Fraser of Allander Institute eyes research growth

A leading economic institute is to mark its 40th anniversary by boosting its research capabilities.

The University of Strathclyde's Fraser of Allander Institute is investing in new research and postgraduate fellows.

A new director designate will also join the institute in April, while a board of advisers featuring leading economists will be created.

It also plans to expand its economic research services for the third sector, government, business and industry.

The university said the move was "particularly timely", with the Scottish Parliament soon to assume greater tax and spending powers.

It added that the expanded institute would be able to provide decision-makers, the media and the public "with even greater leading-edge independent economic analysis than before".

The institute's new director designate will be Prof Graeme Roy, a former senior economic adviser in the Scottish government.

The board of advisors will be chaired by Prof Andrew Goudie and include the chief economists of both the Scottish and UK governments.

Further details will be announced at an event at the Scottish Parliament to mark the institute's 40th anniversary.

'Step change'

Ahead of the event, University of Strathclyde principal Prof Sir Jim McDonald described the investment as a "step change" for the institute.

He said: "At a time when the Scottish Parliament is gaining significant new powers and responsibilities and the future of the UK's economic and financial system is undergoing a major re-think, the need for independent economic and fiscal analysis has never been greater.

Prof Sir Jim McDonald described the expansion as a "step change" for the institute

"With more than four decades of economic forecasting experience behind it, the Fraser of Allander Institute is uniquely placed to provide the independent research and analysis needed to inform public debate and decision making.

"This new investment will enable the institute to spearhead new research into public spending and finance that will be of relevance not just in Scotland and the UK, but also internationally."

The institute regularly publishes an economic commentary, which includes forecasts and detailed analysis of the Scottish economy.

It also carries out surveys of the economy on a regular basis.