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Old Town Chambers expanded to become the biggest collection of five-star serviced apartments in EdinburghMonday, 18 May 2015
Commenting on the publication today (17th November) of the draft Scottish budget for 2011-12, Scottish Building Federation Chief Executive Michael Levack said:
“Heading into today’s announcement, the settlement from last month’s UK spending review suggested that the capital heading of the Scottish budget would have to bear the entire burden of a £900 million cut in public spending next year.
“In this context, John Swinney’s announcement that £100 million will be transferred to the capital heading of the budget is clearly very welcome news for the construction industry. But the burden of these cuts on capital spending is still a heavy one.
“I listened with particular interest to Mr Swinney’s proposal to establish a new £2.5 billion programme of revenue financed investment for construction projects. We now need to see the detail of how this programme will be implemented on the ground.”
Mr Levack concluded:
“Overall, there’s no escaping the fact that we face a prolonged period of trying to achieve more with much less.
“Over the coming weeks, I hope that MSPs will work together to prioritise additional funding for affordable housing and to maximise investment in the School Building Programme. These categories of expenditure should be our overriding priority if we are to accelerate the path to economic recovery.”
Notes to Editors
1. Founded in 1895, the Scottish Building Federation (SBF) is the lead voice of the construction industry in Scotland, an industry which is the largest source of private investment north of the border and contributes around £10 billion (c.10%) to Scotland's GDP. The overall aim of the organisation is to ensure that the important contribution of the Scottish construction industry to Scotland's economy and society is recognised and valued, which it does through working with industry, government and the media, and that industry standards are raised.
2. The SBF promotes the interests of the construction industry to a diverse range of stakeholders and is the leading employers' federation for the industry, representing over 700 companies from Orkney to the Borders.
3. The SBF provides an exclusive range of invaluable support services to a wide range of member companies, whether these are small single trade firms or major regional and national contractors. The shared objective that all members have in common is their commitment to health and safety, skills and integrity, ensuring the delivery of the highest standards of performance, professionalism and quality within the industry in Scotland.
4. For more information, please contact: Alex Bruce on 0131 554 7988
17th November 2010