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Second, I would suggest thinking more about what may lie ahead in a Scotland where reducing greenhouse gas emissions is taken increasingly seriously. At the Institute we have recently, with support from the Scottish Government and the Economic and Social Research Council, published a thought-provoking report on ‘The View from 2050’ – what the world might look like then if the Scottish Government’s stringent emission reduction target is achieved. This includes 16 essays from a host of
different, but universally informed, perspectives. Some strategic thinking across the Edinburgh and Lothians about not just how emission reduction might be achieved, but what it could mean for the citizens, society and institutions of this area should bear fruit.
And finally, there’s the debate on how Scotland’s constitutional settlement might be adapted, via increased devolution or a path to independence. The interim report of the Calman Commission is due soon, along with a separate report by a group (of which I am a member) led by Professor Anton Muscatelli of Heriot Watt University on financial and economic aspects. My reading of the tea leaves suggests Calman is seriously seeking
areas of possible further devolution – and the main parties of the Union will be seeking some ‘third way’ between the status quo and a referendum on independence.
Businesses in Edinburgh need to consider how extending devolution, including enhanced fiscal devolution, could affect them. At present many appear inhibited in case they are seen as favouring one political line over another. That should not be a deterrent. Business can pre-empt the debate by considering how the issue might impact on their competitiveness. Stimulating discussion around these areas would really add value and reduce the risk of some politically-driven fix. At the DHI we are publishing a report by informed and objective economists and with the aid of our friends at Scottish Financial Enterprise running a major seminar on 12 November. The more contributions from those who
understand the role of business in our economy the better.
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