09 Mar 2022
By Stuart Patrick, Chief Executive of Glasgow Chamber of Commerce
The fanfares for the Scottish Government’s National Strategy for Economic Transformation (NSET) have been rather muted. Sir Tom Hunter’s comment that the document is a ‘long wish list with no magic wand to deliver it’ resonates with a mood I have been picking up in my conversations with Chamber members as we discuss our city’s future. There is an appetite to move on from discussion and debate and get into practical delivery. Cabinet Secretary for Finance and Economy, Kate Forbes made the point that it was time to be ‘bold, ruthless and laser-focused’. These principles will be warmly welcomed if they lead to visible and speedy action and that may need a better understanding of what it takes to get projects delivered on the ground.
It could be argued that the strategy gathers under the one cover – an already familiar collection of previous announcements. Mark Logan’s report on the technology innovation eco-system is there and so too is The Trading Nation report on growing Scottish export performance. The more recent draft review on Scotland’s transport priorities makes its appearance and even the ambitious commitments to build a world beating renewables industry have their origins in the previous Salmond administration. Not much is eye-catchingly new.
I heard some not unreasonable fears that NSET would overplay the arguments for a wellbeing economy at the expense of more traditional themes of economic growth and competitiveness. The Scottish Government has, for some time, appeared more comfortable reminding the private sector of its responsibilities than preparing the ground for faster economic growth. NSET does begin - but I have to say only begin - to correct that impression. There is nearly as much about new markets and an enterprise culture as there is about fair work and securing net zero goals.
It is hard to argue though that a balance does need to be struck between increasing wealth, ensuring that as many of our citizens share in that wealth, and minimizing our environmental impact. It is not especially controversial. Most corporate businesses have embedded that thinking through their ESG targets and turned up at COP26 to make even firmer commitments to their environmental action plans. Glasgow’s own strategy for the growth of the city’s regional economy also attempts to strike the same balance and NSET does include a reference to that work.
But that is the only mention of Scotland’s biggest city. True, this is a national plan and perhaps one should not expect too much discussion of regional matters, but Aberdeen gets a fair hearing for Opportunity North East and both Dundee and Edinburgh are mentioned as leading cities in the digital economy. Glasgow is one of the most prominent geographies for expanding the space industry, fintech, industrial biotechnology, precision medicine and medical technologies, and the photonics and quantum clusters. It would have been reassuring to see at least some acknowledgement of Glasgow’s role. Even under the creative industries and major events there is no recognition.
I don’t wish to appear parochial but there are specific projects such as the Glasgow City Innovation District, the Advanced Manufacturing Innovation District at Glasgow Airport and the expansion of the Scottish Events Campus which would have benefited from confirmation of their national significance. These are not small initiatives. Glasgow City Council issued its Greenprint for Investment just before COP26 that listed ten projects costing £30billion, many of which - with the right financial models - should attract private investment. Those three projects are included. That feels closer to the bold, radical and laser focused initiatives that the Cabinet Secretary is demanding and certainly helps business understand how it can help deliver transformation.
This article was first published in The Herald on Wednesday 9 March 2022
