Robust Scottish Economy Indicator No. 47*: Demand for office space up 96%



Again, from my regular source, but one apparently invisible to BBC Scotland, Insider:

‘Record investment for Scottish offices of £342m: The firm [Savills] said the Q1 figure was 96 per cent above the historic first quarter average for the sector and was pushing prices higher.’

The demand for office space, unlike GDP or GERs, is an objective measure of health in an economy. Business people do not compete for office space at higher premiums unless they confidently expect to make enough money to pay for it. As before, here’s a reminder of other such reliable indicators:

Scottish business confidence higher than in any other region of UK

Scottish businesses more likely to be stable than those in rest of UK: News from a parallel universe unknown to our mainstream media

Hard evidence of a robust economy further undermines media doubts based on unreliable and meaningless GDP statistics

Scottish economy is thriving on innovation as patent filing runs at 4 times the UK rate

And more evidence of a strong economy: starting salaries in Scotland increase at quickest rate for more than 3 years

17% increase in number of Scots planning to start a new business as Scottish economy strengthens

Scotland’s economy continues to show signs of good health and growth

Reports of a strong Scottish economy just keep coming. Now debt decrees down 93% in the last three months

More evidence Scottish economy is strong: Demand for office space in Glasgow highest for ten years

Clear signs of a robust economy? 15% increase in Edinburgh office take-up in 2017 and Glasgow set for a ‘stellar 12 months.’

Scottish businesses continue to show signs of health with insolvencies down 23% as the Scottish economy holds strong

The Auditor General strongly, with no qualifications, commends the Scottish Government on its ‘sound’ management of the economy. The lowest under-spend since devolution.

With only 8% of the population, Scotland’s maritime sector accounts for 25% of the UK maritime sector’s (GVA) contribution to the economy and is 17.5% more productive than the UK marine oil and gas sector. Once more, too wee, too poor?

12% increase in the formation of social enterprises in Scotland over only 2 years leads to a £2 billion economic contribution to Scottish economy.

England runs massive trade deficit. Only Scotland has a viable sustainable economy, exporting more than she imports thus requiring no national debt


Footnote: 47 is mere estimate… GDP and GERS.


7 thoughts on “Robust Scottish Economy Indicator No. 47*: Demand for office space up 96%

  1. gavin May 1, 2018 / 3:29 pm

    “But ( always a but, says Jackie B with a frowny face), we should put that to the side, because we is Scots, and therefore fecked”—“over to you, Douglas.
    “Yes Jackie”. “The amendment to the addendum, states quite clearly, that, as Scots, we is fecked”. “However, there is also a codicil, to the point that, by voting for the Sainted Ruthie and her Bonnie Bairn Cub (from here on referred to as BBC), we might just be less fecked”. “See this graph I just drew”!
    “That’s interesting, Douglas. We will need to make everyone aware of that *fact*”.
    “You’re correct Jackie”. “But as we know, its the daily function of the BBC in Scotland to make people aware of the advantages of voting for the Sainted Ruthie and wee BBC”.

    Its the Correlation Conundrum. How the BEEB promotes the Union, but pretends not to.
    As the great man almost said— The BEEB’s a stage, and Jackie, Douglas et al are just actors on it.

    Liked by 1 person

    • johnrobertson834 May 1, 2018 / 4:10 pm

      Brilliant Gavin. I laughed and I can be a soorpuss at times.

      You clearly have a talent for this kind of thing. Punt it to Ch4?


      • gavin May 1, 2018 / 6:19 pm

        Ch4 ? I wait expectantly by my ‘phone for the call from Hollywood.
        Would I script a remake of The Vital Spark? Yes, of course.
        And play Para Handy? Yes, yes, ten times yes.
        My Para Handy would be a sophisticated, handsome, international man of action. Solving crimes, saving beautiful damsels from dastardly deeds.
        I would bankrupt casinos with my nonchalant Baccarat and vinge-et-une. President’s would seek my advise, ladies swoon, and The Vital Spark would be a five thousand tonne sea going yacht.
        My price would be a selfless £trillion or two. To go to the Cause of Scotland.
        Alas I dream.

        Liked by 2 people

  2. Ludo Thierry May 1, 2018 / 8:07 pm

    Gavin’s ‘new’ Para Handy sounds like a Money Launderer to me – which allows me to justifiably introduce the topic of the money laundering Bill going through Westminster today.

    There has been a big triumph that will doubtless get precious little coverage in the ‘Scottish’ media. The amendment known as The Hodge/Mitchell Amendment – but also signed by Alison Thewliss, Joanna Cherry and Ian Blackford (and many other MPs of different parties) was (reluctantly) accepted by the Tory Westminster Govt. The Minister (I think Alan Duncan) realised that the numbers weren’t stacking up as there were too many tory rebels (including Stephen Crabb – believe it or not – I’m always happy to remind people about his ‘interesting’ activities – so only fair to alert people to his worthwhile ones when I can). This amendment means that the UK Overseas Territories (Virgin Islands, Anguilla etc) must permit access to their registers of beneficial ownership.

    However, before we get carried away with this significant victory – the SNP Amendment (Thewliss Amendment) on Scottish Limited Partnerships was unsuccessful. (The clause, tabled by SNP Treasury spokesperson Alison Thewliss, would require at least one person in a Scottish Limited Partnership to use a UK bank account – which allows much closer scrutiny of the money trail).

    PLEASE NOTE the voting numbers – They are significant. By my addition the SNP clause was being supported by pretty much the combined Opposition – the Westminster Govt (Tory Govt) was able to defeat it with the votes of the Colonel’s ‘Scottish’ minions (a majority of 13 exactly):

    • Government defeats SNP amendment on Scottish Limited Partnerships
    • Sanctions and Anti-Money Laundering Bill
    • The MPs return from their vote on New Clause 19.
    • Ayes: 301
    • Noes: 314
    • Majority:13
    • Therefore, the clause which would require UK bank accounts to be associated with SLPs fails to be added to the bill.

    This vote – and this issue – should have a role to play in Indyref 2. See this info from the beeb coverage:

    What is a Scottish Limited Partnership?
    Sanctions and Anti-Money Laundering Bill

    Scottish Limited Partnerships (SLPs) were originally announced as being under review by the government as far back as January 2017.

    The investigation started as a result of claims that Scotland’s law on SLPs could be exploited as a money-laundering front for international organised crime.

    This is because the legal status of a limited liability partnership can be protected from scrutiny.

    Scottish newspaper reports have claimed that SLPs were being sold in Latvia, Ukraine and Cyprus so people could access banking in Latvia and Cyprus.

    On 29 April 2018, the Business Department announced that $80bn had been moved through SLPs from Russia in four years. It further announced that five individuals were behind thousands of SLPs registered between January 2016 and mid-May 2017.

    According to the Department for Business, Energy and Industrial Strategy:
    • SLPs are a business entity provided for in UK law
    • Limited partnerships are formed by at least two partners, one of which must be a general partner – who is liable for any debts incurred – and one limited partner – who has limited liability but cannot play a role in how the partnership is run.
    • SLPs differ to limited partnerships elsewhere in the UK as they have “legal personality”, which allows them to enter into contracts, take on debts or own property. In a limited partnership in England and Wales or Northern Ireland, this is done by the partners.

    The Westminster Govt has been ‘reviewing’ SLPs since Jan 2017 – when they are given a chance to ACT they get the amendment defeated using their ‘Scottish’ troops – The ONLY way we can genuinely clear up this particularly ‘Scottish’ element of the world Money Laundering network is with Indy.

    Can’t come soon enough for this objective commentator!

    Liked by 2 people

  3. Contrary May 2, 2018 / 7:30 am

    Ludo, you are totally and absolutely objective, of course. And that was a smooth change of subject there, I’m sure few noticed it 😀

    Gavin, a fabulous transcript from any rep Scot show! please give us more to keep us up to date on what they are saying 🙂

    What a remarkable increase in demand for office space, and that’s with companies cramming in their employees to the smallest space possible with as few resources as they can get away with (ONE kitchen sink for 200 people?! It’s chaos). So jobs must be increasing hugely with any increase in demand of office space.

    Radio Scotland is still hammering Police Scotland – 86 less police officers than ,,, planned, ‘are you concerned about this drop in numbers?’ They keep asking, and everyone, even those on to criticise, say no,,, the numbers aren’t what matters, but the radio keeps going on and on and on about it – I think they are on their fifth interviewee. So, they reported the drop in crime stats BUT, there was a terrible incident in 2015 that needs to be answered, the frontline officers are,,, less or more? (Can’t figure that one out) and there will be less in ten years or so, and relating the numbers to fires and firefighters. Lots of effort being put in to get their angle across, if only they put the same effort to actually reporting news properly.

    Don’t think radio Scotland mentioned the tragic SLP vote as outlined by Ludo above. They mentioned ‘the Scottish government will meet with the U.K. Government to discuss the effect of Brexit on devolution. And obesity and,,,,’ – so, yep, they linked what they see as a national crisis (obesity, unhealthy blah blah drink, whatever, I switched off) with the destruction of devolution. They have failed to mention that it is the whole Scottish Parliament, apart from the Tories the anti-Scottish Tory MSPs, that are rejecting westminsters mad plans to change the definition of consent. Bah. Ach well, they still report traffic and travel.


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