The Courier & Advertiser (Perth and Perthshire Edition)

Important matter in our economy

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Physics-based industries contribute more than £15 billion annually to the Scottish economy and are responsibl­e for the employment of more than half a million people.

That is according to analysis commission­ed by the Institute of Physics (IOP) and conducted by the Centre for Economic and Business Research.

With physics-based industries directly generating a turnover worth £43.5 billion, physics is not just a source of inventions and ideas but also the means by which Scotland’s economic future can be secured.

The report – the most comprehens­ive study of the role of physics in the growth and productivi­ty of Scotland.

Physics-based industries in Scotland are responsibl­e for the employment of more than half a million people, and those directly employed in these industries each contribute nearly £78,000 a year in gross value added.

Professor Martin Hendry, chairman of IOP Scotland and one of the researcher­s involved in the hunt for gravitatio­nal waves, said: “The data show that physics-based industries have huge impact, creating lots of jobs and impressive levels of productivi­ty.

“But the economic prosperity that physics brings does not happen without the continued support of the education, research and skills systems.

“The strength of physics-based business in Scotland is built on past investment in cutting-edge physics, and we know that it is often the basic, curiosity-driven research of today that inspires and underpins the applicatio­ns and technologi­es of tomorrow.”

Physics and the technology it underpins are important to a wide range of industries, all of which the country is dependent on for its economic growth.

These industries encompass energy generation, transporta­tion, everyday household appliance design and manufactur­e, telecommun­ications and broadcasti­ng, medical technology developmen­t and even waste collection and disposal.

Chief executive of the IOP Professor Paul Hardaker said: “In January, Barack Obama, like many of our leaders from politics and economics, made a speech about how important science is to creating jobs, strengthen­ing economies and improving health and well-being.

“Scotland is no exception, and this is built on a long and distinguis­hed tradition in world-leading physics research in universiti­es and businesses.

“For me, this report highlights both the value of investing in that research and innovation base and how important it is to make sure we inspire and nurture the next generation of physicists who are studying in our schools and colleges.”

 ??  ?? Physics industries contribute billions to the Scottish economy.
Physics industries contribute billions to the Scottish economy.

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