News

Driving Scotland’s recovery

Published: 24 Jan 2021 00:01
Part of:
Economy

Budget prioritises sustainable economic revival.

Measures promoting recovery and renewal will be at the heart of the Scottish Budget this week.

New initiatives to drive economic growth, create jobs and tackle inequality will be included alongside further support for business, public services and families.

Finance Secretary Kate Forbes said:

“The budget on Thursday will create the conditions for Scotland to recover and renew.

“We remain in the grip of a pandemic which continues to put pressure on our economy, health services and each of us as individuals. But the vaccine is providing a route back to normality and we must now sharpen our focus on rebuilding for the future.

“The budget will include innovative, targeted measures to help businesses and families get back on their feet and bolster our vital public services. I have already ruled out following the UK Government’s public sector pay freeze and will set out details of a pay settlement that is both fair and affordable.

“It is vital that we rebuild our economy in a way that provides equal opportunities for all, delivers on our green commitments and creates the kind of Scotland we all want to see.

“This process has already started. For instance we have established a National Transition Training Fund providing targeted support for up to 10,000 people, set out our £60 million Young Person’s Guarantee and committed £2 billion in low carbon funding. The budget will set out how we intend to further these ambitions.

“Ahead of the budget we sought views on the role of Scotland’s devolved taxes and our fiscal framework in supporting the recovery. There was clear feedback regarding the need for stability and targeted support and that has also been a particularly strong message in my meetings with businesses and their representative organisations. The budget will deliver on those priorities

“Despite the UK Government’s budget being delayed until March, and the uncertainty that causes, the Scottish Budget 2021-22 will confirm funding allocations for local government. It will also detail how, within our limited resources, we will go as far as we can to support businesses in receipt of non-domestic rates relief.

“The global pandemic and the problems arising from Brexit combine to make these uniquely challenging times. This budget will help Scotland emerge as a globally competitive, fairer and greener country and I urge all parties to work in the national interest to ensure it is passed by the Scottish Parliament.”