This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/scotland/tayside_and_central/7747193.stm

The article has changed 3 times. There is an RSS feed of changes available.

Version 1 Version 2
Taking a snapshot of the downturn Taking a snapshot of the downturn
(about 7 hours later)
By Douglas Fraser BBC Scotland Business and Economics EditorBy Douglas Fraser BBC Scotland Business and Economics Editor
Falkirk has a mixture of business and economic driversAt the heart of Scotland and one of the nation's more typical towns, BBC Scotland is turning the spotlight on Falkirk.Falkirk has a mixture of business and economic driversAt the heart of Scotland and one of the nation's more typical towns, BBC Scotland is turning the spotlight on Falkirk.
It's nothing personal against 'The Bairns' of the Forth Valley burgh.It's nothing personal against 'The Bairns' of the Forth Valley burgh.
We wanted to find out how one town is handling the economic downturn, in the wake of Alistair Darling, the Chancellor, announcing the UK Government's plans to confront it.We wanted to find out how one town is handling the economic downturn, in the wake of Alistair Darling, the Chancellor, announcing the UK Government's plans to confront it.
We wanted to go behind the bewilderingly high figures for government borrowing announced by the Treasury, and the abstract concepts of monetary policy, to find what they mean in pounds and for people.We wanted to go behind the bewilderingly high figures for government borrowing announced by the Treasury, and the abstract concepts of monetary policy, to find what they mean in pounds and for people.
We'll be checking out the high street, the confidence shoppers have, where prices are heading, the property market, local employers, and hearing from businesses both small and large.We'll be checking out the high street, the confidence shoppers have, where prices are heading, the property market, local employers, and hearing from businesses both small and large.
Going into previous recessions, it was manufacturing that was in the worst trouble Town's retailers remain confidentBus company defies the gloomSlowdown hits Falkirk home market This is a town with finance workers who commute into Edinburgh and Glasgow, and who are watching the future of Scotland's two main banks with concern.Going into previous recessions, it was manufacturing that was in the worst trouble Town's retailers remain confidentBus company defies the gloomSlowdown hits Falkirk home market This is a town with finance workers who commute into Edinburgh and Glasgow, and who are watching the future of Scotland's two main banks with concern.
It has a big Asda presence, part of the US Walmart giant, with supermarkets and two vast distribution centres near the town.It has a big Asda presence, part of the US Walmart giant, with supermarkets and two vast distribution centres near the town.
The company is picking up some business as shoppers trade down from more expensive retailers, boosting their demand from premium and organic food, while other shoppers trade down to cheaper cuts of meat.The company is picking up some business as shoppers trade down from more expensive retailers, boosting their demand from premium and organic food, while other shoppers trade down to cheaper cuts of meat.
BBC Scotland's coverage is to reflect on the difficulty facing the property sector, with land values down by at least half and an abrupt stop to building. A planned major commercial hub, the Falkirk Gateway, has been shelved.BBC Scotland's coverage is to reflect on the difficulty facing the property sector, with land values down by at least half and an abrupt stop to building. A planned major commercial hub, the Falkirk Gateway, has been shelved.
As with so much in the economy, that has several local knock-on effects, not just for construction industry jobs but to Falkirk football club. Keir Homes had to withdraw its sponsorship of the club's north stand and the team's shorts.As with so much in the economy, that has several local knock-on effects, not just for construction industry jobs but to Falkirk football club. Keir Homes had to withdraw its sponsorship of the club's north stand and the team's shorts.
Grangemouth is a major factor in the local economyAnd the club has had to introduce three-for-two ticket offers to combat falling gates - yet another sign that the downturn affects every part of the life.Grangemouth is a major factor in the local economyAnd the club has had to introduce three-for-two ticket offers to combat falling gates - yet another sign that the downturn affects every part of the life.
But it's not all bad news. There are areas of strength in the local economy.But it's not all bad news. There are areas of strength in the local economy.
Going into previous recessions, it was manufacturing that was in the worst trouble. But this time, manufacturing is one of the brightest - or least gloomy - prospects for the Scottish economy.Going into previous recessions, it was manufacturing that was in the worst trouble. But this time, manufacturing is one of the brightest - or least gloomy - prospects for the Scottish economy.
And Falkirk does manufacturing rather well. It is home to Alexander Dennis bus builders, for instance.And Falkirk does manufacturing rather well. It is home to Alexander Dennis bus builders, for instance.
The company emerged from tough times in the midst of the boom years to be well placed for the bust. Buses, after all, are an area where a big public spending splurge could boost demand, both through government and fewer people using cars.The company emerged from tough times in the midst of the boom years to be well placed for the bust. Buses, after all, are an area where a big public spending splurge could boost demand, both through government and fewer people using cars.
Mixed pictureMixed picture
There are other parts of the private sector depending on the spending power of government. The size of the public sector may be one of the cushions that could help Scotland handle this downturn.There are other parts of the private sector depending on the spending power of government. The size of the public sector may be one of the cushions that could help Scotland handle this downturn.
A big factor in the Falkirk economy is nearby Grangemouth oil refinery and petro-chemicals plant. Here, there's a very mixed picture.A big factor in the Falkirk economy is nearby Grangemouth oil refinery and petro-chemicals plant. Here, there's a very mixed picture.
The oil price plunge since July has changed the economics of Scotland's oil sector.The oil price plunge since July has changed the economics of Scotland's oil sector.
And while one company produces for a fast-growing export market for its soybean insecticide, Ineos, which operates the main refinery, has faced a particularly painful credit squeeze in recent weeks.And while one company produces for a fast-growing export market for its soybean insecticide, Ineos, which operates the main refinery, has faced a particularly painful credit squeeze in recent weeks.
To find out more, listen to Good Morning Scotland, Scotland Live, Newsdrive and Reporting Scotland (and of course, you can listen and watch again).To find out more, listen to Good Morning Scotland, Scotland Live, Newsdrive and Reporting Scotland (and of course, you can listen and watch again).
And you can read online reports from Falkirk by the BBC's reporter based in the area, Jo Perry.And you can read online reports from Falkirk by the BBC's reporter based in the area, Jo Perry.
BBC Scotland is focussing on the impact of the credit crunch on Falkirk, with special reports on television, radio and online on Tuesday.BBC Scotland is focussing on the impact of the credit crunch on Falkirk, with special reports on television, radio and online on Tuesday.


How are you handling the economic downturn where you are? Send us your comments using the form below: Your comments:
In most cases a selection of your comments will be published, displaying your name and location unless you state otherwise in the box below. As a man who is disabled and reliant on benefits I feel a little bit more could have been done for people who are getting just child tax credit and not working families tax credit. I feel it is discriminating against very low income families. I have a daughter at high school due to leave next summer.Michael Glancey, Bellshill, Scotland
name="say">
method="post" action="http://www.bbc.co.uk/cgi-bin/cgiemail/newstalk/form_all.txt"> name="email_subject" type="hidden" value="Scotland downturn - Falkirk - 7747193"> name="mailto" type="hidden" value="talkingpoint@bbc.co.uk"> name="success" type="hidden" value="http://news.bbc.co.uk/1/hi/help/7465538.stm"> Name
Falkirk business is dying a death in the current financial crisis, the only shops doing well are charity shops, cash converters and the pawn shop! Yes our town used to do well in manufacturing industries but Gordon Brown and Tony Blair managed to just about wipe out all the local factory jobs within the first 18 months of coming to power.Cath G, Scotland