Chairman's Preface
It is my pleasure to present the Second Annual Report of Scotland's Council of Economic Advisers.
The report highlights key elements of our discussions over the past year and sets out a series of collective Council recommendations for the Scottish Government to consider. In addition to our annual recommendations, we routinely release a short summary of each of our meetings on the Scottish Government website. 1
The Council was established by the First Minister in June 2007 to advise him directly about the best way to increase sustainable economic growth in Scotland. In this role, all Council members contribute their substantial expertise and experience on a purely voluntary and advisory basis.
The present global context remains very challenging as the full consequences of the international financial crisis and worldwide recession continue to be played out. While these events have been discussed at some length, the primary focus of our public recommendations continues to be oriented toward the Scottish Government's strategic aim to boost Scotland's competitive position over the medium-term.
In our three meetings in 2009, we have considered and brought forward policy recommendations relating to the Government's 2017 targets on population and productivity. 2 The Council has also reviewed the performance of two of the key sectors identified in the Government Economic Strategy (Financial & Business Services and Food & Drink) to provide recommendations on how they can better fulfil their high-growth potential.
We have also considered the role of schools in driving economic growth and built on our work around the financing of infrastructure projects to review the Scottish Government's borrowing opportunities further.
In each of these areas, the Council can offer a number of key recommendations to the First Minister and his Government. In the coming year, the Council will continue to explore ways to give the Scottish economy a sharper competitive edge and potential policies to boost sustainable economic growth.
Finally, I would like to record my sincere thanks to all Council members for their strong personal commitment to our work in considering the strategic issues surrounding Scotland's competitive position and for their insightful advice.
Sir George Mathewson
Chairman