| SCOTLAND : a New Player in a Global Economy? | | | | 01/09/2008 | [Scottish economy, Scottish strengths and key industries, relationships with the world, the Scottish independence project ] |

* Table of content

Introduction 2

I. Economic situation of Scotland 3

A. Growth 3 B. Inflation 4 C. Employment/Unemployment 5 D. Further information 8

II. PEST analysis of the key industries 9

A. Agriculture and fisheries 9 B. Petroleum and gas 14 C. Electronic 16 D. Tourism: 18 E. Others 19

III. The Scottish independence 20

A. Scotland’s relationships with the world 20 B. Scotland: a possible Celtic Tiger? 22

Conclusion 24

References 25

* Introduction

Scotland takes part of United Kingdom, fifth largest economy of the world. However, some characteristics make it different from England, Northern Ireland or Wales: a production focused on exportation, important government supports and foreign investments more and more present. Though, Scotland is more exposed to currency fluctuation, the governmental policies and the evolution of world economy.

Since the World War II, in a context of difficult economic health for the country, autonomist claims have been raised among the Scottish population. At the same time, UK government has given more power to the Scottish Office, reinstated since 1885. In 1947, the Scottish National Party (founded in 1934) tried to create an autonomist assembly, and failed. Despite the discovery of petroleum in Northern Sea in 1969, Scottish waited until the election of Tony Blair in 1997 to establish once again the discussion about a devolution project. In 1999, the Scotland Act was approved and allowed Scottish Parliament to come back after 292 years of absence. The Scottish Parliament only has the legislative power to vote laws in specific fields such as health, education, tourism, law, environment… Today, the question of a total independence is still