Advisory Council for Economic Transformation: terms of reference

The Scottish economy faces unprecedented challenges as it recovers from the pandemic and transitions to becoming a net zero economy. To guide the economy through this period, the Scottish Government has committed to delivering a new 10 year National Strategy for Economic Transformation. 

The strategy will be bold and ambitious in driving transformational change in the Scottish economy. It will outline how we can unleash our entrepreneurial potential, grow our competitive business base, invest in and support industries of the future, support businesses in the transition to net zero, deliver new, good and green jobs, and lead transformational change right across the whole of Scotland. 

To help shape and drive the strategy, which is expected to be published in October/November 2021, an Advisory Council will be set up drawing on business leaders, academics and public policy experts. The Advisory Council members will bring their experience, insight and bold ideas to inform the strategy. 

Remit of the Advisory Council 

The Advisory Council, chaired by the Cabinet Secretary for Finance and Economy, will meet virtually over the summer and early autumn. We envisage the Advisory Council meeting at least four times during this period. Alongside the plenary meetings there will be wider engagement directly with members and also with their wider networks and other stakeholders. 

Members are being asked to feed in their perspective (including from their wider network of contacts) to inform the framing and focus of the plan but also to bring forward ideas or highlight issues with respect to opportunities to transform Scotland’s economy. 

After the strategy is finalised, the focus of the Advisory Group will shift to the delivery of key projects. Members are being asked to agree firstly to participate in the development and shaping of the plan and we will consider arrangements post-publication for on-going engagement. (Likely to have a smaller group of members focussing on implementation and delivery).