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12/09/2012

Finance Minister Pledges To Aid Construction Industry In New Budget

Ahead of the new Budget next week, finance secretary John Swinney has pledged, in an effort to kickstart growth, to pump fresh cash into the ailing construction sector.

As Scotland recently followed the UK into a double dip recession the cabinet secretary says his spending plans for 2012-13 will be focused on reviving the flat economy.

The move coincides with the publication of a report on the Government Economic Strategy (GES), which sets out action to assist capital investment and address youth unemployment.

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Mr Swinney said: “As I prepare our Budget for growth, I am actively exploring what more this government can do to boost jobs and growth in the construction industry.”

In June the government announced a £105 million package of economic stimulus and has already set out four new Enterprise Areas to encourage growth.

Scottish Building Federation chief executive Michael Levack said 50,000 construction related jobs had gone since 2007, adding: “Ministers should be in no doubt about the severity of the situation Scottish construction firms face.”

(H)

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