Advisory Group on Economic Recovery submits proposals to transform Scotland’s economy
As the Scottish Government announces further dates for re-opening key parts of the economy, the Advisory Group that it set up to recommend measures to rebuild Scotland’s economy following Covid-19 has published its report. It has made 25 specific recommendations to bring about the “bold, radical interventions” it believes are needed to “transform Scotland’s economy”, as well as build readiness to deal with the next “cataclysmic disruption” that it says will “inevitably arrive” for current or future generations.
The measures recommended by the Advisory Group address the country’s financial and physical capital, natural capital, human capital and social capital, and many of them have specific relevance for Fife. For example, it says that economic development should be much more regionally focused and led. Digital infrastructure investment, broadband and mobile, should be enhanced and accelerated. There should be a reduction in Business Rates for tourism premises. Universities and colleges, which have a critical role in equipping people and businesses with the skills they need, should be protected from the financial impact of Covid-19.
It also recommends establishing a business-led Scottish Jobs Guarantee that offers secure employment for at least 2 years to all 16-25 year olds, with targeted funding support from the Scottish Government to set up the scheme and assist small, medium and larger firms to participate.
The Advisory Group has called on the Scottish Government to set out its response to the proposals by the end of July.
Click here for the full report.