Smith calls for sectors to raise co-operation

ONE of Scotland's most senior industrialists has called on the engineering and financial services sectors to work together to capitalise on the transition to a low carbon economy.

Lord Smith of Kelvin said the move to alternative forms of energy generation was a huge opportunity for Scotland's traditionally-strong engineering and manufacturing sectors.

But he warned that a lack of skilled workers would be a stumbling block unless more was done to attract and train young workers.

He said: "A key challenge is in improving the supply of people with the right skills to continue Scotland's intellectual tradition of the best engineering and manufacturing ideas.

"We need around 50,000 workers in Scotland by 2017-18 to meet replacement demand in manufacturing.

"Scotland must provide accessible pathways into engineering, manufacturing and technology education for young people."

Smith was speaking at the Scottish Council for Development and Industry's annual lecture in Aberdeen last night.

He said the global shift towards a low carbon economy would rely on a partnership between private enterprise and state funding and suggested Scotland should set up a body to facilitate investment in renewable energy.

He said investment in the new low carbon infrastructure would provide a chance for lenders to repair their damaged reputations after the financial crisis.