The Scottish Government published its 10-year strategy for economic transformation on 1 March 2022.

The Scottish Government’s vision for this strategy, known as the National Strategy for Economic Transformation (NSET), is to deliver a wellbeing economy for Scotland.

The Scottish Government define a wellbeing economy as “a society that is thriving across economic, social and environmental dimensions, and that delivers prosperity for all Scotland's people and places”.

To deliver this goal, NSET contains five ‘programmes of actions’: 

Entrepreneurial People and Culture

New Market Opportunities

Productive Businesses and Regions

Skilled Workforce

A Fairer and More Equal Society

The strategy has a chapter devoted to each of these five programmes of actions, along with a chapter devoted to how the plan will be delivered.

Following publication of NSET, the Committee held an initial evidence session with the Cabinet Secretary for Finance and the Economy. At this session, the Cabinet Secretary confirmed that delivery plans would be finalised for each of the new programmes of action, within six months of the publication of this strategy.

In a letter to the Committee of 29 September, the Deputy First Minister and Cabinet Secretary for Covid Recovery confirmed that, given the changed economic situation, the Scottish Government took the decision to delay publication of the delivery plans. He noted that the Scottish Government will be in a position to publish NSET delivery plans by 31 October.