Scottish Futures Trust’s infrastructure work adds ‘billions’ to economy

SFT positive impactsPublic infrastructure programmes undertaken by the Scottish Futures Trust (SFT) have delivered economic benefits worth billions of pounds, according to its annual report.

Results of the 7th annual review into the public infrastructure investment body’s performance across six key areas of public infrastructure including:

  • 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 £337m 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 £13bn 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 £146m 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 - £750m of savings during the five-year corporate plan period, ending in March 2019.

    Sir Angus Grossart, SFT’s chairman, said: “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, added: “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.”

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