Audit Scotland's review of major capital projects vindicates the Government's decision to establish the Scottish Futures Trust (SFT) which aims to deliver vital infrastructure projects at better value for taxpayers' money, Finance Secretary John Swinney said today.

The report - How Scotland works: Review of major capital projects in Scotland - suggests that 'a more strategic approach to managing the programme of capital projects could improve value for money'.

Mr Swinney said: "The Audit Scotland report highlights the importance of efficient and effective planning of our capital investment programme of some £35 billion over the next 10 years. The Government believes that this is essential, which is why we are establishing the SFT.

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"We already know from the work done on the SFT business case that a new organisation with a remit across the public sector can support the delivery of the vital infrastructure we need at better value for taxpayers. Today's report shows that to be the case and when the Futures Trust company is set up this summer it will begin delivering exactly that - releasing up to £150 million a year for increased investment.

According to Mr Swinney the SFT will enable greater partnership, improved preparation and handling of projects, and better value finance - an approach that Audit Scotland's report endorses. "Where private finance is involved all of this will be achieved while stripping out the excessive profits of the outdated and discredited PFI and replacing it with the non-profit distributing model," Mr Swinney commented.

"The Audit Scotland report is based on a timely review of projects started under the previous administration. We welcome the useful contribution it makes to the important issue of the planning and delivery of infrastructure investment and we will study it closely."

The Finance Secretary concluded that investing in vital infrastructure such as our transport network, our hospitals and our schools will be "absolutely central" to achieving the governments goal of increased sustainable economic growth.

(GK/JM)