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Matts (1087)

Matts
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I work for MessageLabs [messagelabs.com] in Toronto, ON, Canada. I write spam filters, MTA software, high performance network software, string matching algorithms, and other cool stuff mostly in Perl and C.

Journal of Matts (1087)

Thursday August 08, 2002
11:11 AM

Scottish Economy a bit sick

[ #6981 ]

I was always very glad when we left Scotland - I had a really bad feeling about the way things were going there. We saw large companies coming in and taking free investment deals from the government to setup large factories and technology facilities there, and we saw them close those plants in a year or two, walking off with the investment money. I really have no idea how they did that or what kind of deal was going on there. I just know people who lost their jobs over that.

Anyway, what brought this to my thoughts again? This article on yahoo.com (of all places). It's a pretty damning assessment of the state of the scottish economy right now. My choice quote would be:

Cutting edge e-commerce and telecom companies in Scotland have experienced such a collapse in value that the entire sector is now valued at less than that old economy stalwart, Belhaven Brewery.

Ouch.

Thanks to my wife Heather, for the link.

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  • I didn't know that Scotland had been doing this for years. The first example I saw was pushing Scotland as a place to open up biotech and genomics research facilities, thanks to generous government incentives (highly educated workforce, location within the EU, etc.). And that was in a recent (July/August) issue of some American technology magazine...

    It must be working for someone. There's always a handful of ads like this in the Economist every week. Singhapore has been running these kinds of ads for

    • The problem is that the workforce isn't highly educated. The majority of the educated workforce in scotland migrates to London (I don't have stats for this, it's only based on talking to people while I lived there). This "brain drain" is a really well known factor in scottish economics.

      What I don't know is where they're getting their money from. I have a feeling that Scotland is separately governed, but not separately funded. Does this mean there is a financial drain towards Scotland? Perhaps. Or perhaps I
      • What I don't know is where they're getting their money from.

        Petrol, tourism, and banking. By tax collection standards the state is doing well, iirc better than England which might explain why they can try to give some of it away?

        --

        -- Robin Berjon [berjon.com]