£1.5bn more pledged to transport and broadband in bid to boost productivity

THE Finance Secretary yesterday pledged an additional £1.5billion a year to help boost broadband and transport links.

Derek Mackay said that the Scottish Government would increase capital investment by that amount from next year until 2021.

This will see £5billion spent on a series of infrastructure projects next year, including the continued roll-out of superfast broadband and investment in nurseries.

The SNP’s Budget shows that £1.7billion will be spent on transport, with more than £825million committed to housing.

It also pledges £180million to the city and region deals, jointly funded by the UK Government, with £175million for nurseries as the SNP increases free childcare.

Mr Mackay said: ‘Our investments will provide the foundation for companies to bring new economic opportunities across Scotland.’

He also pushed ahead with plans for a Scottish National Investment Bank, with this Budget providing £130million to the scheme.

Mr Mackay added: ‘Investment in people is crucial. Creating meaningful employment is the best social policy.

‘We also know greater investment in infrastructure improves quality of life and makes our country a more attractive place to do business. That is why this Government will increase capital investment by £1.56billion a year by the end of the next parliament.’