Sir Tom Hunter's Economic Report - Backed by 27 Scottish Business Leaders
A group of 27 prominent Scottish business leaders, investors and heads of industry bodies have backed the statements made in a Hunter Foundation report published earlier this week.
The Oxford Economics document, Raising Scotland’s Economic Growth Rate, called for inclusive debate across political parties, trade unions, businesses, the third sector and the media, to determine a new economic strategy for Scotland.
It stated that radical and ambitious policy changes are required if Scotland’s economic performance is to be transformed within the next 15 years.
The report, commissioned by Sir Tom Hunter's foundation, noted that “it is not realistic to think that the current economic policies of either the UK or Scottish governments will produce a transformation of Scotland’s economic performance”
It highlighted the nation's low productivity, poor business creation rate and lack of success with scale-ups, which has meant GDP per head is a 44% of Singapore’s level, 48% of Ireland’s, 68% of Norway’s and 75% of Denmark’s.
Commenting on the report, Dr Liz Cameron, Chief Executive of the Scottish Chambers of Commerce, said:
“From every crisis, comes great opportunity. Charting the next era for Scotland’s economic prosperity, will need us all to work together with honesty and openness. We can do this by harnessing our ambition, utilising our resilience and creativity, driven by our fantastic entrepreneurial spirit. We need to have the courage to design and deliver a new, vibrant and globally prepared Scotland for us all.”
Read more here.
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