Strong performance in infrastructure programmes delivers economic benefits worth billions
The Scottish Futures Trust (SFT) has published its 7th annual review. The results, in its six main work areas, demonstrate SFT’s strong performance in public infrastructure. Key examples include:
SFT home – secured 3,000 affordable-rent homes valued at over £300 million, through National Housing Trust partnerships and initiating the Local Affordable Rent (LAR) charity
SFT invest – unlocked £1 billion of economic investment, through leading Growth Accelerator and Tax Incremental Financing projects with local authorities across Scotland
SFT build – supported over 7,000 jobs, through delivery of schools, health centres and other public buildings under construction through the hub programme
SFT green – enabled 2.6 million tonnes of CO2 savings, through £337 million of planned investment in LED street lighting following publication of SFT’s Street Lighting Toolkit
SFT place – saved the equivalent of eight football pitches of office space, by working with public sector partners to rationalise office space and adopt new flexible ways of working
SFT connect – established £13 billion GDP benefit potential, by developing the roadmap and vision of Scotland becoming a world-class digital player
In delivering these and other programmes, SFT estimates that it has delivered £146 million savings and benefits over the past 12 months, as independently validated by The London School of Economics and accountancy firm Grant Thornton. SFT is on course to reach the corporate objective of securing £500 - £750 million of savings during the five-year corporate plan period, ending in March 2019.
Nine short videos, illustrating the positive impacts of SFT's work can be viewed here.
Sir Angus Grossart, SFT’s chairman explained: “SFT’s strength lies in our ability to deliver, by taking informed decisions and challenging inertia. Central to our performance are the continuing strong strategic partnerships which we achieved across the public sector.”
SFT chief executive, Barry White, stated: “We have secured the construction of 3,000 affordable-rent homes with 1,260 homes now occupied; we have pushed the value of first-class community facilities under construction through our hub programme to over £1bn which is supporting over 7,000 jobs and we have unlocked over £1bn of economic investment into Edinburgh and Dundee city centres though our Growth Accelerator programme.
“The economic and social impact of our work means we are securing employment, attracting investment and saving energy. These are just some of the many positive and tangible benefits SFT’s programmes of work are having across Scotland.
“By the end of this financial year, 20 more new schools will be open for pupils and local communities to use and enjoy and construction will have started on a further eight; 120,000 more energy efficient LED street lamps will have been installed and 200 more affordable-rent homes will be built and occupied.”