The economy of Scotland is closely linked with the rest of the United Kingdom and the wider European Economic Area. Scotland has the second largest GVA per capita of countries in the United Kingdom after England, though it is still lower than the average of the United Kingdom as a whole. Revenue from North Sea oil and gas is not included in these figures, if it were it would reveal Scotland with a budget surplus or small deficit.

Scotland was one of the industrial powerhouses of Europe from the time of the Industrial Revolution onwards, being a world leader in manufacturing industries, at the time, which today has left a legacy in the diversity of goods and services which the Scottish economy produces, from textiles, whisky and shortbread to aeroengines, buses, computer software, ships, avionics and microelectronics to banking, insurance, fund management and other related financial services.

In common with most other advanced industrialised economies, Scotland has seen a decline in the importance of the manufacturing industries and primary-based extractive industries. This has, however, been combined with a rise in the service sector of the economy which is now the largest sector in Scotland, with significant rates of growth over the last decade.

Scotland (Scottish Gaelic: Alba ([ˈalˠ̪apə]  listen (help·info))) is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the southwest. In addition to the mainland, Scotland constitutes over 790 islands including the Northern Isles and the Hebrides.

Edinburgh, the country's capital and second largest city, is one of Europe's largest financial centres. Edinburgh was the hub of the Scottish Enlightenment of the 18th century, which transformed Scotland into one of the commercial, intellectual and industrial powerhouses of Europe. Glasgow, Scotland's largest city, was once one of the world's leading industrial cities and now lies at the centre of the Greater Glasgow conurbation. Scottish waters consist of a large sector of the North Atlantic and the North Sea, containing the largest oil reserves in the European Union. This has given Aberdeen, the third largest city in Scotland, the title of Europe's oil capital.

George Gideon Oliver Osborne,MP (born 23 May 1971 in Paddington, London) is a British Conservative politician. He is the Chancellor of the Exchequer of the United Kingdom, a role to which he was appointed in May 2010, and has been the Member of Parliament for Tatton since 2001.

Osborne is part of the old Anglo-Irish aristocracy, known in Ireland as the Ascendancy. He is the heir to the Osborne baronetcy (of Ballentaylor, in County Tipperary, and Ballylemon, in County Waterford).

He was educated at St Paul's School and Magdalen College, University of Oxford, before entering politics.

Osborne is the eldest of four sons. His father, Sir Peter Osborne, 17th Baronet, co-founded the firm of fabric and wallpapers designers Osborne & Little. His mother is Felicity Alexandra Loxton-Peacock, the daughter of artist Lady Clarisse Loxton Peacock.

Originally named Gideon Oliver, he changed his name to George when he was 13. In an interview in July 2005, Osborne said: "It was my small act of rebellion. I never liked it. When I finally told my mother she said, 'Nor do I'. So I decided to be George after my grandfather, who was a war hero. Life was easier as a George; it was a straightforward name."

Alexander Elliot Anderson Salmond ( /ˈsæmənd/; born 31 December 1954) is a Scottish politician and current First Minister of Scotland. He became Scotland's fourth First Minister in May 2007. He is the Leader of the Scottish National Party (SNP), having served as Member of the Scottish Parliament (MSP) for Gordon. From 1987 to 2010 he served as Member of Parliament for Banff and Buchan in the UK House of Commons. Salmond previously held the position of leader of the SNP from September 1990 until he stepped down in September 2000.

Originally from Linlithgow, West Lothian, Salmond is a graduate of the University of St Andrews, where he achieved a Joint Honours MA in Economics and History. After earning his degree he began his career in the Government Economic Service (GES), and later joined the Royal Bank of Scotland as an energy economist where he wrote and broadcast extensively for both domestic and international media outlets.

Following the establishment of the devolved Scottish Parliament in 1999, he was elected MSP for Banff and Buchan, thus simultaneously representing the area as both Member of Parliament (MP) and MSP. Salmond resigned as SNP leader in 2000 and did not seek re-election to the Scottish Parliament. He did however retain his Westminster seat in the 2001 general election. Salmond was once again elected SNP leader in 2004 and the following year held his Banff and Buchan seat in the 2005 general election. In 2006 he announced his intention to contest the Gordon constituency in the 2007 Scottish Parliament election, an election in which Salmond defeated the incumbent MSP and in which nationally, the SNP emerged as the largest single party. Salmond was voted First Minister by the Scottish Parliament on 16 May 2007.

Nicola Sturgeon (born 19 July 1970) is the Deputy First Minister of Scotland, Cabinet Secretary for Health, Wellbeing and Cities Strategy, Depute Leader of the Scottish National Party (SNP) and Member (MSP) for Glasgow Southside.

Nicola Sturgeon became an MSP in the first elections to the Scottish Parliament in 1999, becoming the SNP's spokeswoman on justice, and later on education and health. In 2004, she announced that she would stand as a candidate for the leadership of the SNP following the resignation of John Swinney. However, she later withdrew from the contest in favour of Alex Salmond, but stood as Depute Leader on a joint ticket with Salmond. Both were subsequently elected and Sturgeon led the SNP in the Scottish Parliament from 2004–2007 until Salmond was elected back to the Scottish Parliament in the 2007 election.

The SNP won the highest number of seats in the Scottish Parliament following the 2007 election and Salmond was subsequently appointed First Minister of Scotland. He appointed Sturgeon his Deputy First Minister and Cabinet Secretary for Health and Wellbeing.