Focus on our most productive industries
As part of a gradual release of the lockdown, some form of priority in respect of a return to work should be given to those sectors or businesses in the Scottish economy that are known to be most productive and earn the greatest revenues for Scotland's economy, but crucially at present could also adapt quickly to meet new social distancing working practices. Their return to work should also, if necessary, be facilitated, perhaps through a greater focus on / support for their ability to operate. Given that there will be a need to gradually unlock to prevent a second spread of virus, a sector by sector (or even company by company) return is required, and this idea would be one means of providing a criteria for that return to work, especially as travel and contact outside the home is presumably one means of transmission.
If necessary, these businesses could also be given medium to long term support (perhaps through tax relief on investment to meet social distancing practices or on PPE purchases) to ensure that they can quickly start operating again.
Why the contribution is important
It is important that the economy recovers to compensate for the economic losses that have had been necessary to counteract Covid-19. A focus on our most productive industries would be one means to achieve this and boost economic growth more quickly. If these industries are up andrunning again quickly, while other parts of the world are also coming out of lockdown, there may also be scope for them to recover and perhaps even exceed their previous market share, increasing their profitability - and tax take - quickly, which will have a longer term benefit for the UK and Scottish economy. This is in line with the same principle that certain medical requirements that were previously halted (such as cancer screening) but also need to be quickly started again.
by JoeinPartick on May 08, 2020 at 10:29AM
Posted by PlasticJock May 08, 2020 at 10:33
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Posted by JoeinPartick May 08, 2020 at 16:15
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