Leading Economists to Give Expert Advice
Members of an expert panel providing advice to the Scottish Government as part of its Emergency Budget Review (EBR) have been confirmed.
Sir Anton Muscatelli, Professor Frances Ruane and Professor Mike Brewer will assess the impact on Scotland of the UK Chancellor’s fiscal approach, and held their first meeting with Deputy First Minister John Swinney on 29th September.
Their advice will enable timely consideration of the implications of the UK Government’s fiscal event, as work continues to prioritise the Scottish Government’s budget towards tackling the cost of living crisis. The Deputy First Minister has announced he will report the results of the EBR in the week beginning 24 October.
Recent macroeconomic decisions by the UK Government are already wreaking havoc on the pound, the mortgage market, pensions and of course threaten public services and the financial position of the Scottish Government.
Unlike its completely reckless UK counterpart, the Scottish Government recognises the importance of listening to experts – and this panel will help inform the Scottish response to current circumstances.
The cost of living crisis was already seeing people in Angus and across Scotland struggle, and the new Prime Minister and Chancellor have only thrown oil on their fire.
Despite Scotland having rejecting it at the ballot box for decades, the Tories’ ideological prioritisation of the very richest – at the expense of everyone else – continues to hold us back.
The @scotgov Emergency Budget Review will be informed by a panel of experts, including economists who will look at the impact of the Chancellor's fiscal approach.
The results of the review will be outlined in w/c 24 October.
— Scottish Government Finance and Economy (@scotgoveconomy) September 27, 2022
– Deputy First Minister, John Swinney
The Scottish Government wants to make sure it gets the very best advice and fresh perspectives as Ministers consider the complex and difficult decisions we face while tackling the challenges ahead.
The radical shift in UK economic policy announced by the Chancellor has already caused significant economic shock.
For the benefit of the people and businesses of Scotland, many of whom will find themselves paying higher prices as a result, it is vital that we consider the current situation and potential solutions with care.
The members of the panel all bring robust economic insight and I am grateful to them for giving their time and expertise as we navigate these uncharted economic waters.
The expert panel members, whose positions are non-remunerated, are:
Sir Anton Muscatelli – Principal of the University of Glasgow. He was knighted in June 2017 for services to higher education. Formerly principal of Heriot-Watt University, he has been an adviser to the House of Commons Treasury Select Committee on monetary policy since 2007. He chairs the Scottish Government’s Standing Council on Europe, a non-political group which provides expert advice to Scottish Ministers on protecting Scotland’s relationship with the EU, and he was a member of the Scottish Government’s Council of Economic Advisers between 2015 and 2021 and a member of the Advisory Council for Economic Transformation.
Professor Frances Ruane – A Research Affiliate at the Economic and Social Research Institute since 2015. She is currently Chair of the National Competitiveness and Productivity Council and in that role represents Ireland on the European Network of National Productivity Boards. Prof Ruane has previously served as the European Statistical Advisory Committee and the European Statistical Governance Advisory Board . In addition, she previously served three terms on the Council of Economic Advisers in Scotland. She will provide an external perspective to the panel on issues such as the competitiveness of Scotland’s tax regime.
Professor Mike Brewer – Chief Economist and the Deputy Chief Executive of the Resolution Foundation, where he oversees all aspects of the Foundation’s research agenda. He is a visiting Professor at the Department of Social Policy at the London School of Economics and between 2011 and 2020 was a Professor of Economics at the University of Essex. He has also worked at the Institute for Fiscal Studies and HM Treasury.