The Scottish Government’s advisory group on economic recovery have asked for views on what steps will be necessary to help the country recover from the economic damage done by the Coronavirus.
In our submission we make the argument for investment to create more resilient services to create a more resilient economy.
One of the things shown up by the pandemic is that we have seen what is, and who are, essential. Any longer term social and economic strategy has to be built around these – not least because they will always need to be done, and always need to be done here. There is more sustainability – socially, environmentally and economically – in prioritising these areas than an endless beauty contest to attract increasingly footloose global capital.
By core activities we mean essential goods and services like housing, utility supply, health, transport education and care. This foundational economy of branches and networks provides the infrastructure of everyday life. These serve our essential daily household needs, keeping us safe and civilised. These can and should be at the centre of any future economic strategy. Investing in these sectors provides both longer term economic benefit and increased social resilience. Investing in these sectors can provide reliable incomes for workers, with returns that go into the community rather than offshore bank accounts. They are sectors less vulnerable to economic shocks and more reliable over the medium and long term