Building Scotland’s prosperity

Promoting sustainable growth, supporting businesses and tackling skills shortages will be central to Scotland’s economic recovery, according to Economy Secretary Kate Forbes.

The 2021-22 Programme for Government outlines how the Scottish Government will drive the green industrial revolution and help people into fair work by investing £500 million over this parliament to create high quality jobs and improve skills.

This year this includes up to £70 million for the Young Persons Guarantee, up to £20 million for the National Transition Training Fund supporting sectors hardest hit by the pandemic and up to £20 million to help the long term unemployed access and sustain fair work.

To maximise Scotland’s economic potential £100 million will be invested in research and development, targeting companies developing the innovative technologies of the future. A new £20 million Rural Entrepreneur Fund will help ensure growth is spread across the country, while the small business bonus scheme, fresh start relief and business growth accelerator are all to continue for the lifetime of this parliament. 

Ms Forbes said:

“Creating the right economic conditions and supporting sustainable growth is a foundation stone of our society – getting that right will combat poverty and generate the revenue to invest in the best public services.

“This Programme for Government provides a package of targeted investment to equip Scotland with the skills and technologies needed to achieve net zero and create secure and satisfying jobs paying a fair wage.

“We are a pro-jobs, pro-business and pro-prosperity government and will continue working with companies to understand their needs and equip people with the skills that employers require.

“While the global pandemic and Brexit continue to pose significant challenges, Scotland’s economy is beginning to recover, creating new opportunities to do things differently. The Programme for Government, along with our 10-year National Strategy for Economic Transformation to be published in the Autumn, will help us seize those opportunities, maximise our economic potential and build a fairer, greener and more prosperous Scotland.”

Background

Programme for Government 2021/22

Key economic commitments include:

• a Community Wealth Building Bill to help create and protect jobs and enable greater community and third sector ownership of assets

• create a new National Infrastructure Company and invest £33 billion in infrastructure, bolstering supply chains

• invest £1 billion during this parliament, including £200 million this financial year, in the Scottish National Investment Bank to build its portfolio

• a £500 million Just Transition Fund to support the North East and Moray over the next decade

• a new £50 million National Challenge Competition to be launched in late Autumn will support projects with the greatest potential to transform Scotland’s economy

• provide £100 million to improve the digital capabilities of business

• invest up to £20 million this year furthering our No One Left Behind ambitions and providing support to those facing long-term unemployment

• identify initial projects for the Green Growth Accelerator this year, marking an important first step to unlocking up to £200 million of public sector investment and incentivising local authorities to deliver low carbon infrastructure

• make the first payments from our £100 million Green Jobs Fund