A better future

In his article "Refurbishment, not renewal, is the way to build a better future", (Between the Lines, 14 April), David Thomson makes a good analysis of some of the pressures facing public finances.

There's little doubt that, across the public sector, the focus must now be on identifying needs rather than wants in order to improve value for money. The Scottish Futures Trust (SFT) is already reflecting this in our management of the new schools programme with the aim of providing high quality sustainable schools at a lower cost than was previously achieved.

I'd like to reassure Mr Thomson, and the wider readership, that SFT is both making its mark and making a difference to infrastructure investment in Scotland. In publishing our 2010-11 Business Plan this week, we detail how we are improving value for across a range of projects with a value of 5.5 billion, including the new Forth crossing, Borders railway and proposed Aberdeen western peripheral route. SFT is also managing the radical hub initiative that will provide than 1bn worth of local community and health facilities such as GP surgeries and community centres over the next ten years.

Another driving force for SFT is sourcing additional finance in innovative ways that provide good value. SFT is the driving force behind the new National Housing Trust that will bring in extra finance to provide at least 1,000 new affordable homes. SFT is leading the way in the UK with our adoption of US-style tax incremental financing that has the potential to unlock more than 1bn of regeneration funding in Edinburgh, Glasgow and North Lanarkshire.

There is no magic wand to conjure money and resources out of thin air but, as we make clear in our Business Plan, SFT has the expertise, commercial acumen and commitment to ensure that money available for infrastructure goes as far as possible.

BARRY WHITE

Chief executive

Scottish Futures Trust

St Colme Street, Edinburgh