson to lead a members debate on the harm of gambling addiction
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House of Commons:
- PMQs
- Northern Ireland questions
- Work and pensions committee to hear evidence from experts on pensioner poverty
- Energy planning and grid officials to appear at the ESNZ committee
Thursday
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Holyrood:
- FMQs
- Net zero, energy and transport questions
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House of Commons:
- DCMS questions
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House of Lords
- Michael Gove takes his seat in the upper house
- Just Transition Commission launches report in Aberdeen
- Stats: Immigration and migration figures released – expected to show a decrease in net migration
Friday
- Recess: House of Commons rises until 2 June
- Ofgem price cap announcement
Saturday
- Final day of the Cannes Film Festival
Sunday
- Tennis: French Open begins in Paris