Scottish recession could be shallower than the rest of the UK, MSPs are told

Scotland may experience a slightly shallower recession than the rest of the UK due to relatively lower mortgage debt north of the border, experts have told MSPs.

But the Scottish Fiscal Commission (SFC) said Scotland and the rest of the UK are expected to follow broadly similar paths amid an economic downturn next year.

The SFC says Scotland has already entered recession this year and in 2023 real household income is expected to see its sharpest decline since records began in 1998.