Great Britain

Nicola Sturgeon: Scotland "redefining" what it means to be successful nation

Scotland is "redefining" what it means to be a successful nation, Nicola Sturgeon has told business leaders.

The SNP leader has said that the broader "wellbeing" of the population covering areas like health and general happiness is as important as economic growth.

Nicola Sturgeon says Scotland is redefining the meaning of a successful nation

Nicola Sturgeon says Scotland is redefining the meaning of a successful nation

Scotland will take centre stage in the coming year by hosting a number of events to promote the creation of a "global wellbeing" economy, Ms Sturgeon told the Wellbeing Economy Alliance conference.

But it comes after it emerged yesterday Scotland fell five places in the latest index of social and economic well-being covering developed countries.

Ms Sturgeon said: “Scotland is redefining what it means to be a successful nation by focusing on the broader wellbeing of the population as well as the GDP (Gross Domestic Product) of the country.

“The goal and objective of all economic policy should be collective wellbeing. This broader approach is at the very heart of our economic strategy which gives equal importance to tackling inequality as economic competitiveness.

“It is why we are so committed to fair work and making sure that work is fulfilling and well paid and why we are acting to ensure a just transition to a carbon zero economy where no one is left behind.

“Putting wellbeing at the heart of our approach means we can focus on a wider set of measures which reflect on things like the health and happiness of citizens as well as economic wealth to create a world that considers the quality of a person’s life to be as precious an asset as financial success.”

This year will see Scotland hosting an international business-led summit on the benefits of a wellbeing economy to the private sector, as well as a Wellbeing Economy Government’s (WeGo) meeting as part of the fringe at COP26 focussed on how to achieve an economy that is environmentally sustainable while ensuring social wellbeing.

There will also be further meetings in Edinburgh focussed on Just Transition, Net Zero economies and wellbeing budgeting.