Extra cash will be pumped into capital spending by extending the Scottish Government’s non-profit distributing funding method.
An extra £1bn is to be invested in Scottish housing, hospital, school and transport projects, finance secretary John Swinney announced today.
Extra cash will be pumped into capital spending by extending the Scottish Government’s non-profit distributing funding method.
He said: “We will develop plans to extend our current programme of NPD with an additional £1bn investment taking us through to 2019 – 20.
“This investment will build on the successes of the current programme, delivering colleges, schools, roads, hospitals and community health facilities across Scotland. It will also provide the construction sector with the long term certainty of a future pipeline of work.
“We know that every additional £100m of construction activity is estimated to support over 1,300 jobs. And then we get the long term benefits of using the asset.
Swinney announced the expansion in capital spending through his preferred private finance model, in addition to saying how he would spend the £67m windfall from the UK Budget announcements by George Osborne.
Swinney announced the expansion in capital spending through his preferred private finance model, in addition to saying how he would spend the £67m windfall from the UK Budget announcements by George Osborne.
Half of this will be invested over the next two years to help provide the infrastructure needed for an expansion of childcare. And £10m will be used to extend Help to Buy in Scotland.