Scotland's Economy

This week – 10/08/18

August 11, 2018 by taylorscott No Comments | Category Business, Economy, Energy

Edinburgh and South East Scotland City Region Deal

This week First Minister Nicola Sturgeon formally signed off the Scottish Government’s investment in the ambitious Edinburgh and South East Scotland City Region Deal.

The £1.3 billion deal will deliver inclusive economic growth across the region through housing, innovation, transport, skills and culture. The Scottish Government and the UK Government will each invest £300 million over the next 15 years.

The Scottish Government’s investment will contribute towards 41,000 new homes, 21,000 jobs and improve the skills of an estimated 14,700 people.

First Minister Nicola Sturgeon said:

“The Scottish Government’s £300 million investment in the City Region Deal will contribute towards 41,000 new homes, 21,000 jobs and improve the skills of an estimated 14,700 people across the region. Our investments will ensure businesses and communities from across the region benefit from the opportunities created by this the city region deal.

“Taken together these projects will help the region continue to thrive and grow, fulfilling our ambitions for the region to be one of the fairest and most inclusive areas in the country.”

Supporting Scotland’s Steel Sector

Finance and Economy Secretary Derek Mackay visited Liberty Steel Dalzell in Motherwell this week, a plant making a strong comeback after a year’s shutdown. The Scottish Government is committed to ensuring our steel sector has a sustainable future, building on the long and proud heritage of steelwork in Scotland.

Gordon MacRae, managing director of Liberty Steel Dalzell, said:

“With the skill and determination of the workforce at Dalzell, we have begun to make real inroads into the market, we’ve already reclaiming lost market share and we have big ambitions for future growth, not only at home but in key export markets also.”

Cabinet Secretary Derek Mackay said:

“The Scottish Government are committed to ensuring our steel sector has a sustainable future, building on the long and proud heritage of steelwork in Scotland. We will do as much as we can to increase the industry’s ability to compete in global markets, which will help bring new opportunities to Scotland’s economy.”

Decomissioning Fund

During a visit to Aberdeen to meet the new CEOs of Decom North Sea and Aberdeen Harbour, John Warrender and Michelle Handforth, Energy Minister Paul Wheelhouse announced that an additional £5 million has been made available to the supply chain in Scotland to help maximise the economic benefit from the decommissioning of North Sea infrastructure.

Following grant awards of £4.8 million in 2017, the Decomissioning Challenge Fund 3 will continue to support infrastructure upgrades at Scotland’s ports, innovation in retrieval and transport approaches, as well as supply chain projects that will strengthen Scottish decommissioning capabilities and capacities. It can also support engineering scoping work, feasibility studies and business development at key sites to help to attract further private investment.

Mr Wheelhouse said:

“I’m delighted that we can offer a third round of funding for decommissioning projects. This round of the DCF includes capital and resource funding, and widens its scope of potential projects with support now also available for business development.”

Tags: business, economic growth, economy, energy

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