SFT unveils £500 million savings

Published on Tuesday, 13 August 2013 15:19
Written by Vicki Mitchem

Deputy First Minister and Cabinet Secretary for Infrastructure and Capital Investment Nicola Sturgeon today welcomed news that the Scottish Futures Trust (SFT) has saved the Scottish public sector £500 million since it was established in 2008.

Savings for 2012/2013 total £132 million – equivalent to more than £525,000 each working day.

The SFT, tasked with improving value for money from our public-sector infrastructure, today published its annual benefits statement.

The independently verified report illustrates that SFT has met its financial target to release savings of between £100m and £150m per annum for the fourth year in a row.

Ms Sturgeon said:

"The savings SFT achieved last year, in collaboration with a wide range of public sector bodies, allow us to deliver more houses and schools and more health and community projects. The benefits of these savings to the economy are significant – every additional £100m of investment supports 1400 jobs in the Scottish economy.

"The Scottish Government is doing all it can to maximise investment into infrastructure projects across Scotland.

"But while we are doing what we can, there is no question that cuts imposed on us by Westminster are impeding our efforts to support infrastructure investment and jobs.

"That is why the work of SFT and the savings it delivers across the public sector is vital not only for giving taxpayers a good deal but also in order to provide more high quality infrastructure across Scotland that will benefit generations to come.''

Source: Scottish Government

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