Scotland is home to 5.4m people. In 2014 a referendum on independence produced a “no” vote but did lead to additional powers being passed on to the devolved Scottish Parliament, which sits at Holyrood in the Scottish capital Edinburgh. Among the parliament’s plans for 2017 was additional support for Scotland’s cities by progressing more funding through City Region Deals. Beneficiaries were to be Edinburgh, Dundee, Perth and Stirling.
Scotland’s economy is valued at around £152bn. Its once-powerful oil industry has experienced turbulence but its training and innovation expertise remains in demand. Financial services are a key economic driver, contributing 9.3% to the nation’s economy. Then there’s whisky, which is Scotland’s third-largest industry.
Scotland projected growth 2017-2027
Total GVA: 16%
GVA per employee: 11.9%
Employment: 3.8%
Northern Ireland’s population of 1.8m is one of the youngest in Europe, with more than half aged below 40. Economically it boasts expertise in everything from aerospace to wave power.
However, the growth of its economy has been forecast to slip to 0.9% in 2018, well below the forecast growth rate for the UK of 1.4%. Earlier in 2017 the country received an unexpected financial boost in the shape of £1bn additional funding from the UK government, following a political agreement on voting support between the minority Conservative government and the DUP. Around £400m will go to boost motorway infrastructure and £150m to provide enhanced broadband.
Northern Ireland projected growth 2017-2027
Total GVA: 10%
GVA per employee: 6.9%
Employment: 3.3%
Source: Cebr/Irwin Mitchell
