Understanding Scotland Economy Tracker - November 2023
The Understanding Scotland Economy Tracker, produced by the David Hume Institute and the Diffley Partnership, marks its second birthday, showing many Scots continue to take extreme measures to navigate turbulent economic times:
1 in 6 people (17%) report skipping meals
1 in 5 people are using ‘buy now pay later’ payment plans
2 out of 3 people (67%) are not putting the heating on to reduce costs
For many, the ongoing challenges with the cost of living are dominating their lives with:
3 in 10 (29%) Scots telling us they are losing sleep due to their personal finances
Many Scots are living with severe financial precarity:
3 in 10 people (28%) are not confident of covering a £100 emergency expense – up three percentage points since February 2023
This rises to 1 in 2 (49%) for an emergency expense of £500
The survey also shows 8 in 10 Scots perceive the economy as favouring the wealthy (78%), while 53% believe it primarily serves business interests. Only 1 in 10 (10%) believe that the economy works in their own interest.
Healthcare (48%) and cost of living (42%) remain among the top concerns for Scots.
Over three-fifths of Scots (62%) view the cost of living and inflation as a key economic priority, though this is down five percentage points from August. Poverty has become a significant concern for 32% of respondents, up three percentage points from August.
The Understanding Scotland Economy Tracker survey gathers economic attitudes and insights from more than 2,000 members of the Scottish adult population every 3 months to track changes over time.
Read more:
Press release - Two years of tracking shows Scots struggling with turbulent economic times.
Shan Saba’s blog - Avoiding the cost of living carnage.
Watch the event recording here.
