Scotland's National Strategy for Economic Transformation published

This month the Scottish Government published its National Strategy for Economic Transformation. This sets out the priorities for Scotland’s economy as well as the actions needed to maximise the opportunities of the next decade to achieve our vision of a wellbeing economy.

The next ten years will be a time of incredible change and extraordinary opportunity – but success is not inevitable. The time for brave and bold action is now. The pandemic has hit our economy hard, forcing us to re-evaluate questions of economic value and national resilience and revolutionising the way in which some of our industries work.

As we recover we must map out a future role in a world where Brexit has undermined so many of the trading and collaborative relationships on which we have relied for many years and efforts must go into rebuilding, restoring and identifying new markets and relationships.

Kate Forbes MSP, Cabinet Secretary for Finance and the Economy said;

"This strategy recognises the opportunities and the challenges facing Scotland. It sets out how, over the next ten years, we aim to deliver economic growth that significantly outperforms the last decade, so that the Scottish economy is more prosperous, more productive and more internationally competitive. We will do this through focused interventions, working in collaboration with businesses and other partners, building on our strengths in sectors like energy, financial services, creative industries and life-sciences and carving out new strengths in technology, space and decarbonisation. We have identified five key transformational programmes of action that can drive improvements in Scotland's economy: stimulating entrepreneurship; opening new markets; increasing productivity; developing the skills we need for the decade ahead; and ensuring fairer and more equal economic opportunities."

As part of this work the current Scottish growth sectors will be reviewed.

Find the full strategy here.