Since devolution was introduced at the turn of the century, the Scottish parliament has been afforded the opportunity to develop policy across a variety of different spheres, from health and social care to education and beyond. However, events of the past few decades have made it difficult to plan and execute long-term policy, with crises such as the Covid-19 pandemic and the UK’s departure from the European Union dominating the political agenda.
As Scotland continues to emerge from this period of exceptional geopolitical, social and economic challenge over recent years, we believe it is right to re-focus policy thinking back to the long-term. From investment in infrastructure to addressing the challenges of the adult social care system, a strategic focus on the long-term can ensure that Scotland harnesses opportunities for growth and face the emerging challenges in good time.
As experts in long-term risk management, the actuarial profession is publishing our policy prospectus Building a resilient Scotland, developed in conjunction with the IFoA Scottish Board. The prospectus suggests ways in which government and civil society can take an alternative approach to ensure a longer time horizon is considered in the policymaking process. We therefore call on Scottish policymakers to seize this opportunity to embrace the long-term, and to take risk-informed approaches to investing for growth and building a resilient economy for the future that supports a healthy population.
The IFoA looks forward to engaging across the political spectrum, as we highlight the ways our profession’s skills, knowledge, and expertise can help to achieve this goal.
