Latest news with #theherald.co.uk
The Herald Scotland
3 days ago
- Business
- The Herald Scotland
A vital debate for tertiary education sector
Together we were all united by a shared commitment: ensuring that Scotland's system of tertiary education is not only sustainable, but truly serves the needs of all learners and ultimately, the success of the nation. Government, our funding agency and the university and college sectors often refer to the importance of being "learner-centred". And while as CEO of Scotland's largest college I am of course going to say our institutions are learner-centred, I can't say the same for the current funding and policy environment. While there has been acknowledgement that elements of the current funding system might not be fit for purpose, there doesn't seem to be an appetite for change – why? I believe it's over fears that it would destabilise institutions and the sector. My challenge back is that if we do nothing, perpetuate the status quo, the destabilising impacts could be way worse. We know that something needs to change, as if it doesn't then we're facing a continued period of managed decline that won't provide the benefits that our leaners deserve, or that our economy requires. And that's why the questions that were asked at this conference can't be seen in isolation. It's not enough to consider what a future funding system would need to look like for colleges and universities in Scotland for them to be sustainable. We need to answer the question that comes before that – what do we need and want from our colleges and universities going forward? Whatever the answer to that is, it's clear that colleges have a vital role to play going forward. Voices from across the Scottish economy are talking about the importance of upskilling and reskilling our workforce to meet our future needs. All of that is music to my ears, yet we have a situation where we have reduced funding and we've been told we can expect that to continue for the medium to long term. The debate is ultimately about our values – who gets to learn, who pays for it, and how we build a society that doesn't just survive but thrives. Colleges and universities are not simply institutions of learning; they are engines of opportunity, of social mobility, of innovation and growth. They equip individuals with the skills to thrive, but also enable communities and the country as a whole to flourish. So what comes next? There's no silver bullet, but by provoking this discussion and putting a spotlight on it, I'm confident that we have started the process of coming up with a long-term solution that will see colleges and universities better placed to serve Scotland's needs for years to come. Audrey Cumberford is the Principal and Chief Executive of Edinburgh College Agenda is a column for outside contributors. Contact: agenda@
The Herald Scotland
26-05-2025
- Business
- The Herald Scotland
ADS fails to stall property portfolio market
This distinction has helped insulate the portfolio sales market from the wider slowdown seen elsewhere. Investors who are acquiring at scale remain active and interested in Scotland, particularly when there is an opportunity to purchase income-generating assets in one move. In Scotland, much interest comes from London-based actors for whom the differences in yield between Scotland and their own turf have been an eye-opener in recent years. For instance, rentals in the outer circle of central London might hover around 3% to 4% on a good day while, in areas of Scotland such as Lanarkshire and the Borders, yields can float up to an attractive 15%. And there are fewer pitfalls around leaseholds and service charges. The market has also seen a shift in the type of seller coming forward. Many landlords are now re-evaluating their long-term position in light of increased regulatory and financial burdens. The combination of higher taxes, changes to energy standards, and ongoing rent control conversations has led to a rise in interest from landlords considering partial or full portfolio disposals. There's no question that some of the headline tax changes have created uncertainty, but that uncertainty hasn't translated into a collapse in demand for portfolios. On the contrary, buyer appetite remains strong for well-located, fully-let residential portfolios, particularly in areas with a history of stable yields and lower void rates. That's especially true where sellers are able to present clear financial data and compliance documentation, helping de-risk acquisitions for institutional or professional buyers. It's also worth noting that the fundamentals of residential property remain intact. Demand for rental property across Scotland continues to exceed supply, particularly in urban areas and commuter belts. This provides confidence to buyers acquiring tenanted portfolios, even as the tax and policy landscape evolves. What we're seeing now is a bifurcation in the market: individual buy-to-let acquisitions are slowing due to the increased cost of entry, while portfolio sales remain active because they operate under a different financial logic, and often a different tax structure. For professional investors, the long-term view is still compelling, particularly when opportunities arise to purchase multiple units in a single transaction with an established rental history. In short, while the residential market is experiencing a period of recalibration, the portfolio sales sector in Scotland remains dynamic. The exemption from ADS at the 6+ unit level offers a significant structural advantage, and as more landlords explore strategic exits, we are likely to see further movement and consolidation within this part of the market. Duncan Ure is Director of The Portfolio Brokers, specialists in off-market property investment Agenda is a column for outside contributors. Contact: agenda@
The Herald Scotland
29-04-2025
- Science
- The Herald Scotland
Celebrating Glasgow's dizzying array of research
Over the course of Glasgow's evolution, one of the key threads is research. Researchers working across the city have made dozens of world-changing breakthroughs. The Industrial Revolution was sparked by James Watt's improvements to the Newcomen steam engine, helping to create the world we live in now. Joseph Lister's pioneering use of antiseptics in surgery during the 19th century helped lay the path to modern medicine, while Ian Donald's development of ultrasound in the 1950s revolutionised prenatal care. Chemist Frederick Soddy's development of the concept of isotopes, which changed the way we understand atoms and helped underpin the development of nuclear energy, won him the Nobel Prize in 1921. As director of the Glasgow Science Festival since its inception, I've been playing my part in celebrating the city every year by helping academics working today provide visitors with insights into the past, present and future of research in Glasgow. This year's festival is our 19th event. Over the course of the last two decades, I've had the privilege of watching the city's researchers achieve new breakthroughs, as universities invested in their campuses to enable new developments and industries including life sciences and the space sector grew and developed in and around Glasgow. During my time as director of the festival, researchers from the University of Glasgow played a key role in the historic first detection of gravitational waves – ripples in spacetime caused by massive cosmic events like the collisions of black holes. City researchers have pioneered new methods of personalising medicine to help achieve better care for people affected by diseases like cancer and rheumatoid arthritis. They have developed cutting-edge new materials to create flexible sensors for applications including healthcare monitoring. They are working to establish the ultrafast 6G communications networks of the future, and to harness advanced photonics for use in quantum technologies, sensing, security and more. Through the University of Glasgow-led GALLANT project, they are also working to use the city as a living lab to find new ways for urban environments to adapt to the climate crisis. There's a dizzying array of other research going on across Glasgow, covering everything from AI to zoology. The city's future as a leader in science seems certain. As we complete our preparations for this year's festival in June, I'm excited to be showcasing depth and breadth of the city's research in this historic year. But, I'm just as excited for the festivals to come, where we'll be continue to bring people together to celebrate new developments as well as reflect on past achievements. Dr Deborah McNeill of the University of Glasgow is director of the Glasgow Science Festival. This year's festival runs from June 5-15 at venues across the city. Agenda is a column for outside contributors. Contact: agenda@
The Herald Scotland
24-04-2025
- Business
- The Herald Scotland
Our seafood can use US tariff volatility to create competitive edge
I was in New York for Tartan Week on the day of the initial tariff declarations and spoke with a big-hitter in our industry – a fish market servicing around 80% of the city's Michelin-star restaurants. They deal in quick turnover produce, with immediate exposure to price hikes. So, while the 90-day reprieve may signal some relief, buyers like our friends in NYC will be recovering from the immediate shockwaves, assessing the impact of blanket baseline tariffs – and looking ahead with trepidation around what may happen next. For our domestic seafood industry, the goalposts also changed quickly. We moved from a situation where the UK's minimum 10% tariff had the potential to create a real competitive advantage, as competitor countries were handed higher rates, to a more level playing field with baseline tariffs for the majority. I believe Scotland's seafood industry can utilise our competitive edge in the face of any future volatility. We've long recognised the significance of the US market for Scottish seafood producers, working hard to facilitate strong relationships with American buyers and bringing Scottish seafood to the fore at events like Seafood Expo North America in Boston. The feedback we get is consistently positive – the reputation of Scotland's seafood, in terms of world-class quality and consistency of supply, is well established. As an industry, we have also become more agile and reactive to market demands and external challenges, like creating added-value products to suit specific locations, and fostering incredibly strong ties with other key seafood markets including Asia and the Middle East, plus our neighbours in Europe, who remain our biggest export customers. Just last week, my colleague was in Japan with Scotland's Minister for Business and Scottish Enterprise's international team – where Scottish mackerel has experienced a ten-fold growth in market share in four years. Reaching out globally allows our industry to showcase its quality, develop new market opportunities, and most importantly at times like these, spread trading risks. However, we deeply value our strong trade ties with the US and are confident our neighbours across the pond value the quality Scotland's seafood industry brings to the table. We also recognise the Secretary of State for Business and Trade, his team and wider UK Government have been working to mitigate tariffs, remaining committed to a future trade deal with the US. This could put us on the front foot again. As the impact of the tariffs becomes clearer, we will listen, engage and work closely with industry and Governments here and abroad to navigate any challenges and sustain Scotland's position in the US market – standing on our reputation for quality to retain our competitive advantage in the face of any volatility. Matthew Hurst is head of trade marketing for the Americas, Seafood Scotland Agenda is a column for outside contributors. Contact: agenda@
