Scotland's Economy

  • Scottish National Investment Bank progress

    26th September 2019 by

    Today marks another important step forward for the Scottish National Investment Bank as the legislation to support its establishment and capitalisation reaches its first stage in Parliament. The Bill being considered today lays the foundation for an institution that will be a cornerstone in Scotland’s economic architecture. One with the capability and commitment to reshape...

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  • Scottish Government response on Babcock

    12th September 2019 by

    Commenting on Babcock being selected as preferred bidder for the £1.25 billion contract to build five Type 31 frigates, Economy Secretary Derek Mackay said: “I am delighted that Babcock has been selected as preferred bidder for the £1.25 billion contract to build five Type 31 frigates and look forward to working with them to maximise...

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  • Investing in Scotland’s future skills – Business Minister Jamie Hepburn

    10th September 2019 by

    Today I was delighted to visit Whitespace in Edinburgh and learn about their innovative approach within the creative industry sector and their commitment to upskilling and training their workforce. Their investment in their employees is evident in the quality of their work and the culture of their business. This type of business is central to...

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  • This week: 5G, tidal energy and business productivity

    30th August 2019 by

    5G plan First Minister Nicola Sturgeon has unveiled ‘Forging Our Digital Future With 5G‘, a new plan that will put Scotland at the forefront of the 5G technological revolution. 5G is the next generation of mobile internet, offering faster speeds and enhanced connectivity that could transform transport, education, healthcare and agriculture among other sectors. The...

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  • This week: GERS, Denmark and equal employment opportunities

    23rd August 2019 by

    GERS Scotland’s notional deficit is falling faster than the UK’s, with onshore revenues increasing by 5.1% to reach £61.3 billion in 2018-19 as a result of continued economic growth. According to the Government Expenditure and Revenue Scotland (GERS) figures published on 21 June, Scotland benefitted from a £3 billion increase in onshore revenues in the last...

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  • Strong and inclusive labour market

    13th August 2019 by

    Commenting on the latest ONS labour market statistics update, which cover April 2019 to June 2019, Business Minister Jamie Hepburn said: “These latest results show that Scotland is seeing the benefits of our Labour Market Strategy – driving inclusive and sustainable economic growth through delivering fair and good quality work across our society. “Scotland’s employment...

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  • Update on Ferguson Marine

    12th August 2019 by

    Economy Secretary Derek Mackay said: “The Scottish Government has been working for over two years to find a resolution to the difficulties at FMEL. Throughout that time our preference has been to identify viable commercial options to keep the yard going and to finish the vessels. No such solutions have come forward. “The Scottish Government has...

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  • Internet of Things, E-Bikes and GDP

    9th August 2019 by

    Economic Growth Statistics published this week showed that the Scottish economy grew by 0.6% during the first quarter of 2019. Economy Secretary Derek Mackay said the months and years ahead were crucial as the UK’s EU Exit, and in particular a ‘no deal’ Brexit, risks damaging Scotland’s economic growth. He said:  “Growing the economy is...

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  • Internet of Things at Crookston Castle

    9th August 2019 by

    As Cabinet Secretary for Transport, Infrastructure and Connectivity, I was invited to visit historic Crookston Castle this week to learn about the Internet of Things (IoT) and see some of this exciting new technology in practice. The Internet of Things is about connecting physical devices, like sensors and actuators (i.e., devices that do things, such...

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  • Celebrating Skills for Life

    6th August 2019 by

    A skilled workforce is the backbone of a strong economy, and Scotland’s economy has gone from strength to strength, despite the shadow of uncertainty cast by Brexit. Our unemployment rate is at a record low, while growth in economic output and exports remain strong. To continue to deliver a workforce that is empowered and confident...

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