Council of Economic Advisers: Chair's report 2016-2018

References

1. Council of Economic Advisers: Annual Report 2015-2016. Scottish Government. October 20916. Available at: /publications/council-economic-advisers-annual-report-2015-16/

2. Scotland's Economic Strategy, March 2015. Scottish Government. Available at: http://www.gov.scot/Resource/0047/00472389.pdf

3. Review of Targets and Indicators for Health and Social Care in Scotland. Available at: http://www.gov.scot/Publications/2017/11/4782

4. The National Performance Framework, Scottish Government. June 2018. Available at: http://nationalperformance.gov.scot/?_ga=2.110870981.1561526647.1528816845-1567414940.1501503148

5. Economy Publications, Scottish Government. Available at: /publications/?topics=Economy

6. Scotland's Place in Europe. Scottish Government. December 2016. Available at: http://www.gov.scot/Publications/2016/12/9234

7. Scotland's Place in Europe: People, Jobs and Investment. Scottish Government. January 2018. Available at: http://www.gov.scot/Publications/2018/01/6407

8. Inclusive Growth, OECD. Information available at: http://www.oecd.org/inclusive-growth/

9. Grow Inclusive, World Economic Forum. Information available at: https://www.weforum.org/projects/inclusive-growth-and-development

10. Joseph Rowntree Foundation, Inclusive Growth Monitor. Available at: https://www.jrf.org.uk/report/inclusive-growth-monitor

11. Inclusive Growth Commission, RSA. Information available at: https://www.thersa.org/action-and-research/rsa-projects/public-services-and-communities-folder/inclusive-growth-commission

12. City Deals in Scotland, Scottish Government. Information available at: /policies/cities-regions/city-region-deals/

13. 5 things you need to know about inequality, IMF Blog. Available at: https://blogs.imf.org/2018/01/23/5-things-you-need-to-know-about-inequality/

14. Making inclusive growth happen in the UK. OECD, Information available at: http://www.oecd.org/unitedkingdom/making-inclusive-growth-happen-in-the-uk.htm

15. 'Building our Industrial Strategy, UK Government. January 2017. https://www.gov.uk/government/consultations/building-our-industrial-strategy

16. Building our Industrial Strategy, UK Government. January 2017. https://www.gov.uk/government/consultations/building-our-industrial-strategy

17. Small Business Survey 2016, UK Government. Available at: https://www.gov.uk/government/publications/small-business-survey-2016-businesses-with-employees

18. Scottish Government, 2015. The Market for SME Finance in Scotland. Available at: http://www.gov.scot/Publications/2015/08/3776

19. Scottish National Investment Bank Implementation Plan, February 2018. Available at: http://www.gov.scot/Publications/2018/02/5676

20. Common Weal and New Economics Foundation

21. The Kay Review of UK Equity Markets and Long-term Decision Making, July 2012. Available at: http://www.ecgi.org/conferences/eu_actionplan2013/documents/kay_review_final_report.pdf

22. 'Working together for jobs and growth: The role of National Promotional Banks (Investment banks) in supporting the Investment Plan for Europe', European Commission, November 2014. Available at: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:52015DC0361&from=EN

23. Prior to 2017, the Scottish Government and enterprise agencies had considered the context and opportunities for establishing a Scottish Business Development Bank; at that point, this did not go ahead. A number of concerns were raised, including, the context of the UK Government accounting arrangements within which the SG works: the ability to raise and spend investment, manage funds (especially receipts) across more than one financial year, build reserves and reinvest surpluses in future evidence based activity. As an alternative, in February 2016 the government announced a broader approach to enhance the access to finance for SMEs through a range of initiatives, principally the SME Holding Fund and enhanced investment activities of Scottish Enterprise.

24. Patient Strategic Finance: opportunities for state investment banks in the UK. UCL Institute for Innovation and Public Purpose Working Paper, December 2017. Available at: https://www.ucl.ac.uk/bartlett/public-purpose/publications/2018/jan/patient-strategic-finance-opportunities-state-investment-banks-uk

25. State investment banks and patient finance: An international comparison. UCL Institute for Innovation and Public Purpose Working Paper. February 2018. Available at: https://www.ucl.ac.uk/bartlett/public-purpose/publications/2018/mar/state-investment-banks-and-patient-finance-international-comparison

26. A suggested typology of the roles played by Development banks, and their economic rationale, is found in Mazzucato and Penna (2016), "Beyond market failures: the market creating and shaping roles of state investment banks", Journal of Economic Policy Reform.

27. Council of Economic Advisers: building our industrial strategy. April 2017. Available at: /publications/uk-government-green-paper-building-our-industrial-strategy/

28. Building our Industrial Strategy Consultation Paper, UK Government. Available at: https://www.gov.uk/government/consultations/building-our-industrial-strategy

29. The impact of an increase in the additional rate of income tax from 45p to 50p Scotland, March 2016. Available at: http://www.gov.scot/Resource/0051/00514336.pdf

30. Potential impact of an increase in the additional rate of income tax from 45p to 50 p, Scottish Government, December 2017. Available at: http://www.gov.scot/Resource/0052/00529084.pdf

31. A Masters student from University of Edinburgh undertook research, across Summer 2017, into the evidence base on taxpayer's responsiveness.

32. Estimating the responsiveness of top incomes to tax: a summary of three new papers. IFS, 2017. Available at: https://www.ifs.org.uk/publications/9675

33. Tax, legal form and the gig economy; taken from the IFS Green Budget 2017. Available at: https://www.ifs.org.uk/uploads/publications/comms/R124_Green%20Budget_7.%20Tax%2C%20legal%20form%20and%20gig%20economy.pdf.

34. This is according to Annual Population Survey data, although this trend is not evident from business statistics.

35. Ibid, see note above.

36. Scotland's Economic and Fiscal Forecasts December 2017. Scottish Fiscal Commission, December 2017. Available at: http://www.fiscalcommission.scot/publications/scotlands-economic-and-fiscal-forecasts/scotlands-economic-and-fiscal-forecasts-december-2017/