How productivity could deliver inclusive growth in Scotland
The UK economy has struggled to maintain productivity growth since the financial crash in 2008. Despite catching up with UK pay and productivity levels in the first decade or so of devolution, more recently Scotland’s economy has struggled to maintain consistent growth in productivity rates too.
As the key means of driving up a country’s average living standards over the long term, productivity growth is incredibly important to social and economic outcomes. Poor productivity can hold back growth and hold down wages. Equally, even strong productivity growth may not tackle Scotland’s long-standing inequalities, depending on who benefits from increasing productivity.
This report aims to shed light on the challenges and opportunities of delivering productivity growth in Scotland that can deliver an economy that narrows inequalities, delivering a more inclusive economy that can drive greater prosperity alongside greater economic justice.