2012
09/22

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Finance

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Scots Finance Secretary John Swinney Promises A Budget For Jobs

Scotlands Finance Secretary John Swinney has pledged that next weeks budget will probably be one dedicated to boosting our economy.

He said having been actively exploring the particular government could do to create jobs and grow the development sector.

Mr Swinney made his promise as the latest Government Economic Strategy (GES) report was published.

The SNP minister said the document demonstrated that the federal government was continuing to provide its priorities.

Mr Swinney said: Next weeks budget will build on the foundations for long-term economic prosperity that individuals set out in 2007 and focuses our actions on six strategic priorities which will accelerate recovery, drive sustainable growth and develop a more resilient and adaptable economy.

Retaining Scotlands position as the most supportive environment for business in the UK is vital in making sure our ambitious, innovative companies can thrive and capitalise on opportunities in new international growth markets.

The six priority areas set out are;

  • capital investment
  • digital infrastructure
  • addressing youth unemployment
  • procurement
  • renewables
  • and support for business.

The economic strategy report explained economic conditions remained challenging and this uncertainty inside the eurozone had acted like a fatigue confidence.

It added that Scotland had not been immune to the people pressures and the recovery which began in 2009 remains fragile.

Against that backdrop, the report said the governments immediate priorities remained boosting public sector capital investment; tackling unemployment and inspiring private sector investment.

Could do more

Before outlining the details of his 2012/13 budget, Mr Swinney said: Our actions to boost growth will include a tax relief package worth over £500m this year and bringing forward a further £105m package of economic stimulus.

We are doing all we can within our current powers to excercise our economy but it is obvious that with the full fiscal and economic powers of independence, the Scottish government could do a lot more to reinforce our economy.

More and more successful business leaders and wealth creators recognise that through independence, we can best determine produce the best environment for economic success and deliver a more prosperous and fairer Scotland.

Scottish Conservative housing spokesman Alex Johnstone said he hoped Mr Swinney meant what he said about boosting construction.

Mr Johnstone added: But if this boost is just according to large public works, that alone is not going to take the step-change the requires.

The things we do need is private housebuilders constructing homes again and our key industries investing for future years in developing their properties and facilities.

That will only result from a Scottish government that provides real confidence within the long-term, and doesnt simply depend on big public contracts.

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