Question reference: S5W-31994
- Asked by: Tom Arthur, MSP for Renfrewshire South, Scottish National Party
- Date lodged: 23 September 2020
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Current status: Initiated by the Scottish Government. Answered by Kate Forbes on 24 September 2020
Question
To ask the Scottish Government when it plans to publish information on multi-year capital budgets, and provide further clarity on future levels of public sector investment.
Answer
A Capital Spending Review Framework document will be published on the Scottish Government website today and is available here: https://www.gov.scot/isbn/9781800040946
The Framework provides the basis for publishing a full Capital Spending Review later this year, which will set out multi-year capital budget allocations for the Scottish Government, and other public sector bodies. This Framework document supports transparency about the fiscal context and the financial assumptions which underpin the draft Infrastructure Investment Plan, while also setting out the parameters and priorities that will inform the budget allocations that will be made once the Capital budget outcomes of the UK Comprehensive Spending Review are known. It covers the 5 financial years of the next Parliamentary term, and sets out now how we have a full and realistic plan for around £33.5 billion of investment to deliver the ambitious National Infrastructure Mission.
Providing clarity on future capital spending plans will aid our response to the economic fallout from the COVID-19 pandemic, giving confidence to key sectors of the Scottish economy. Our capital spending will support employment and economic recovery through our large-scale infrastructure plans, while also moving us along the path to net-zero carbon emissions, and underpinning the provision of quality public services on into the future. We will support economic growth by investing directly in businesses to boost innovation and employment, funding research and development, and capitalising the Scottish National Investment Bank.