Listen
Economic Recovery Plan
03/03/2010
Actions required to accelerate recovery and improve the long term performance of Scotland's economy were set out today in a update of the Scottish Government's Economic Recovery Plan.
Finance Secretary John Swinney identified a number of priorities for the coming months that he considers key if sustainable economic growth is to be increased.
- The development of a low carbon economy to harvest Scotland's unrivalled energy resources and deliver the world's toughest emission reduction targets
- New inward investment, a scaling up of support for Scottish exports and continued focus on tourism initiatives
- Continued improvement of Scotland's planning regime and streamlined support for new domestic and inward investment
- Ensuring improved access to finance to support investment for growth
- A renewed focus on commercialisation to translate Scotland's natural and intellectual assets into future growth, through innovation, leadership and management skills
- Directing resources towards skills and training to manage the ongoing employment pressures in Scotland
Mr Swinney was speaking on a visit to Festivals Edinburgh, to find out more about the new Edinburgh Festivals Passport - a brand new travel trade product, supported by Scottish Enterprise's Tourism Innovation Fund.
The new Passport will allow domestic and international travel operators to create packages that will help increase visitors to Edinburgh's famous summer festivals and support the growth of the wider tourism industry.
He said:
"The Scottish economy has not been immune from the deepest recession in a generation, but it is resilient. That's why our updated Economic Recovery Plan is so important. It sets out the steps we are taking across the public sector to accelerate recovery and capitalise on Scotland's long term strengths.
"The primary new opportunity for Scotland lies in the development of a low carbon economy. We are making commitments on renewables and carbon capture and storage that will lead to the development of major new industries and employment.
"Our competitive exchange rate allows us to develop new sources of foreign demand and we are scaling up support for exports and attracting new investment. And, building on the success of Homecoming, my colleague Jim Mather will make an announcement later today on a further focus on tourism.
"I warmly welcome new initiatives such as the Edinburgh Festivals Passport, which show the tourism industry is innovating and looking towards the future.
"We recognise the commitment that business makes by investing in Scotland's future. In turn, the Scottish Government is acting to make Scotland the business location of choice.
"We are further improving Scotland's planning system by even better alignment of activity, efficiency of process and easing of constraints, ensuring the planning system supports economic development where appropriate. Meanwhile, our interaction with banks and the introduction of the new Scottish Investment Bank will help with the availability of appropriate levels of finance to support investment for growth.
"Scotland has long had world-leading natural and intellectual assets. The key to translating this into economic success is renewed focus on commercialisation, ensuring Scottish businesses have access to the best possible support for their innovation and the capability among Scotland's business leaders to capitalise on new commercial opportunities.
"These actions can help give Scottish businesses a competitive edge in a global economy. As we seek to emerge from recession, it is vital that nothing risks the very fragile signs of recovery. The UK Government's decision to withdraw its fiscal stimulus package runs this very risk. The Scottish Government, therefore, will continue to make the case for a further economic stimulus in the next UK Budget to help protect jobs and businesses in Scotland."