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£250 million could be invested in Scottish economy

October 31, 2011 4:49 PM
Originally published by Scottish Liberal Democrats

Deputy Prime Minister Nick Clegg has announced that local economies in England are to benefit from £950 million of UK Government investment.

Willie Rennie MSPWillie Rennie MSPScottish Liberal Democrats have identified £1.5 billion locked in Scottish Water, £250million of which could be used to invest in local economies across Scotland.

The SNP Government have so far turned a blind eye to this potential investment but Willie Rennie is urging the SNP to think again.

Commenting, Mr Rennie said:

"This is a huge investment by the UK Government in regional economies. The Scottish Government needs to explain why it is not acting in a bold way like this.

"Scottish Liberal Democrats have identified the resources locked in Scottish Water that could be used to benefit regional economies.

"The Scottish Government needs to take last week's advice from the Royal Society of Edinburgh seriously and open up their closed minds on parts of its Budget and the choices they are making.

"By using the resources locked in Scottish Water we could provide £250 million for developing regional economies. That money could be used to invest in infrastructure to support business, and would be a way of bringing the public and private sectors together for the benefit of the economy.

"While the UK Government is getting on with these projects, our Scottish Government is busy removing £250 million from the Transport Infrastructure budget to spend in other departments.

"The Scottish Government should focus on getting real results like this by unlocking the Scottish Water potential instead of choosing to focus on their discredited Plan MacB."