The UK Government's Spending Review, unveiled on Wednesday 11 June, is set to inject billions of pounds into Scotland, aiming to create thousands of high-skilled jobs and solidify the nation's position as a leader in the clean energy revolution.

The Scottish Government will receive a record real-terms settlement, with an additional £9.1 billion over the Spending Review period (Phase 2), delivered through the Barnett formula. This uplift means an average of £50.9bn per year between 2026-27 and 2028-29 for Scottish public services, including the NHS, police, housing, and schools.

Significant investments announced include:

• Clean Energy: £8.3bn in funding for GB Energy-Nuclear and GB Energy, with a presence in Aberdeen. Increased development funding has also been confirmed for the Acorn Carbon Capture, Usage and Storage project. Additionally, £25m has been allocated to the Inverness and Cromarty Firth Freeport, alongside funding for hydrogen production projects at Cromarty and Whitelee.

• Defence: An initial £250m investment over three years will kickstart the 'Clyde 2070' programme, a multi-decade, multi-billion pound redevelopment of HM Naval Base Clyde, securing the long-term future of the facility. The government also reaffirmed its commitment to increase defence spending to 2.6% of GDP by April 2027.

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• Innovation and R&D: Scotland will host the UK’s largest and most powerful supercomputer, with up to £750m committed to its development at Edinburgh University. This facility will grant UK scientists access to extraordinary computing power, strengthening Scotland's research capabilities. Scotland will also benefit from a share of increased UK-wide R&D spending, rising to over £22.6 billion per year by 2029-30, and a £410m UK-wide Local Innovation Partnerships Fund.

• Community and Business Support: £160m over 10 years has been allocated for Investment Zones in the North East of Scotland and the Glasgow City Region. Furthermore, £452m over four years is confirmed for City and Growth Deals across Scotland. A £100m joint investment (split equally between UK and Scottish Governments) will back the Falkirk and Grangemouth Growth deal, demonstrating commitment to the Grangemouth industrial area. The National Wealth Fund is also trialling a Strategic Partnership with Glasgow City Region, having already made a £43.5m direct equity investment in a sustainable packaging company near Glasgow. The British Business Bank's Nations and Regions Investment programme will deliver £150m across Scotland to improve access to finance.

Secretary of State for Scotland, Ian Murray, commented: "Putting more money in the pockets of working Scots by investing in the country’s renewal is at the heart of this Spending Review and our Plan for Change. The Chancellor has unleashed a new era of growth for Scotland, confirming billions of pounds of investment in clean energy - including new development funding for Acorn - creating thousands of high-skilled jobs." He added that the Scotland Office would work with local partners to ensure targeted support benefits Scottish communities and businesses.

The "Brand Scotland" programme will continue to receive £0.75m annually to promote inward investment and boost Scottish exports globally, maximising the benefits of recent trade deals with India, the US, and the EU.

The UK Government asserts that this "historic Spending Review for Scotland... chooses investment over decline and delivers on the promise that there would be no return to austerity," made possible by "tough but necessary decisions taken in the October Budget."