“In the next decade, we face a choice to either lead or to lag behind other successful economies all whilst we recover from Covid, deliver net zero, tackle structural inequalities and grow our economy…” So reads the Scottish Government’s 2022 National Strategy for Economic Transformation.

But 16 years into government, the SNP’s economic credibility is in tatters. Presiding over a stalled economy that no longer works for working people with wages flatlining, fewer opportunities, business no longer listened to, and declining global competitiveness. Humza Yousaf had the chance in his first Programme for Government to put forward an industrial strategy for Scotland that could renew our economy. But unfortunately, he failed to do so. So where now?

Scotland has incredible strengths. It’s home to some of the world’s most dynamic businesses, a talented workforce and leading universities that are expanding the frontiers of human knowledge. Economic strength needs partnerships. State and market. Business and worker. Westminster and Holyrood.

A key plank of Labour’s offer at the next general election will be a modern industrial strategy which has partnership at its core, in the firm belief that’s what’s needed to deliver strong, secure growth and a fairer, greener future across Scotland and the UK. A consistent and clear long-term approach for Scotland is needed so business, unions, workers, and investors all know where they stand in the coming years, and can make the decisions necessary to thrive.

With the five elements below, a Scottish industrial strategy, buttressed within the UK, could secure prosperity for every part of the country.

Ten-year infrastructure plan: Firms rely on physical and digital infrastructure to grow – reliable transport links both within and between clusters, sufficient nearby housing for employees, and access to digital infrastructure such as fast, reliable broadband. The quality and reliability of key infrastructure are not good enough in Scotland.

The islands’ ferry service is a disaster. The SNP promised rail links to Edinburgh and Glasgow airports but both were cancelled. Scotland’s road infrastructure needs investment, vital projects are languishing without leadership from the SNP. For example, the Avon Gorge (A801) corridor which is recognised as being important to West Lothian, Falkirk and the wider Scottish economy as a key arterial transport route linking the M8 and M9 will see new casualty reduction schemes, but not the long-promised upgrade. As well as being a link between communities, it’s also an important strategic route for commerce with significant haulage and distribution traffic. This project and others like it would resolve long-standing road safety issues and promote wider economic activity. A ten-year plan is needed to provide long-term clarity.

A Scottish plan for a just transition: Fossil fuel energy plays a huge role in the economy and it’s also part of the social fabric. Communities depend on it and the jobs it provides. If we wait until North Sea oil and gas runs out, the opportunities the transition to net-zero can bring for Scotland will pass us by, and that would be a historic mistake.

How do you explain Scottish wind turbines, built in Spain, in Holland and Indonesia, while workers in Fife’s fabrication yards look out of their window and watch others putting them up in the Forth? We need a Scottish Government focussed on planning reform, better procurement, long-term finance, R&D, a strategic plan for skills and supply chains, and on ensuring good work, decent pay and union recognition. All to deliver a just transition.

Start-ups and spin-outs: Over the last decade, the SNP and Tory governments have both failed to capitalise on our fantastic universities to grow the number of spinout businesses that make the most of their ground-breaking research. The Scottish Government should be working much harder to leverage more capital into high-growth enterprises and scale-ups which will provide new opportunities and high-quality jobs in emerging sectors ahead of global competitors.

It must also work with universities to ensure they offer a range of options for the next generation of Scottish entrepreneurs to choose from, including one in which universities keep a relatively small stake of the equity. They should also be more flexible about the career paths of academics wishing to lead spinouts.

Financial services and tech: Scotland is a leading hub for financial services, supporting thousands of well-paid skilled jobs. A UK Labour government will give financial services the certainty they need to invest. Labour plans to unlock the £3 trillion of capital stored in UK pension funds to invest more in innovative businesses, jobs and infrastructure across the whole country. Scotland must stand ready to take advantage of that investment potential and the Scottish Government should be working on that now.

Scotland could be a global player in developing technologies and their uses – from advances in AI and quantum computing to building on our existing global reputation in fields such as video games. A UK Labour government can lead the way in setting a policy framework that encourages innovation while providing vital safeguards.

Brand Scotland: Our tourism, heritage, hospitality, sport, and food and drink sectors are key strengths which provide jobs all over the country. We can do more to grow these industries by selling Scotland to the rest of the world, and the Scottish Government and Scotland Office have vital roles to play in that. This should be backed up by greater investment in our airports so they can open up more direct international routes.

The SNP must focus the power of the Scottish Government on developing a comprehensive industrial strategy, one that catalyses investment, breaks down barriers and acts in partnership with businesses and trade unions. That leans into the benefit of being part of the UK but is adapted to our strengths. This is the kind of partnership approach that our economy needs so that we can unleash our nation’s true potential.

Gregor Poynton is a campaigns and communications consultant, a former UK and Scottish Labour party election strategist and a Labour activist

Where SNP has failed, Labour would deliver a modern industrial strategy – Gregor Poynton

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