Plans to offer tailored support to Scotland’s manufacturing sector and create a joint centre of excellence and skills academy have been welcomed by Business for Scotland.
BfS finance spokesman Ian McDougall said:
“The UK lags far behind many other smaller European nations in terms of manufacturing capability, productivity and pay levels, and there is no reason for the other than a misguided focus on the service sector and a lack of investment from successive Westminster governments.
“This type of Scottish government funded support will start to address this imbalance, assist manufacturing growth and help to lift both productivity and pay levels in Scotland.”
FM Nicola Sturgeon announced the £70 million investment today (Monday). The funding, including £30 million from the European Regional Development Fund, will enable companies to capture new opportunities presented by a move to a more circular economy.
“A Manufacturing Future for Scotland” is a new strategy for manufacturing, which outlines how government will work with industry and with higher and further education institutions to stimulate innovation, improve productivity and increase investment in Scottish manufacturing in order that it can better compete globally.
Manufacturing represents more than half of Scotland’s international exports and investment in research and development, with nearly 190,000 people employed in the industry.