From diversity Scotland’s economy draws strength


Picture of Derek Mackay

Derek Mackay, Cabinet Secretary for Finance, Economy and Fair Work

Please note: this blog was originally written for the launch of the Scottish Centre for Regional Inclusive Growth (SCRIG) which has since become the Scottish Hub for Regional Economic Development (SHRED). References to SCRIG have been changed to SHRED.

A common feature of successful economies in Europe and across the world is a strong regional distribution of economic activity and positive social impact. This approach demands more than just an acceptance of difference in relation to the roles which regions play within the national economy, it encourages drawing strength from the diversity between them.

The Scottish Hub for Regional Economic Development (previously Scotland’s Centre for Regional Inclusive Growth) will develop the evidence base for regional economic decision-making, and will support our regional economies within a framework that recognises the respective roles of the Scottish Government and its agencies alongside those of local government, the private sector and the increasingly important social economy too.

Scotland’s economy is fundamentally strong. However, as the uncertainties around Brexit approach it is more important than ever to provide our emerging, locally driven network of Regional Economic Partnerships with the tools to drive Inclusive Growth. The Inclusive Growth Diagnostic will make a wealth of regional level data available, and our National Economic Asset Register will offer the ability to draw upon our existing strengths, and draw upon our huge economic potential.

The analytical tools provided by SHRED will better enable our regions to collaborate with one another, to compete internationally and will improve our regional and national adaptability and resilience.

The launch of SHRED is a step towards a Scottish economy which leaves no one – and no place – behind. This is a time for strong regional economies and SHRED will help regional partners design, develop and deliver the Inclusive Growth which will mark Scotland out as an outstanding place in which to live, work, play and invest.

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