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Is the Scottish economy in trouble?

While the last few weeks have been dominated by the financial market bailout it seems as though some areas of the UK are now starting to feel the pinch. There are many rumblings from Scotland that both government funding and the economy are struggling and signs that the peace deal between the SNP and the councils may well be coming to an end.

Last year the government forced the councils to freeze council tax in exchange for a £70 million extra funding package between them (not sure what the difference is as it is all tax payer's money). This year, after the price of living and inflation has ballooned, the SNP are asking the councils to do the same again but with the same £70 extra funding. To many councils, this is just not viable and we have seen cracks in the relationship between the Scottish government and the local authorities.

There are also signs that the Scottish economy is starting to struggle and the fact the SNP has gone begging to parliament for an extra £1 billion seems to confirm this view. It may have been a little late hitting Scotland but both the economy and the property market seem to be under pressure.

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