Build Scotland Construction Directory
Time and date
CONSTRUCTION DIRECTORY
Share this page
Construction News
17/04/2009

Unspent Fossil Fuel Levy

Finance Secretary John Swinney yesterday renewed Scotland's claim to £150m of unspent Fossil Fuel Levy.

Giving the David Hume Institute lecture, Mr Swinney emphasised the need to allocate every pound of available public money to support Scottish economic recovery.

Speaking on 'Scotland's financial future' Mr Swinney will expand on the text of a letter to Chancellor Alistair Darling calling for bold targeted measures to be taken at next week's budget.

He said: "I have written to the Chancellor urging him to take bold targeted measures at the Budget. We want him to take the steps that will enable us to provide a boost to the Scottish economy and support employment and output at this critical time.

-- Advertisement --
NorthernAsbestosServicesLtd

"I have also urged the Chancellor to make available to the Scottish Government, Scotland's resources from the Fossil Fuel Fund. This fund currently stands at £150m and is intended to support investment in renewable energy but is locked in a Treasury bank account."

Mr Darling said such investment would provide a vital boost to the Scottish economy at this time. However, under current HM Treasury rules the Scottish Government is unable to access these funds without detriment to other spending across the wider Scottish Block.

"At a time when the UK Government is borrowing billions, it is right that we should be able to make full use of Scotland's resources. Freeing up these millions would deliver a huge boost to our renewables sector," he said.

Fossil Fuel Levy funds are not available to the Scottish Government as spending in addition to existing budgets.

(GK/JM)

Latest Construction News

01/05/2024

GRAHAM has announced the start of construction work on a new £59m low-carbon development in Edinburgh which combines student flats, build-to-rent and affordable homes. The Burnet Point scheme in Abbey Lane is the first-ever mixed-use residential development of its kind by Unite Students, one of ...
01/05/2024

A groundbreaking ceremony has marked the start of the next major phase of works on the replacement development at Liberton High School. Contractor Balfour Beatty welcomed Head Teacher Alison Humphreys, current high school and primary school pupils who will be educated at the new school, and ...
01/05/2024

Scottish housebuilder, Springfield Properties, has signed a new £10 million contract to deliver affordable housing for Moray Council. The Group will receive funds from the sale of the land to Moray Council in the current financial year and the design and build phase, which accounts for the vast ...
01/05/2024

Consulting and engineering firm, Wood, has been awarded a new decarbonisation contract by TotalEnergies (TEPUK) to support flare gas recovery in the North Sea. The 23-month contract, part of the Elgin-Franklin Flare Gas Recovery System Project, follows Wood's successful completion of a field study ...
01/05/2024

The CCG Group has welcomed the news that they have received seven nominations across six categories at this year's Scottish Home Awards. The Scottish Home Awards is one of the most prestigious in the Scottish housing sector and are set to take place at a glitzy award ceremony on the 13th of ...
01/05/2024

SSEN Distribution has announced month-long programme of infrastructure upgrade works at Loch Ness, to improve the reliability of supplies to over 1,300 homes and businesses, as well as boosting network capacity. The project starts on 2 May and is scheduled to finish by the end of the month. Teams ...
01/05/2024

SSEN Transmission has announced the successful completion of the final phase of the new Port Ann to Crossaig electricity transmission line, after almost three years of construction. Supported on 148 new steel-lattice towers, the new line is designed to be more resilient in extreme weather events, ...
01/05/2024

National Manufacturing Institute Scotland (NMIS) has been announced as a double winner at this year's British Council of Offices (BCO) Regional Awards for Scotland. The project – developed by Morrison Construction on behalf of University of Strathclyde – was successful in the Corporate Workplace ...
01/05/2024

Perth & Kinross Council has announced that a restoration project on Crieff's 130-year-old Murray Fountain will get underway this month, The improvement project, which was announced last year, will see the James Square landmark's masonry repaired and repointed, as well as electrical works to ...
01/05/2024

The Scottish Government has launched a public consultation on proposals to replacing the UK Government's Industrial Injuries Scheme in Scotland. Views are sought on how the Scottish Government's planned Employment Injury Assistance should be delivered and on the next steps for introducing this ...
Morris & Spottiswood LtdRBT Underfloor LimitedMaterials Market LtdToner Damp Proofing SuppliesNo HydroBurnside Plant Hire LtdKattrak International Hidromek SalesRBT Underfloor LimitedScotdeck LtdThe Big Block Co Ltd
Terms and Conditions
2024/05/02 02:12:17