An £18 million fund to help Scotland’s businesses benefit from developments in manufacturing was among the key actions announced at the end of last month in a new plan to help boost economic growth.

As part of a response to the business-led Enterprise and Skills Strategic Board, the Economic Action Plan (EAP) sets out a number of new and existing actions that will work together to build a strong, vibrant and diverse economy — one that promotes well-being and attracts investment.

The EAP follows the publication of the State of the Economy Report, which found that Scotland’s economy continued to strengthen in the first half of 2018, with annual GDP growth the strongest since 2014 (and above the UK as a whole), while the labour market continues to perform strongly, with unemployment falling over the past year.

Derek Mackay, Scottish Economy and Finance Secretary (pictured), published the EAP ahead of a visit to Mudano in Edinburgh to celebrate the fact that the London-based consultancy company recently established a base in Edinburgh.

The new measures in the EAP include a commitment to: maintaining a stable and competitive tax regime as part of a supportive business environment; establishing an Advanced Manufacturing Challenge Fund to ensure that all parts of Scotland benefit from developments in advanced manufacturing; responding to the rapidly changing skills needs of business and employees by enhancing support for re-skilling and up-skilling; working with business to pilot two Productivity Clubs; expanding the role of the ‘Can Do’ Business Innovation Forum; and launching a ‘Come to Scotland campaign’ to attract talent and investment.

Mr Mackay said: “Scotland has huge economic potential, and we are well placed to take advantage of the economic opportunities that come from our established strengths in innovation and technological change.

“That will stimulate our economy even further — and lead to a more prosperous and fairer society.”