Magazine article Public Finance

Scotland Reorganises Capital Spending to Boost Economy

Magazine article Public Finance

Scotland Reorganises Capital Spending to Boost Economy

Article excerpt

The Scottish Government Is reshaping its capital investment programme to boost the economy, Finance Secretary John Swinney has told an influential committee of MSPs.

At a meeting of the Parliament's finance committee this week In Ayr, he outlined a series of Initiatives and did not rule out switching revenue spending to capital.

Questioned about the possibility of such a transfer, Swinney said: 'Without the contributions from increasing budgets from the UK government, revenue pressures on budgets are now a great deal more Intense. If opportunities arise to convert revenue into capital, the [Scottish] Government will certainly take them.'

Swinney said action to bring forward £100m of expenditure on affordable housing was evidence that ministers recognised the economic benefit that could be gained from accelerating the capital investment programme. …

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