John Swinney announces £105m capital investment drive
June 27 2012
The programme covers a broad range of sectors including renewables, tourism, transport and housing.
Specific beneficiaries of the accelerated timetable include Inverness Campus, improvements to the A75 Hardgrove to Kinmount route and regeneration projects in Rutherglen, Bridgeton, Forres and Inverclyde.
Each of these has been described as ‘shovel ready’, meaning the positive benefits of construction could feed through rapidly.
Swinney said: “While these projects will support and stimulate economic growth, they will also deliver on a range of wider objectives such as environmental and health improvement, housing, greener transport, maintenance of our health estate, and culture and tourism.
“We are also focusing our support on local economies and investment in key geographical areas.”
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It’s debatable as to how efficient and effective that increased spend on infrastructure will achieve that aim rather than similar spend on other more-immediately impacting activities. Increased spend on major infrastructure seems to have been promoted by large corporate interest on the dubious premise that it is a recession recovery punt. There is no robust and widely accepted evidence from modern economic history that it is any such thing.
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