The Scottish Government has welcomed the news that the Scottish Futures Trust (SFT) has saved the Scottish public sector £500m since its establishment in 2008.

Its savings for 2012/13 was a total of £132m – an equivalent of more than £525,000 each working day.

The SFT, which has been tasked with improving value for money from public-sector infrastructure – published its annual benefits statement on Tuesday.

The independently-verified report also highlights that the organisation has met its financial target to release savings of between £100m and £150m per year for the fourth consecutive year.

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Discussing the report, Deputy First Minister and Cabinet Secretary for Infrastructure and Capital Investment, Nicola 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."

(JP/CD)