THE First Minister has hailed the importance of the wellbeing economy to the Scottish independence cause ahead of a lecture at a left-wing think tank.

Humza Yousaf will give the 10th annual Jimmy Reid lecture in Glasgow City Chambers on Thursday evening.

The foundation celebrates the life and work of Reid, a Scottish trade union activist, politician and journalist born in Govan, Glasgow, who died in August 2010.

The think tank describes itself as bringing together “different voices from across the left in Scotland to make the case for economic, environmental, political and social equity and justice in Scotland and further afield”.

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Later in life, Reid became a supporter of independence, of which Yousaf is set to nod to in his lecture. A former Labour member, Reid joined the SNP in 2004 after becoming disillusioned with his former party after Tony Blair came to power in 1997.

Ahead of the lecture, the FM hailed Reid (below) as a “trailblazer in the concept of wellbeing economy” and set out how the concept is “front and centre” of the SNP’s plans for independence.

“Jimmy Reid was a trailblazer in so many aspects of his life, and one of the most influential figures in Scotland’s 20th-century political history,” Yousaf said.

“In our own times, the wellbeing economy – one which gives the same importance to the health and happiness of citizens as to economic growth – is a concept gaining traction and influence around the world.

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“However, the fact is that Jimmy was promoting these core ideas decades ago.

"It was Jimmy who warned about alienation among people and workers in society, most forcefully in his inaugural address as Rector of the University of Glasgow more than half a century ago, where he famously declared that “a rat race is for rats.

“And it was Jimmy who said that this alienation must be tackled by putting people first – by viewing people as human beings rather than simple units of production, by giving them greater control over how their lives are run, by improving educational opportunities, and much more.”

Yousaf added that Scotland is playing a “key role” in helping develop the concept through its membership of the Wellbeing Economy Governments group.

“And we are putting it into practice at home,” he added.

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“Our ambition is to build better lives for this and future generations, with good jobs, lower poverty and higher living standards.

“Jimmy did of course become a vocal independence supporter later in his life.

“Perhaps this is indicative not of any unqualified desire for Scottish self-government, but more of a practical acceptance of which form of government would most likely lead to the fairer Scotland that Jimmy envisaged.

“That is a journey that many people in Scotland have been on in recent years.”

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The FM added that Scotland still “bears the scars” of the UK Government’s agenda of rapid deindustrialisation and privatisation in the 1980s and 1990s.

“And in recent years the draconian anti-trade union legislation passed by the UK Government serves as an anathema to everything that Jimmy Reid stood for,” he said.

“By contrast, our prospectus for the economy of an independent Scotland puts wellbeing front and centre of our plans.

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“We’ve set out how we would ensure a better, fairer working life for people – including improved access to flexible working, greater job security through strengthened workplace rights, collective bargaining and reformed models of corporate governance that evidence shows improves profitability.

“Jimmy Reid’s exceptional legacy lives on, and is now more relevant than ever.

“I am determined to lead Scotland to independence precisely so we can build the fairer, sustainable Scotland that Jimmy fought his whole life for – which is the Scotland I believe the vast majority of people want to live in.”

Yousaf’s lecture will be introduced by Mary Alexander, deputy regional secretary of Unite and Jimmy Reid Foundation charity trustee.