WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
Scots tourism value could double to £23bn in 2025
Scotland’s tourism industry could be worth more than £23 billion to the economy by 2025, doubling the current value of the sector, according to a new report. The figures serve to highlight the importance of the industry to the ongoing economic recovery, national tourism organisation VisitScotland said. The report, conducted by Deloitte and commissioned by VisitBritain, says that the tourism economy will be worth around £11.6 billion in 2013, equivalent to 10.3% of Scotland’s GDP. (Scotsman)
Independence White Paper: A business plan for Scotland? - 3rd December - Edinburgh
Will the forthcoming SNP blueprint for independence help provide the answers for undecided Scots ahead of next year’s referendum?
Join us to hear keynote speakers including Chris van der Kuyl, from the world of politics and business to debate the merits of the independence white paper. Join the debate today and ask the questions that matter to you. Visit the Scotsman Conferences for more details.
Jobs blow as North Sea oil plan delayed
Multibillion-pound plans for a new North Sea oil field that would have created hundreds of jobs have been postponed. Statoil announced last night that it was putting plans for the Bressay field on hold for now – because it thinks it can find a cheaper way to get at the oil. The company had planned to drill up to 70 production wells on the field, following a similar approach to the planned development for the neighbouring Mariner field.
Scots oil and gas exports worth £30bn last year
SCOTLAND’S exports of oil and gas to the rest of the UK and international markets were worth an estimated £30 billion in 2012, official figures show.And international sales by firms which produce supplies for the North Sea industry have more than doubled, from £3.4bn in 2003 to £8.2bn in 2011. The Oil and Gas Analytical Bulletin, published by the Scottish Government yesterday, summarises new experimental statistics which show exports of crude oil and natural gas liquids (NGLs) were worth almost £18bn in 2012.
FOOD, DRINK & AGRICULTURE
BrewDog bang drum for crowdfunding at Holyrood
IT’S the self-proclaimed “punk” brand that likes to fly in the face of convention, but beer maker BrewDog pitched up at Holyrood yesterday to bang the drum for crowdfunding. Appearing in front of the Scottish Parliament’s economy committee, BrewDog finance director Neil Simpson said the Ellon-based firm had tapped its fans to help with its fundraising plans because mainstream lenders were too risk averse. (Scotsman)
200 jobs to go at Coupar Angus chicken plant
MORE than 200 jobs are set to go at a major chicken processing plant in Perth and Kinross in a hammer blow for the local economy. Food giant the 2 Sisters Food Group has announced plans for redundancies at its Coupar Angus site with up to a third of the jobs of the 658 strong workforce under threat. The group only took over the Coupar Angus plant from the troubled Vion company in March this year.
(http://www.scotsman.com/business/food-drink-agriculture|Read all today’s food, drink and agriculture news from scotsman.com|Click here}
TRANSPORT & INDUSTRY
Milne warns red tape may strangle housing boom
BOTTLENECKS in the planning system are now the main factor holding back housebuilders as mortgage availability and demand for homes picks up, builder Stewart Milne has warned. The chairman and chief executive of the eponymous Stewart Milne Group was speaking after the firm reported a 10 per cent increase in home completions, but sank to a pre-tax loss due to the cost of winding down its contracting and commercial construction division,