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Scottish salmon farming is now adding £1 billion a year to Scotland’s economy, according to a major new independent study that underscores the sector’s growing importance to rural communities, the national supply chain and Scotland’s global reputation for high-quality food production.
The report, produced by BiGGAR Economics for Salmon Scotland, reveals that the industry’s overall economic contribution has risen by 25 per cent in four years, reflecting both sustained domestic demand and record-breaking international exports. It describes salmon farming as one of Scotland’s most significant rural economic drivers, supporting 11,000 jobs nationwide, including around 2,500 people directly employed in farming across the west coast and islands.
Average salaries in the sector are now around £44,500, significantly above the Scottish average, and the industry generated at least £37 million in tax last year before wider supply chain contributions are taken into account. Analysts say salmon farming continues to play a vital role in some of the country’s most economically fragile communities, underpinning year-round employment and attracting investment into remote coastal areas.
Deputy First Minister Kate Forbes, who met sector leaders in Edinburgh this week, said the findings highlight not just a major economic contribution but the “resilience, innovation and commitment” of those working in the industry. She praised the sector for paying above-average wages, strengthening supply chains and supporting rural communities, adding that the Scottish Government will “continue to take bold steps” to ensure it remains a national success story.
The report shows that salmon farming contributed £231.2 million in Gross Value Added directly in 2024, while a further £589.9 million was generated through businesses supplying the sector. Additional impact came from sustained investment activity and spending by employees in local communities, bringing the total economic contribution to £953 million—up sharply from £766 million in 2021. When broader impact measures are included, the industry’s annual value rises to more than £1 billion.
Tavish Scott, chief executive of Salmon Scotland, said the industry’s continued growth reflects the hard work of farmers across Scotland’s west coast and islands, where salmon farming remains a central pillar of local economies. He said farm-raised salmon is “the economic backbone of some of Scotland’s most isolated areas”, supporting thousands of well-paid jobs and a network of Scottish businesses that rely on its success. Scott added that the sector’s high environmental and welfare standards, combined with strong global demand, have helped to position Scottish salmon as one of the world’s leading premium food products.
The economic impact is widely felt across Scotland’s five salmon-producing regions. The Highlands benefit the most, with more than £300 million generated locally, followed by Argyll and Bute, Shetland, the Western Isles, and Orkney, each of which receives significant economic uplift from salmon-related jobs, investment and supply chain activity.
Nikki Keddie, director at BiGGAR Economics, said the report shows how salmon farming provides stability and opportunity in communities that may otherwise struggle to sustain long-term employment. She described the sector as a “vital economic anchor” for rural Scotland, noting that productivity levels in salmon farming outpace national averages and play a major role in supporting Scotland’s coastal resilience.
With rising demand, expanding export markets and continued investment in innovation, the Scottish salmon sector looks set to remain a cornerstone of the national economy, supporting jobs, strengthening supply chains and sustaining communities across Scotland’s west coast and islands.
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Scottish salmon delivers £1bn boost to economy as new report reveals soaring impact

A major new report from Sport England and 4Global has strengthened calls for the Government to increase support for gyms, swimming pools and public leisure centres in the forthcoming Autumn Budget, warning that the sector is delivering billions in social value despite operating under severe financial pressure.
The annual Moving Communities report highlights the critical role these facilities play in improving national health and wellbeing, with public leisure centres contributing an estimated £3.63 billion in social value between April 2024 and March 2025. This figure reflects both the personal wellbeing benefits experienced by users and significant savings to public services, particularly the NHS.
According to the report, no other part of the sport, recreation and physical activity sector delivers impact on this scale. Participation in gym activities rose 13% year on year, with notable increases among women, under-16s, over-65s, and people living in England’s most deprived communities.
Women now make up 53% of all users, and gym activity among female participants increased 12%. Among under-16s, participation surged 21%, while visits by over-65s rose 19%. Engagement in the most deprived areas grew 7%, with these communities now accounting for 16% of national visits.
These trends point to a sector helping to narrow some of England’s most persistent health inequalities. For many families, leisure centres remain the only accessible and affordable spaces for exercise, community activities and supervised swimming.
But ukactive said today’s findings also expose a troubling reality: many of these vital facilities are operating with fragile finances. Rising energy bills, higher staffing costs and ageing buildings have left half of all facilities running at break-even, placing services at risk just as demand accelerates.
In a statement responding to the report, ukactive said the message to Government is “unmistakeable”: “If you really want to address issues of economic growth and take pressure off the NHS, the physical activity sector needs to be one of your primary partners.”
The organisation warned that any regressive measures in the upcoming Budget could severely damage the sector’s ability to grow and serve communities, worsening health inequalities at a time when the country urgently needs to improve population health.
The report also details the measurable health benefits generated by increased physical activity: £51.4 million in cost savings from reduced depression and £10.7 million from reductions in back pain alone.
Gym, pool and leisure operators say these savings far outweigh the Government support required to keep facilities open and affordable. They argue that investing in public leisure would act as a direct lever for economic growth, NHS relief and improved workforce productivity.
With the Budget now weeks away, industry leaders are calling on ministers to back the sector rather than burden it with further financial strain. As ukactive put it: “Now is the time to fully support gyms, swimming pools and leisure centres to deliver the economic prosperity and health improvements this nation urgently requires.”
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Moving communities report urges government to back gyms and leisure centres ahead of autumn budget

The global wearables market is entering a new era, with smart glasses emerging as the standout growth category as traditional wrist-worn devices reach a more mature phase.
According to Futuresource Consulting’s Global Wearables Market Outlook 2025, innovation is accelerating beyond the wrist, signalling a shift in how consumers interact with connected technologies.
While global shipments of wrist-worn devices are still expected to grow—rising 4.8% in 2025 to nearly 210 million units, with retail value up 5.2%—the real dynamism lies in the next generation of form factors.
“The story in 2025 is one of nuanced evolution, not frenetic explosion,” says Nikolaos Tzoumerkas, Lead Analyst at Futuresource. “Smartwatches and sports watches are still part of the equation, but smart glasses are redefining what a wearable can be.”
Futuresource predicts smart glasses will ship 2.6 million units in 2025, up from 1.6 million this year—making them one of the fastest-growing segments in consumer tech. Growth is being driven by leading brands such as Meta, whose partnerships with Ray-Ban and Oakley blend fashion credentials with next-generation functionality.
Modern smart glasses now integrate high-quality cameras, AI assistants, connectivity tools and hands-free interaction into lightweight frames designed to look like everyday eyewear. This shift—from gadget to fashion-forward accessory—is helping to normalise the technology among mainstream consumers.
“Fashion collaborations and ecosystem integrations have absolutely transformed public perception,” says Tzoumerkas. “Smart glasses are no longer seen as niche tech. They’re lifestyle products, and consumers want to be seen wearing them.”
Smartwatches continue to dominate the wearables market, accounting for 94 million units in 2024 and maintaining steady annual growth of around 8%. Apple remains the global leader with a 48% market share, boosted by strong demand for the Series 11 and Ultra 3, as well as new FDA-cleared health features, including hypertension detection.
Sports watches are undergoing their own evolution, powered by AI-driven adaptive coaching that uses biometric data to personalise training and recovery recommendations. While Chinese brands such as Huawei, Xiaomi and Amazfit continue expanding in developing markets, performance specialists Garmin, Suunto and Polar maintain their foothold in Western countries.
One of the biggest shifts highlighted in the report is the convergence of smartwatches, glasses and mobile devices into a seamlessly connected ecosystem. On-device AI is becoming central to the experience, improving speed, privacy and energy efficiency while enabling more meaningful real-time insights.
“Wearables are now the digital portal to a much larger connected environment,” says Tzoumerkas. “With smart glasses gaining ground and AI moving to the edge, the next wave of growth will be defined by connected intelligence, effortless integration and elegant design.”
As consumers increasingly expect devices to blend functionality, aesthetics and cross-platform compatibility, smart glasses look set to become a defining product category of the next decade—ushering in a new chapter for connected technology.
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Smart glasses drive next wave of growth as wearables market shifts beyond the wrist

The UK is still grappling with what economists call the “productivity puzzle.” Since the 2008 global financial crisis, growth in output per worker has been sluggish when compared with international competitors such as the United States, Germany and France. Weak productivity holds back wages, dampens economic growth and limits our ability to fund vital public services.
The government has rightly recognised the need to kickstart growth. The Industrial Strategy identified eight key sectors with the highest potential, from clean energy to life sciences. More recently, the creation of Skills England signals a renewed national effort to boost technical and sector-specific expertise. These moves are essential, but they are only part of the puzzle.
The case for upskilling
Jules Bennington – Senior Policy Officer, Chartered Management Institute, explains that a dynamic economy depends on a workforce that can adapt, learn and innovate. Yet employer investment in training has struggled, falling by 28% since 2005, even as demand for employability skills continues to rise. Without decisive action to close skills gaps, the UK risks missing its growth ambitions.
Crucially, the challenge is not only about technical know-how. The National Foundation for Educational Research (NFER) has shown that essential employment skills such as collaboration, communication, organising, problem solving and decision making are fundamental to future success. These are the very capabilities that enable technical knowledge to be applied most effectively, unlocking productivity gains across every sector.
Core skills: The foundation of good management
These essential skills mirror the attributes of effective managers and leaders. They are embedded in the Chartered Management Institute (CMI) Professional Standard for Management and Leadership, which sets out the behaviours, skills and competencies required to lead teams, drive innovation and manage change.
Strong management is not a “nice to have.” CMI analysis shows there are 8.4 million managers in the UK – around one in four workers. Yet most have never been trained. Our Better Managers research found that:

82 per cent were promoted without formal training, becoming “accidental managers.”
Half hold no management or leadership qualification.
One in three managers – including a quarter of senior leaders – have never received any formal management training.

International comparisons underscore the cost of this gap. Analysis shows that the UK lags behind countries such as the US, Germany and Sweden in management practices – a deficit linked to lower productivity.
Why management skills matter for everyone
Management and leadership skills are consistently identified as high-demand skills in Skills England’s assessment of where the need lies across priority sectors. The benefits of these skills extend across the economy – from advanced manufacturing to health and social care.
But good management is not just about hitting growth targets; it is also about creating good work. CMI research shows that having a supportive manager is the most influential factor in employees feeling valued and included. Effective managers are key to workforce development, staff retention, the adoption of new technologies such as AI, and the coordination of complex supply chains.
Wherever people work together, essential employment skills and good management are the glue that turns technical knowledge into tangible results.
Shared responsibility for action
Employers have a vital role to play, but they cannot close the gap alone. The steep fall in employer-funded training highlights the need for strong public policy. At the same time, businesses are calling out for higher-level skills, especially in management and leadership.
That is why CMI is urging the government to keep core transferable skills front and centre as the Apprenticeship Levy evolves into a broader Growth and Skills Levy. We need a system that allows employers to access high-quality, modular, accredited training – flexible enough to meet immediate business needs and rigorous enough to raise national standards.
A skills agenda for growth
Technical expertise will always be critical to economic progress. But without the essential employability and management skills identified by NFER and embedded in CMI’s Professional Standard, technical skills alone cannot deliver the productivity leap the UK needs.
If we want an economy that is globally competitive, resilient and inclusive, we must invest not only in people’s technical knowledge, but in how they work together to apply that knowledge. It is now time to ensure that core skills are recognised as the bedrock of productivity and good work.
NFER’s final report in the Skills Imperative 2035 programme will be published on Tuesday 25 November.
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Building core skills for a productive, high-growth economy

The government has agreed to reconsider its decision not to compensate millions of women affected by state pension age rises, after new evidence emerged during ongoing legal proceedings.
Work and Pensions Secretary Pat McFadden told MPs that ministers will withdraw from a forthcoming judicial review brought by the Women Against State Pension Inequality (Waspi) campaign, while the newly uncovered material is examined.
The decision marks a significant shift in the long-running dispute over how women born in the 1950s were informed of changes to the state pension age. Campaigners argue they were not given sufficient notice of the increases that brought their retirement age in line with men, leaving many financially unprepared.
McFadden said the new evidence relates to previously unseen Department for Work and Pensions (DWP) documents from 2007, which had not been made available to his predecessor Liz Kendall when she ruled out compensation last December.
“As part of the legal proceedings challenging the government’s decision, evidence has been cited about research findings from a 2007 report,” McFadden told the Commons. “In light of this, and in the interest of fairness and transparency, I have concluded that the government should now consider this evidence. This means we will retake the decision made last December.”
He added that had Kendall been provided with the report, she would have “considered it alongside all other relevant evidence and material.”
In March 2024, the Parliamentary and Health Service Ombudsman recommended that affected women should receive compensation of up to £2,950 each, which could have cost the Treasury around £10.5 billion. Kendall rejected that advice at the time, saying most people had been aware of the state pension changes.
McFadden, who was appointed Work and Pensions Secretary earlier this year, stressed that the new review “should not be taken as an indication” that compensation will necessarily be awarded. However, he said the government wanted to ensure that all relevant evidence was considered before any final decision is made.
Waspi campaigners, who have spent nearly a decade fighting for redress, welcomed the announcement but urged ministers to act swiftly.
Angela Madden, chair of the Waspi campaign, said: “For 10 years we have been fighting for compensation. The Government has fought us tooth and nail every step of the way. The only correct thing to do is to immediately compensate the 3.6 million Waspi women who have already waited too long for justice.”
The issue stems from the 1995 Pensions Act, which set out plans to raise the state pension age for women from 60 to 65, and later from the 2011 coalition government legislation that pushed the age to 66 for both men and women. Campaigners say communication failures by the DWP meant many women were unaware of the changes until they were close to retirement.
It is estimated that around 300,000 women affected by the policy have died since compensation was first demanded in 2015.
While McFadden has hinted at the possibility of modest welfare reforms to help balance the public finances, his decision to revisit the Waspi ruling signals a more conciliatory approach from the new Labour government — one that may seek to rebuild trust after years of contention.
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Government to review Waspi women compensation decision after new evidence emerges

Energy giant SSE has announced a landmark £33 billion investment programme to modernise the UK’s electricity infrastructure, describing it as a “once-in-a-generation opportunity” to transform how power is generated, transmitted and distributed across the country.
The Perth-based company said the five-year plan, running to 2029–30, will see it raise £2 billion from investors through a share placing and generate a further £2 billion from targeted asset sales. The move is designed to fund an ambitious expansion of its electricity networks and renewable energy capacity.
Shares in the FTSE 100 group surged almost 12 per cent after new chief executive Martin Pibworth unveiled the plans, bringing clarity to how the firm intends to finance its capital commitments and marking a bold start to his leadership.
Under the new strategy, SSE’s annual investment will treble to £33 billion, with about 80 per cent channelled into regulated electricity networks, which will now form the backbone of the business. The company said it would commit £22 billion to upgrading high-voltage transmission cables across the UK — infrastructure described as “critical to connecting renewables and removing existing constraints within the electricity grid.”
A further £5 billion will be spent on strengthening lower-voltage regional distribution networks in Scotland and southern England. The remaining 20 per cent of the budget will be split between £4 billion in renewables — primarily wind and hydro power — and £2 billion in flexible gas generation and other business areas.
Pibworth said the strategy was designed to help deliver a cleaner, more secure and more affordable energy system for the UK, while also stimulating economic growth.
“Our plans are built on a once-in-a-generation opportunity to upgrade the UK electricity network,” he said. “The accelerated investment is underpinned by secure UK government regulatory frameworks and will unlock much-needed growth across the wider economy, supporting thousands of jobs over the course of the plan.”
The company said over half of the funding would come from operational cash flow, with a third financed through borrowing, leaving only around 10 per cent to be covered by equity raising and asset sales. Analysts welcomed the clarity, noting that the scale of the fundraising was smaller than many had anticipated.
Ahmed Farman, an analyst at Jefferies, said: “The new plan brings clarity on the balance sheet and the company’s growth outlook. The £2 billion equity raise is towards the lower end of the scenarios previously discussed.”
SSE operates transmission cables in the north of Scotland and distribution networks in both Scotland and central southern England. It also owns and manages a portfolio of wind farms, hydroelectric stations and gas-fired power plants.
The announcement coincided with the release of SSE’s half-year results, which showed adjusted pre-tax profits down 28 per cent to £521.5 million for the six months to the end of September. The company cited weaker performance from its renewables arm, reflecting “less favourable weather and lower hedged prices,” with hydro output reduced after an unusually dry summer in Scotland.
Despite the short-term dip in profits, SSE’s multibillion-pound investment marks one of the most significant commitments yet to upgrading Britain’s electricity networks — a move analysts say will be essential to achieving national net zero targets and unlocking future renewable capacity.
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SSE unveils £33bn plan to upgrade UK electricity networks with £2bn investor backing

More than six million small and medium-sized enterprises (SMEs) across the globe are calling on world leaders to take urgent and coordinated action to support business-led climate progress, warning that the path to net zero will stall without their inclusion.
In an open letter released ahead of the UN Climate Change Conference (COP30) in Brazil, the SME Climate Hub and its global partners urged governments to adopt a unified set of policies that unlock green finance, simplify climate guidance, and create meaningful incentives for smaller firms to take action.
SMEs account for 90 per cent of global businesses and generate over half of the world’s GDP, yet they are among the least supported when it comes to decarbonisation. Despite their crucial role in local economies and international supply chains, most small businesses still face significant barriers to climate action. A recent SME Climate Hub survey found that 80 per cent of respondents reported either minimal government support or no awareness of existing climate-related incentives.
“The global climate transition cannot succeed if SMEs are left behind,” said Pamela Jouven, Director of the SME Climate Hub. “Governments have the power to turn climate risk into business opportunity. We’re urging Heads of Delegations at COP30 to adopt a practical policy framework that empowers SMEs and recognises them as vital contributors to the net zero transition.”
The open letter calls for governments to strengthen national frameworks so that SMEs are formally recognised within climate and biodiversity strategies and included in consultation processes. It also advocates for the integration of small firms into public procurement systems, ensuring they can compete fairly for green contracts and become part of sustainable value chains.
Jouven and her fellow signatories argue that governments must do more to demonstrate the business case for decarbonisation, including funding research that quantifies the commercial benefits of net zero strategies — from energy efficiency savings and improved resilience to risk, to access to new markets and customers.
Another key priority is clarity. Many SMEs are held back not by reluctance, but by confusion. The letter urges policymakers to develop consistent, centralised guidance to help small firms navigate reporting requirements and access credible resources for climate adaptation and emissions reduction.
Above all, the group stresses that progress depends on unlocking finance. It calls on financial institutions and governments to design funding models that meet the needs of smaller enterprises, including tailored green loans, grants, tax incentives and government-backed guarantees.
“Small businesses are the backbone of economies and global supply chains,” Jouven added. “Empowering them to take climate action will accelerate the delivery of national net zero targets and build resilience across the global economy.”
The letter’s release comes as climate financing is expected to dominate the agenda at COP30 in Belém, Brazil. With SMEs employing two billion people worldwide, the SME Climate Hub warns that failing to equip them for the green transition would not only jeopardise climate goals but risk leaving vast sections of the economy unprepared for the low-carbon future.
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Six million small firms urge COP leaders to unlock finance and incentives for green growth

Andrew Mountbatten-Windsor is shutting down some of his final remaining business ventures, including Pitch@Palace Global Ltd, once seen as a potential source of private income after the King withdrew financial support.
Pitch@Palace began as a Dragon’s Den-style initiative allowing entrepreneurs to pitch start-up ideas to investors, backed by the then Duke of York. It attracted global attention and corporate sponsors before collapsing under the weight of scandal following Mountbatten-Windsor’s association with convicted sex offender Jeffrey Epstein.
A document filed with Companies House on Tuesday confirmed that Pitch@Palace Global has applied to be struck off the register and dissolved. The application, signed by the firm’s sole director, accountant Arthur Lancaster, declared that there were no outstanding debts or other obstacles to closure.
Lancaster, who has long acted as a business associate of Doug Barrowman and Baroness Michelle Mone — both embroiled in a high-profile dispute over a pandemic PPE deal — is understood to hold the company’s shares on behalf of Mountbatten-Windsor. The former prince remains listed as a person with significant control, under his previous title.
Pitch@Palace’s UK arm was wound up in 2021 after the Newsnight interview that prompted Mountbatten-Windsor’s withdrawal from royal duties and the removal of his official titles. However, its international division, Pitch@Palace Global, had remained open until now.
The company’s most recent accounts show cash reserves dwindling from £220,990 to just £10,965 by the end of March, suggesting that most of the remaining funds have been withdrawn in recent years.
The venture had continued to generate controversy abroad. The Chinese arm’s founder, Yang Tengbo, was accused of espionage — allegations he denied — while a Dutch accelerator, Startup Bootcamp, briefly explored a deal to acquire the business in 2024, citing “immense value” in its international network. That agreement later fell through.
On the same day, a second company linked to Mountbatten-Windsor — Innovate Global Ltd — also filed for closure. Lancaster is again listed as the sole director. The firm, which has no employees and minimal assets, was reportedly intended to serve as a reboot of Pitch@Palace’s international operations under a new brand.
The closures further mark Mountbatten-Windsor’s continued retreat from public and commercial life. Once billed as a champion for innovation and entrepreneurship and the self styled royal entrepreneur-in-residence at the palace , his flagship initiative has now quietly come to an end.
It was also confirmed this week that his surname will formally be rendered with a hyphen — Mountbatten-Windsor — aligning with the spelling first approved by the Privy Council in 1960.
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Andrew Mountbatten-Windsor winds up Pitch@Palace and remaining business interests

After a decade of rapid growth, Britain’s employee ownership movement is hitting the brakes. New tax rules introduced in last year’s Budget have curbed the number of business owners selling to their staff, following a clampdown on offshore trusts used to sidestep capital gains tax (CGT).
The Employee Ownership Association (EOA) reports that company sales to employee ownership trusts (EOTs) fell from 550 in 2024 to just 200 in the first eight months of this year. The total is now expected to reach around 350 for 2025 — a drop of more than a third.
Fresh figures from HM Revenue & Customs, obtained by accountancy firm Price Bailey, back up the trend. Only 104 EOTs were cleared by HMRC in the three months to June, the lowest level since early 2022.
Experts say the decline follows reforms designed to close tax loopholes exploited by some sellers. Previously, company owners could transfer their businesses to offshore EOTs, whose trustees would quickly resell the company to another buyer, allowing the original owners to pocket the proceeds tax-free.
The government’s new rules now ban offshore structures and introduce a tougher four-year “clawback” clause, meaning sellers could lose their CGT exemption if the company is sold on within four full tax years — up from just one.
James de le Vingne, chief executive of the EOA, said the slowdown “serves as a reminder that despite a decade of learning, education and insights driving growth, greater alignment of employee ownership succession with business support and regional growth plans is still needed to unlock the full opportunity of people-powered growth.”
EOTs were first introduced in 2014 to promote the John Lewis model of shared ownership, offering 100 per cent CGT relief to sellers who pass control to their employees. Since then, the number of such trusts has soared from a few hundred to around 2,500, including well-known firms such as The Entertainer, Go Ape and Richer Sounds.
Robert Postlethwaite, founder of Postlethwaite Solicitors and a leading expert on employee ownership, said that while the new rules had cooled activity, the long-term picture remained positive.
“Some owners used EOTs purely as a tax-efficient exit — that’s no longer the case,” he said. “Those now pursuing employee ownership tend to be genuinely committed to it as part of their company’s future, rather than simply looking for a tax-free escape route.”
He expects the pace to pick up again as more business owners approach retirement: “There are so many companies needing a succession solution, and EOTs will remain an important option.”
Simon Blake, a partner at Price Bailey, described the latest reforms as “the most consequential change to the EOT regime since its introduction,” adding that the four-year rule “fundamentally alters the risk calculus — transforming what was once a frictionless exit into a compliance marathon.”
Despite the slowdown in conversions, the EOA has continued to expand, adding 210 new members in the year to September. The professional, scientific and technical sectors accounted for the largest share of new entrants, followed by IT, manufacturing and construction — evidence that, while the tax breaks may be less generous, interest in shared ownership remains strong.
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Employee ownership boom cools as tax clampdown slows sales to staff