Latest News:
2008 Annual Report launched on 27 May 2008 by John Swinney MSP, Cabinet Secretary for Finance and Sustainable Growth.
Latest Publications:
2008 Annual Report
2007 Annual Report
Latest News Releases:
Launch of 2008 Annual Report News Release
Global Financial Services Week 26-30 May 2008 - for further information on this Week please
regularly check www.globalfinancialservicesweek.com for updates.
FiSAB Annual Report 2007
Scotland's Financial Services Industry
Financial Services is a real Scottish success story. It is one of Scotland's oldest industries, and yet one of our most modern, vibrant and innovative.
Today the financial services industry makes a vital contribution to the strength of Scotland's economy, to our quality of life and to our growing international reputation as a world class location for business. It contributes around £7billion (7%) to Scottish Gross Domestic Product (GDP) and is one of the fastest growing sectors of the Scottish economy. Over the period 1998-2007, GDP in Scotland's financial services industry has grown by 96%, compared to growth of 22% in the economy as a whole, and 84% across UK financial services as a whole.
In 2005, the government, together with the industry and the trade unions, published a Strategy for the Financial Services Industry in Scotland. This set out an ambitious vision for an innovative, competitive and thriving financial services industry, underpinned by world class infrastructure and universally acknowledged as a leader on the global stage.
A First Year Implementation Plan was published alongside the Strategy.
The first Annual Report was published on May 15, 2006.
On 27 May 2008, on behalf of the Financial Services Advisory Board (FiSAB), John Swinney MSP, Cabinet Secretary for Finance and Sustainable Growth and John Campbell (FiSAB Industry Deputy Chair and Chairman of Scottish Financial Enterprise) jointly presented the 2008 Annual Report of the strategy. This sets out:
- A summary of achievements in the third year of the strategy.
- Comparative data on the strong progress made by the financial services industry in Scotland.
- An outline of plans for year four and beyond.