Sturgeon Calls on Scottish Businesses to Boost Jobs by Improving Productivity
October 30, 2015
Scotland’s first minister Nicola Sturgeon has called on businesses around the country to improve their productivity in order to boost the number of jobs on offer throughout the economy.
According to Sturgeon, Scotland is well behind the UK as a whole and the rest of Europe in terms of how productively it generates goods and provides services.
“Although we have come an awful long way towards closing the long-standing productivity gap between Scotland and the rest of the UK, we still lag a long way behind many of our key European competitors,” she told attendees at a recent Business in Parliament conference in Edinburgh.
“That really matters, because we know if we were to increase Scotland’s total productivity by just 0.1 per cent every year we would boost our GDP by 1.3 per cent,” she said.
“To put that into figures that make more sense for people, that means we would boost employment after 10 years by 11,000 and tax revenue by £400 million.”
The first minister singled out Scotland’s troubled oil and gas sector as one in which there are particularly “deep-seated challenges” in relation to productivity.
Sturgeon said that the Scottish government will be aiming to improve productivity rates within all parts of the national economy in years to come by focussing on “supporting innovation, internationalisation, investment in infrastructure and skills and promoting inclusive growth”.
Addressing an audience made up largely of business leaders, she said: “We are seeking in everything we do to support you to create a more competitive, more innovative and more highly-skilled economy where growth is stronger and is more sustainable because our approach to inclusive growth will share the benefits of that much more widely.”
Earlier this month, a parliamentary committee in Dundee was told by the video games entrepreneur Chris Van Der Kuyl that, with the right support, his industry could develop so strongly in Scotland in the coming decades as to “make North Sea Oil look like a drop in the ocean”.
If you are finding it difficult to cope with debts and other personal finance problems then Scotland Debt Solutions can help. Call one of our experts today to find out how.
When taking out a joint loan, there are many things you need to consider. Signing up to a joint credit agreement is a huge commitment and it’s important to ensure you have all the facts before signing on the dotted line. While no one wants to think about a relationship breaking down, the truth is […]
If you’re looking to save some money it’s a good idea to make a detailed budget that lets you see where your cash is currently being spent, and offers an overall view of your finances. You’ll need to collect together your income and expenditure details, including annual costs such as insurance, car expenses, birthdays and […]
A trust deed is a common debt repayment programme based around a voluntary arrangement made between you, your creditors and a qualified independent trustee who takes control of your debt repayments for a typical period of four years. If you’re having difficulty paying your debts and have assets or a regular income, you may qualify […]
If you have built up debt from gambling, you may be able to write off part or all of the debt via a formal Scottish insolvency route. Not all insolvency solutions allow debts to be written off, but you may be eligible for a trust deed if you meet certain criteria, with sequestration also being a possibility […]
Her Majesty’s Revenues and Customs (HMRC) is one of the biggest creditors in Scotland, and indeed across the rest of the UK. Millions of people make payments to the government through HMRC in the form of income taxes, National Insurance and VAT every year. For the majority of people in employment, this is done automatically […]
Council tax is a charge levied on residential property and payable to the local council. While some properties are exempt from paying council tax, most households must factor this bill into their monthly budget. Households will be given a yearly charge which can then be broken down into a series of monthly instalments throughout the […]