This item was published during the term of a previous administration that ended in April 2007
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FEDS 2 advances economic strategy
02/09/2004
A refreshed and refined Framework for Economic Development in Scotland ( FEDS) document was published today.
First published in June 2000, FEDS is the foundation for government thinking across a range of policy areas including education and skills, enterprise support, and improving Scotland's transport and electronic infrastructure.
FEDS 2 builds on the work of the original document and identifies four outcomes central to building a better Scotland:
- Economic Growth - with growth accelerated and sustained through greater competitiveness in the global economy
- Regional Development - with economic growth a pre-requisite for all regions to enjoy the same economic opportunities, and with regional development itself contributing to national economic prosperity
- Closing The Opportunity Gap - with economic growth a pre-requisite for all in society to enjoy the same economic opportunities, and with social development in turn contributing to national economic prosperity
- Sustainable Development - in economic, social and environmental terms
FEDS 2 was launched by First Minister Jack McConnell and Deputy First MInister and Enterprise Minister Jim Wallace at Clyde Blowers in East Kilbride.
Mr McConnell and Mr Wallace were clear that improving productivity in both the public and private sectors is the key challenge that lies ahead.
They said five priorities for action have been identified:
- basic education and skills
- research and development innovation
- entrepreneurial dynamism
- electronic and physical infrastructure
- managing public sector resources more efficiently
The First Minister said:
"Creating a strong Scottish economy is the number one priority of our devolved government.
"Without sustained, long term growth, we cannot deliver the excellent public services that our communities need and deserve.
"Without a dynamic economy we cannot offer opportunities to our young people that will help them be the very best they can be.
"That is why FEDS is so important. It says loud and clear that we are serious about delivering economic growth. It says that we will act on infrastructure and skills, that we will tackle depopulation and encourage innovation.
"Most of all, though, it says that we are determined to make Scotland a more productive place - a country with productive companies, productive people and a productive public sector.
"All of Scotland must pull together on this issue. Where companies innovate and embrace change, the public sector must follow suit. Where people learn new skills, the public sector must learn with them. When opportunities to improve and develop arise, all of Scotland must grasp them."
Deputy First Minister Jim Wallace said:
"We have been putting the principle of FEDS into practice over the last four years. Record investments in the transport network, extending broadband, promoting research and development, supporting business creation and growth - these are focused on making Scotland a connected, competitive country, better equipped to succeed in global markets. We must maintain this momentum and strive for further improvements.
"An economic framework cannot, however, be set in stone. The aims and objectives of FEDS are the right ones, but times change and new challenges arise.
"Ensuring that economic growth is sustainable is one of the big challenges. We need to find ways of getting more from less, of boosting productivity but also cutting down on waste and inefficiency.
"There are huge opportunities here to make businesses more profitable and create jobs, whilst also safeguarding the environment.
" FEDS is not just about the enterprise portfolio - it affects every area of government. I believe that in the updated framework, shaped with the support of the business community, we have identified the right priorities for Scotland's future prosperity."