THE Scottish Government established the Advisory Group on Economic Recovery in April 2020 with a remit to provide urgent and expert advice in response to the coronavirus crisis.
The group was tasked with coming up with a series of proposals for when the “immediate emergency” created by Covid-19 had passed.
There are 25 recommendations in total.
They include a call to accelerate the review of the Fiscal Framework, with an aim of giving the Scottish Government more powers over borrowing. The report says “It is vital that the overall funding approach is robust to address economic recovery and is resilient to future economic shocks.”
The recovery, should, the group says, be investment-led, with governments in Edinburgh and London urged to make available a “significant increase in access to capital investment to support the recovery”.
The group also recommends the Scottish Government “manage ownership stakes in private businesses, which are likely to arise out of the crisis”.
They also urge ministers to talk to banks to “develop new instruments to enable the strategic incubation of otherwise viable and strategically important companies to ensure they are protected during the recovery phase”.
READ MORE: Scotland needs more powers to tackle coronavirus crisis, report says
The group calls on the Scottish Government, Scottish Enterprise and VisitScotland to deploy “its international presence to maximum effect” to try and increase foreign investment.
The body also wants regulatory bodies and local authorities to review planning policy to make it easier for projects to get the okay.
There’s also a call for the targeted use of rates relief and the greater use of conditionality in business support.
On tourism and hospitality, the Government are asked to press the UK Government to consider a reduction in VAT.
Meanwhile, there’s a call for a significant investment in Scotland’s digital infrastructure. The group wants to see substantial advances in the broadband and mobile networks that cover the country.
There’s also a call to prioritise green investments, backing projects that reduce emissions and create jobs.
The group want more nature-based investments too. They say this would protect and enhance Scotland’s natural capital.
On culture, ministers are urged to “increase public and private investment; and work to create a National Arts Force”.
There’s also a call for an acceleration in the reforming of adult social care and a “review the structure, funding and regulation”.
The Scottish Government are also urged to take action “to protect the capacity and financial sustainability of the third sector”.
The group also calls for “a renewed focus on place-based initiatives” including an acceleration of investment in housing.
They also recommend working with businesses to make flexible and home-working the norm.
Ministers are also urged to protect universities and colleges from the financial impact of the crisis, so that they can maintain and enhance their role as “anchor institutions”.
The Scottish Guarantee would also see 16-25 year olds given two years of work.
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