Economy
Lossiemouth is heavily dependent on the Royal Air Force station for its employment of civilians. In 2005, RAF Lossiemouth along with its neighbour RAF Kinloss contributed £156.5 million (including civilian expenditure) to the Moray economy, of which £76.6 million was retained and spent locally. The bases are responsible for providing, directly or indirectly, 21 per cent of all employment in the area.
Before the RAF, fishing was almost the sole industrialised process in Lossiemouth but now contributes very little to the overall economy; in 2001, fishing accounted for 1.62% (55 individuals) of the full-time employment of Lossiemouth. However, some engineering businesses once associated with fishing still exist in the town. Unlike other sizable towns in the area, Lossiemouth has not attracted the large supermarket groups due to its proximity to Elgin which also provides employment to a significant proportion of the working population.
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Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)