National Economic Forum
The national economic forum met in Edinburgh this Wednesday with the theme of Rebalancing the Economy: Creating a Fairer and more Prosperous Scotland. The forum brings together business and wider society representatives with government to discuss economic growth. It is opened with an address with the First Minister who outlines relevant government policy and takes questions. This is followed by a panel session and workshops chaired by relevant ministers. The event allows for a two way exchange on policy which allows government to share its ideas and gives representatives an opportunity to affect how those ideas are implemented. The theme of this meeting followed on from the business pledge, that was announced as part of the Legislative programme, and the effect of further devolution arising from the Smith Commission. I gave an overview of these announcement in All Change as the Smith Commission publishes report, in a review of the week for PubAffairs.Nicola Sturgeon led on the business pledge stating that businesses will be asked to commit themselves to good business practices, such as innovation and internationalisation, as well as a living wage, gender equality and supporting workforce engagement. In return, the companies will be offered more support from the Scottish Government and enterprise agencies. She went onto to say that the government will improve skills and maintain the most competitive business rate system across the UK as well as investing wisely and well in infrastructure and to support innovation.
Research Funding
Meanwhile in London Vince Cable, addressed the Royal Academy of Engineering saying that investment in science brings an economic return and that we should follow the EU example and count science funding as investment not spending. He lamented the relative lack of R&D spend by business but said he was in favour of great investment in Science.
Despite the tax breaks for R&D and initiatives from Scottish Enterprise and the Funding Council there has been no growth in business spend on R&D as a proportion of GDP in Scotland (or the UK).
Wind not waves
While wind power continues to take off it seems wave power has stalled. In Scottish Parliament questions on Thursday, Labour MSP Malcolm Chisholm asked the Scottish government about Pelamis Wave Power which has gone into administration.While it seems they can not help the company, the government hopes to keep some of their employees in Scotland with the creation of Wave Energy Scotland. However, they will have competition from those made redundant by Aquamarine Power. It seems neither could secure the funding required to further develop their wave power prototypes from private investors.Creative review
The Economy, Energy and Tourism Committee has announced a review of the Economic Impact of the Creative Industries. The inquiry will focus on the TV and film and video games industries. The deadline is 8 January but with Christmas preparations this doesn't give much time.
To
consider how Scotland can grow sustainable TV and film and video games
industries. - See more at:
http://www.scottish.parliament.uk/parliamentarybusiness/CurrentCommittees/84491.aspx#sthash.KdMtssg0.dpuf
To
consider how Scotland can grow sustainable TV and film and video games
industries. - See more at:
http://www.scottish.parliament.uk/parliamentarybusiness/CurrentCommittees/84491.aspx#sthash.KdMtssg0.dpuf
Economic Impact of the Creative Industries
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