SCOTLAND’S economy is being restricted by “an economic straitjacket that carries the label ‘made in London’,” according to a leading business group.
And a new initiative from Business for Scotland (BfS) called Scotianomics is aimed at sharing the understanding that Scotland does not spend too much, but grows too little under Westminster’s watch.
Founder and chief executive Gordon MacIntyre-Kemp told the organisation’s annual dinner that BfS had enlisted 25 leading economists and academics along with 20 SMEs, business owners and employers to put the Scotianomics initiative together.
He said it would initially have four lead projects – Clyde Global Port Summit, Holyrood Manifesto, Aberdeen Energy Summit and the Scotianomics conference.
MacIntyre-Kemp said the first would consider how to turn the Clyde into a globally successful economic asset for Scotland.
“Why is waterfront development so poor and piecemeal and the Clyde seen as an economic millstone around Scotland’s neck rather than an economic asset?” he asked.
“This project will lead to an event and a report covering opportunities for shipbuilding, engineering, residential and commercial property development, transportation links around the Clyde, ferries, bridges and tunnels, container shipping, oil and gas and renewables generation opportunities.”
The Holyrood manifesto would offer a “vision for Scotland” aimed at “balancing economic growth with social inclusion for all parties to reference when setting manifesto promises for the Holyrood elections”.
MacIntyre-Kemp added that the energy summit would build on Aberdeen’s dominant place in the North Sea oil and gas sector. He said: “We need a strategy to turn Aberdeen into a global centre of excellence not just for oil and gas but for renewables energy building on the world class energy expertise and start preparing and investing now for the time in generations to come when we need to move on from oil and gas.”
MacIntyre-Kemp said the short-term goal of Scotianomics was to consider how Scotland can use the powers it has to improve the country’s prosperity.
He added: “The ultimate goal of course is to win the economic argument for independence before the next referendum is even called.
“Scotianomics can be the key project in generating more powers for Scotland and in pushing support for independence through that 60 per cent support mark.
“Last year’s Yes campaign asked people for too much trust – we would have made it work – but to win over the 20 per cent who wanted to vote Yes but were afraid to, we need a more detailed, creative, forward- thinking credible vision for driving Scotland’s economic prosperity both with maximum powers and with independence.”
He said 60 per cent was the trigger, but BfS needed to engage businesses, create policies, inform and educate the people, then “first maximum devolution then independence will become a self-fulfilling prophecy”.
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