Insights & news.

Our Managing Partner Fergus Mutch spoke to the Financial Times Weekend for this article on the politics of energy and windfall taxes. Chancellor Jeremy Hunt used his Budget last week to extend the Energy Profits Levy by a year, in spite of opposition from his Scottish colleagues. Does this now open the door for the SNP to regain the ground it has lost with industry over its presumption against new oil and gas? “There’s a genuinely ripe constituency for the picking,” Fergus said, “if a party is willing to say: ‘max out domestic production while we still need oil and gas, sustain the jobs that depend on it, and target the revenues generated on the transition’.”..

We’ve released the latest results of our new Scotland-wide poll today — this time looking at the political lay of the land, in this a General Election year. What’s clear is that Labour continues to breathe down the SNP’s neck. 36% of Scots would vote SNP in a UK General Election, placing support for the party just a nose ahead of Labour on 34%. The Conservatives and Liberal Democrats could expect to pick up 16% and 8% of the vote respectively. On seats from these numbers (based on new constituency boundaries) Prof Sir John Curtice projects 23 apiece to the SNP and Labour, 6 seats for the Tories and 5 for the Lib Dems. The SNP would enjoy...

True North has today unveiled the first tranche of results from our first major Scotland-wide issues poll of 2024. The highlights as follows: By a factor of 5 to 1 people across Scotland think that energy companies operating in the North Sea have a positive impact on the UK economy. Despite calls from some political quarters to accelerate the winding down the UK’s oil and gas production, three quarters of Scots think that the UK should meet its ongoing demand for hydrocarbons from domestic sources — with less than 10% of people who think we should rely on imports...

In an age of political surprises – most recently the return of former Prime Minister David Cameron to the cabinet – Jeremy Hunt’s Autumn Statement felt surprisingly straightforward. There was no rabbit-in-the-hat moment, no grand reveal. In fact, it was all rather Conservative, with both a small ‘c’ and a big ‘C’. This did not mean Hunt was boring – he effectively ribbed his opposite number, Rachel Reeves, and poked fun at Sir Keir Starmer – but rather just conventional. As anticipated, there were tax cuts for both individuals and business. Among the headline announcements, national insurance (NI) contributions for both employees and the self-employed were cut, saving a typical employee about £450 a year...

If the protester who covered Sir Keir Starmer in glitter at the start of his conference speech intended to throw the UK Labour leader off his stride, he failed. This was Starmer’s most assured and ambitious speech since he became party leader in 2019, with one party veteran telling me it was the best speech they had heard from a Labour leader since Tony Blair left office in 2007. It was, perhaps surprisingly a year from a General Election, a speech light on policy. Keen not to be outflanked by the Conservatives on the economy – and in keeping with his cautious approach more generally – Starmer avoided any significant spending commitments or grandiose policy pledges.

Over the autumn conference season, Prime Minister Rishi Sunak has begun to flesh out dividing lines with Sir Keir Starmer, particularly around net zero. By delaying specific targets – as well as scrapping the totemic HS2 in favour of local infrastructure investment – Sunak is gambling that he can win over voters who feel increasingly remote from Westminster politics. But by positioning himself as the change candidate, Sunak also risks reminding voters of Conservative Party failings less than a year away from a General Election....

Over 50 senior businesswomen from across the North East attended a unique breakfast event in Aberdeen to discuss how employers can better prepare for the menopause. Organised by Aileen Easton, Chief Corporate Affairs Advisor at True North Advisors, Shona Macaskill of Gary Walker Wealth Management and Ali Findlay, Chief Executive of The Lane, Flushed with Success is the first event of its kind in the North East...