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Current Situation in Scotland - Coursework Example

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The coursework “Current Situation in Scotland” concerns specific areas of the economy, culture, and government in the country which aims to remove from the United Kingdom and which has recently undergone a number of low carbon initiatives to establish a low carbon plant…
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Current Situation in Scotland
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Download file to see previous pages While in recent years the Scottish economy has declined in terms of manufacturing this is indicative of the broader economic progress among advanced industrialized regions. In addition, the decline in manufacturing has been accompanied by a steady increase in the service industry. In terms of currency, the country is not a Eurozone member state and continues to use the British Pound Sterling as its official currency. In terms of Gross Domestic Product, the latest figure for the country was at £131,163 million. The country’s unemployment rate is at 2.1%. In terms of the encouragement of entrepreneurship the country is largely in support of free trade and has been noted to actively participate in the Single Market and Free Trade Area. These organizations are designed to encourage entrepreneurship and free development in Scotland and the larger European Union.
In terms of the country’s current economic strategy, there are a number of prominent considerations. While the country felt the effects of the recent economic recession they have made recovery on par with Europe and the United States. Still, they have been aggressive in attempting to institute reforms and economic measures that contribute to the economic recovery. In these regards, the Scottish government has affirmed that they are committed to, “delivering faster sustainable economic growth with opportunities for all to flourish”. Among specific economic initiatives, the country is working towards establishing a focus on low carbon manufacturing. The country is working aggressively to increase export production, with a goal of increasing the figure by 50% by 2017. In terms of entrepreneurship and the small business environment, the country is decidedly supportive. In these regards, the high technology incubators have been established as a means of fostering this business environment. The Scottish Investment Bank has also been implemented as a means of supporting early-stage innovative technology businesses. ...Download file to see next pagesRead More
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