WIREDGOV

A new report has shown that business investment in Scotland has risen to a 20-year high - in contrast to a fall across the UK.

Deputy First Minister Kate Forbes today helped to launch the annual CBI–Addleshaw Goddard Scottish Productivity Index, showing a rise in business investment to more than 10% of GDP for the first time in 20 years.

The Index confirms Scotland leads the UK in higher-level qualifications with 53.7% of the working-age population educated to this level. It also highlights key progress in patenting activity, internet speeds, and the expansion of electric vehicle charging infrastructure.

Ms Forbes said:

“This report shows the strength of Scotland’s economy, and that real progress is being made in areas in which the Scottish Government holds full powers, including educational attainment and business investment.

“While our economy is held back by a low-growth UK Government model and damaging decisions on matters like employers national insurance increases, we will always be working with one hand tied behind our back.

“But I am encouraged to see these figures reveal business investment reaching its highest level in 20 years, showing that industry recognises Scotland’s real strengths as highlighted in the Index - one of the UK’s most highly educated workforces, globally significant energy assets, and improving digital and green infrastructure.

“The report highlights there is still work to be done on productivity - which is the foundation of higher wages, sustainable growth, and strong public services. If we want rising living standards and resilient public finances, it must be central to our economic decisions so our focus will continue to be on turning our strengths into higher productivity.

“Scotland has huge economic strengths. From being at the forefront of the energy transition to rapidly emerging cutting-edge technologies, we have an enormous opportunity, and will continue to work as hard as we can to bring investment to Scotland, resulting in more high quality jobs across the country.”