In a commentary on The Herald published October 1, 2006, Jeremy Peat warned that the UK government was overlooking the growth potential of Britain's creative industries. The former chief economist of the Royal Bank of Scotland and current head of the David Hume Institute said the Scottish growth rate for the creative industries was staggering, with GVA up threefold in basic prices since 1998 and more attention should be paid to this remarkable success story.

Peat said that growth in the sector will continue to outstrip that of the total economy, not just domestically but globally, in the years ahead. As the extent of "discretionary" spend increases for more consumers across the globe, so demand from a variety of components of this sector will expand apace. He also stated that this is a sector where Scotland can and should be internationally competitive on a sustainable basis – because it will be quality and innovation that count.  Unlike many traditional fields in manufacturing, this is not a bulk-standard sector where the low labour cost producers can work their market-share miracles.