Douglas Fraser, Business and economy editor, Scotland

Douglas Fraser Business and economy editor, Scotland

Come here for my take on money matters from a Scottish perspective

Scotland Decides: Mandate with destiny

26 August 2014
dictionary

Picking up my dictionary and looking for the definition of the word "mandate", I found this sentence: "Political authority supposed to be given by electors to [party in] parliament".

It also gave an alternative legal definition that "someone given a mandate does so with indemnity against loss".

This word is the one that Alex Salmond has brought to the forefront of his argument for independence, notably in his clash with Alistair Darling on Monday night.

Under pressure once more on what happens if he doesn't get what he wants on a formal currency alliance with the rest of the UK (rUK), the first minister replied that he's seeking a "mandate to negotiate".

I doubt he has that legal definition in mind, though he also made it clearer than ever that if he doesn't get what he's after, he won't be taking on a share of UK government debt.

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Who speaks for Scottish business?

25 April 2014
Union and Scottish flags
The CBI's U-turn has delighted the pro-independence group Business for Scotland

The distinction between lobbying and political campaigning can be a fine line.

The Confederation of British Industry hasn't just stepped over it. In doing so, it's tripped over itself, and fallen on its face.

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The Shetland Dividend

24 April 2014
Gas terminal near house at Sullom Voe
There are a number of jobs linked to the Total and BP developments at Sullom Vie

Shetland has no intention of playing its oil card and pushing for its own independence, the council leader has told me.

Gary Robinson says that would be too greedy. It would mean far more wealth than Shetland could possibly use.

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Growth, insecurity and change

16 April 2014
grangemouth
The Grangemouth shutdown is said to have caused an 0.2% hit to Scotland's economic growth

For most of these downturn years, the Scottish economy has behaved rather like that of the UK as a whole.

As I've noted before, Scotland may be the outlier in its geography and constitution, but it's far more like the UK average than, say, London.

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Douglas added analysis to:

Sanpower buys House of Fraser in £480m deal

13 April 2014

From Mohamed al Fayed to Iceland's business buccaneers, the House of Fraser portfolio has secured its owners many of Britain's most prestigious retail locations.

And at a time of unprecedented change for the industry, that is testament to the vision of the Fraser family, and to the endurance of the department store format.

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Whisky joins the slowdown in luxury goods growth

11 April 2014
Distillery worker
Growth in Scotch whisky exports has slowed over the past two years

BenRiach whisky has strong distribution in Africa, where two of its three owners live.

In the Angolan capital, Luanda, oil-rich Chinese executives come through duty free sales at the airport, and when the senior guy picks up a £300 bottle of single malt, then others in his party are honour-bound to do the same.

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Douglas added analysis to:

Scotch whisky exports remain flat

11 April 2014

We've heard from individual distillers that the fall-off in the Chinese market has a lot to do with official government disapproval of conspicuous consumption, and a crackdown on the culture of business gifts, as they easily cross the line into corruption.

It's a challenge that has hit the premium and luxury goods market in quite a big way.

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Scottish independence: Complex energy choices, and in whose interests?

10 April 2014
Wind turbine
The emphasis of both UK and Scottish energy policy has been on developing wind and marine power

You could view the independence debate as a binary, static choice; "Yes" or "No"? But it's worth remembering that it takes place amidst immense change.

Forgive me if this seems a bit obvious. It's simply to point out that there are numerous dynamic elements which make the choice of constitutional future all the more complex.

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Shared debt and common currency

8 April 2014
Scottish notes
The NIESR report looks at debt and includes a "thought experiment" on currency

Whether it's 'Yes' or 'No', we're burdened with a whole lot of government debt.

That's at least one conclusion of a report from the National Institute for Economic and Social Research.

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The very slow slaying of Sir David's Goliath

7 April 2014
David Murray
Murray rose to prominence through his time at the helm of Rangers

It was Rangers that brought Sir David Murray fame. His fortune had more to do with metal and property.

The connection with the Ibrox club probably brings more notoriety than fame these days, given the way in which he sold it on, disastrously, to Craig Whyte.

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About Douglas

Douglas joined BBC Scotland at the moment the financial crisis struck in 2008, reporting on the meltdown at RBS and the collapse of Dunfermline Building Society.

His beat also includes close attention to the offshore oil and renewable energy sectors, and he takes a mostly professional interest in whisky.

Working in Scottish journalism since 1989, he previously worked for The Herald and The Scotsman, among other newspapers.

He has covered politics from the Holyrood parliament, as well as education, the arts and the Highlands and Islands.

He is co-author of the Political Guide to Modern Scotland.

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