£100m infrastructure stimulus projects unveiled
First Minister Nicola Sturgeon has unveiled the sixteen projects that will benefit from the infrastructure stimulus package to support the economy following the EU referendum result.
First mooted last month, the projects will support and create employment and are being brought forward as part of a £100 million capital investment package.
They include a £20m investment in energy saving measures for homes and public sector buildings, £33m to upgrade and maintain the further and higher education estate and £10m will go towards local economic development projects across the country.
The announcement was made as part of the Scottish Government’s Programme for Government which was delivered MSPs at Holyrood yesterday.
Each project has been assessed against a range of criteria including how quickly work can start, the number of jobs that will be supported or created, the likely impact on the supply chain and geographic spread.
As well as the initial £5m for the Golden Jubilee Hospital to bring expansion of its elective centre forward from 2018-19 to this year, the following projects have been selected because of the early benefits they offer to the Scottish economy:
Economy secretary Keith Brown said: “This government acted quickly following the EU referendum to bring forward a substantial stimulus package to boost business confidence and keep our economy moving.
“Last month, the First Minister announced that a £100m will be injected into our capital spending plans, providing a significant boost to the £6 billion worth of projects already under construction.
“This spending will deliver a stimulus for our economy, helping to retain skills and activity in key sectors as well as creating public assets that will have long-lasting economic, social and environmental benefits.
“From investing £20m in energy efficiency measures to make our homes and public sector buildings cheaper to run, to £10m for local economic development, these projects will help to boost our economy and provide a real benefit to people across the country.
The First Minister also confirmed that European Structural Funds projects with a total value of £290m have now been approved. With partner funding this means investment of £650m in communities and businesses.
Mr Brown added: “European Structural Funds support important economic, employment and social priorities, helping to grow our economy. Alongside our efforts to maintain a relationship with the EU we have been working to speed up approval processes to ensure that money reaches businesses, communities and individuals where it is most needed. With £290m of Structural Funds projects now approved, reaching £650m with partner funding, we are investing in Scotland’s people, communities and businesses.
“These steps form part of our efforts to support the economy in the wake of the EU referendum result and to equip Scotland’s economy for the challenges ahead. On top of this, we have called on the UK government to follow our lead and bring forward a similar capital investment package at the earliest opportunity, allowing us to do even more in Scotland to support our businesses.”