Kate Forbes targets economy that ‘significantly outperforms’ last decade

A new economic strategy for Scotland will aim to deliver growth that over the next 10 years “significantly outperforms the last decade”.

Finance Secretary Kate Forbes said while the Scottish Government could do more if it had more powers, the new blueprint to be unveiled this week will take “decisive steps towards the creation of new, well-paid, green jobs”.

The Scottish Government’s upcoming national strategy for economic transformation will also “drive an economic recovery” that will help the country meet its climate change targets, she added.

The plan, to be launched on Tuesday, follows two years of the Covid pandemic, which saw many businesses hit hard by the impact of restrictions put in place to try to curb the spread of the virus.

Meanwhile, the Scottish Government is seeking to move away from reliance on the oil and gas sector and instead switch to more environmentally friendly forms of power.

Speaking ahead of the launch Ms Forbes said ministers “want the Scotland of tomorrow to be a more resilient and more entrepreneurial economy – in which everybody can share in our success”.

She stated: “From the television to the telephone, penicillin to steam engines, Scotland has a rich history of innovation and invention.

“In the next decade, Scotland faces a choice to either lead or to lag behind other successful economies all whilst we recover from Covid, deliver net zero, tackle structural inequalities and grow our economy. We choose to lead.”

The Finance and Economy Secretary said: “Over the next 10 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.

“To do that, we must be a country in which the public, private and third sectors respect each other’s strengths, draw on each other’s talents and work together to create and sustain an economy that works for all.

“This strategy is about delivering the best economic performance possible for Scotland within the current constitutional constraints.

“There is much more we would do with greater powers, however this strategy takes decisive steps towards the creation of new, well-paid, green jobs and will drive an economic recovery that will meet our climate and nature targets while ensuring we maximise the benefits of a just transition.

“As we look beyond the pandemic we must be ready to seize the economic opportunities that come with achieving net-zero and becoming a fairer country,” she added.