Why is it important?
Improving productivity is necessarily a long-term focus. Scottish productivity hasn’t shifted for decades and we don’t expect drastic changes in the near-term. But even incremental improvements will create a significant bounce in company margins and public finances.
An advanced economy like Scotland will have limited scope to significantly grow the population, so boosting productivity will be the key route to achieve more sustainable growth.
So, the continued focus on productivity is the right one, however, the question remains how to pinpoint the most effective actions to change it.
What is the Scottish Productivity Index?
The Scottish Productivity Index was launched in September 2019 to determine the impact and effectiveness of productivity enhancing measures, with a view to understanding ‘what works’ in addressing the weak levels of productivity growth that have dogged the Scottish economy for decades.
The aim of the index was to break down the concept of “productivity” into more meaningful me