Create Scottish Government-owned renewable energy companies to generate national wealth and jobs

The Scottish Government could create state-owned companies to address multiple issues simultaneously. For example, by establishing a state-owned company to design, patent and manufacture innovative energy storage solutions to compete with private interests like Tesla in the emerging battery technology marketplace, Scotland can create high quality jobs in a global growth market while developing technology and intellectual property for the benefit of Scotland's future generations. This model could be applied across all renewable energy sub-sectors like wind, tidal, solar etc, and could be achieved either by 'ground-up' creation of new companies, or through acquisition of existing private companies with appropriate intellectual property that can provide manufacturing locations in Scotland.

Why the contribution is important

Scotland is rich in natural resources, many of which can provide renewable energy. Recent drops in the price of oil have highlighted the unsustainable nature of an over-reliance on fossil fuel extraction, which a responsible Scottish Government should, in the long term, be arguing to decrease. By creating state-owned interests in the expanding renewable energy market, Scotland can address the unemployment rate, create higher quality high technology jobs, embed intellectual property and the resultant revenues into the national economy and income stream, and grow Scotland's presence in a global market.

If job creation is left to the private sector then the recent trend for lower paid, lower quality jobs will continue, and high quality manufacturing-related jobs will continue to be created elsewhere in the world where maximum return for shareholders is the imperative. The Scottish Government should operate the companies for profit, to provide income to the national coffers, but while private interests will always maximise profit, a state-owned company can achieve a finer long term balance between creating profit and creating wealth for the employees.

by pjdocherty on March 27, 2016 at 08:14PM

Current Rating

0.0
Average score : 0.0
Based on : 0 votes