I DIDN’T expect to be moved. But that’s what happened..
I DIDN’T expect to be moved. But that’s what happened as I was looking up each one of Scotland’s top 100 private companies.
But at least from a private company perspective, we do not seem to be growing green industrial giants in Scotland. Well, at least we have an historic capacity for stupefying and stuffing ourselves, in order to fill up the void of our lack of national development. Straightaway, worth scores of billions, you see companies like Vestas Wind Systems and Orsted. They’re going gangbusters, providing the engineering systems required to drive renewable energy.
The think tank Common Weal wrote a paper on FDI recently. They estimated that Scotland has experienced “a net outflow of wealth in every year since records began in 1998 – totalling around £277.4 billion between 1998 and 2021. Of this, £134.7 billion was extracted to the rest of the UK and £142.7 billion was extracted to the rest of the world”.
She concludes: “But these are UK-wide issues. We don’t discuss these things sufficiently in Scotland. For example, why do we aim to change employment law but not company law? Nick then points me to an extraordinary site promoting Estonia to the wider business world. This fully digitalised, fiscally streamlined country – 1.3 million strong – sets itself up as an open economy.This is FDI on steroids, and vigorously shaking its tailfeathers. They boast that they’ve instigated 10 “unicorns” : Skype, Playtech, Wise, Bolt, Pipedrive, Zego, ID.me, Gelato, Veriff, and Glia.
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