Growing the economy

We aim to make Scotland a more successful country, with opportunities for all, through growing our economy in a sustainable (steady and long-lasting) way.

Our Economic Strategy sets out our approach for achieving this, based around increasing competitiveness and tackling inequality.

Actions

Our Economic Strategy highlights four key priorities for supporting sustainable economic growth in Scotland:

• investing in people and infrastructure to safeguard Scotland's future
• fostering a culture of innovation, entrepreneurship and research and development
• stimulating inclusive growth and creating opportunity through a fair and inclusive jobs market
• promoting Scotland's international trade, investment, influence and networks

Our delivery of the Economic Strategy is supported by:

• the Scottish National Investment Bank, which will provide finance to businesses and infrastructure projects
• the Enterprise and Skills Review, which is improving support for students, workers and businesses
• consulting on the economy with partners and stakeholders to determine how best to achieve our aims
• taking advice from the Council of Economic Advisers on how to make Scotland's economy more competitive
• producing economic statistics and publications to provide detailed information on Scotland’s economy and evidence for economic policy
• the National Performance Framework and Scotland Performs, whose targets and indicators measure and report progress towards improving Scotland’s performance
• the £150 million Building Scotland Fund: a precursor to the Scotttish National Investment Bank
• the launch of a South of Scotland Enterprise Agency to address the economic challenges of the area
• the network of Well-being Economy Governments (WEGo), established by the governments of Scotland, Iceland, and New Zealand in 2018 to engage, share and promote innovation in policy making to achieve greater wellbeing through their economic approach

Background

Since publishing our first Economic Strategy in 2007, our central purpose has been to create a more successful country, with opportunities for all of Scotland to flourish, through increasing sustainable economic growth.

Achieving this has remained the focus of each subsequent economic strategy.

The Economic Strategy is complemented by:

• the tri-annual State of the Economy report in which the Chief Economist provides a picture of the Scottish economy in the context of the UK and international economies
• the annual Programme for Government, which sets out our plan for policy delivery and legislation over the next year

Contact

Email: Office of the Chief Economic Adviser, OCEABusiness@gov.scot

Post:
Office of the Chief Economic Adviser
St Andrews House
Regent Road
Edinburgh
EH1 3DG