The Scottish Government’s focus on following a single, unified approach to the economy risks being blurred by a proliferation of strategies, advisory groups and discussion forums, warns the Fraser of Allander Institute (FAI).
In our latest Economic Commentary, supported by Deloitte we caution that a cluttered policy landscape can lead to confusion, a lack of alignment, duplication and weakened accountability.
The warning comes as the Institute’s latest analysis shows that over the past 12 months, Scotland’s economy grew by just 0.6% – below trend and just over one-third that of the 1.7% for the UK as a whole.
With oil and gas sectors stabilising somewhat, a further sharp decline in construction is pinpointed as the key driver of Scotland’s more recent sluggish economic performance.
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The Fraser of Allander Institute (FAI) is a leading economy research institute based in the Department of Economics at the University of Strathclyde, Glasgow.