Delivering investment needed for our future

THE 2018-19 Scottish Budget is good for taxpayers, business and Scotland’s future.

It protects the NHS and public sector, supports low earners, accelerates economic growth and protects households from the worst effects of the Brexit uncertainty and continued austerity from Westminster.

Indeed, that austerity means that by the end of this decade, Scotland’s block grant will be £2.6billion lower in real terms than it was at the beginning.

Our spending plans increase funding for the health service by more than £400million and provides £120million directly to headteachers to help ensure all young people fulfil their potential.

This Budget protects local government day-to-day funding, delivering a finance settlement worth more than £10.5billion. And it lifts the public sector pay cap.

We are backing growth and innovation to create the new employment opportunities that our economy needs to thrive by reforming business rates – making Scotland the most attractive part of the UK to do business in – and by maintaining the Small Business Bonus.

We are boosting innovation by increasing investment in research and development by 70 per cent, supporting new carbon technologies, funding a £150million Building Scotland Fund and supporting Scotland’s National Manufacturing Institute.

Our £4billion commitment to new infrastructure investment next year will support 50,000 new homes, new roads and railways, electric vehicles and the delivery of 100 per cent superfast broadband.

We are only able to protect public services, support our economy and tackle inequality due to the progressive changes we have made to income tax.

Our new, fairer tax policy will ensure the 70 per cent of taxpayers who earn less than £33,000 will pay less tax next year, while asking those earning more than that to pay a proportionate amount more to support our public services.

This is a Budget that delivers for the people of Scotland – a Budget for our future.