However, he is wrong to say that Scotland is lagging behind in terms of attracting private investment – it is in fact a leader in this field. On a per-head basis, Scotland is currently attracting more private investment into public infrastructure than any other European country.
The £2.5 billion Non Profit Distributing programme (NPD), led by the Scottish Futures Trust (SFT), is investing in roads, schools, colleges and hospitals.
Of the two major road projects, more than £300 million of international investment has already been secured for the M8/M73/M74 motorway improvements where work is under way, with more than £400m to follow into the soon-to-start Aberdeen Western Peripheral Route, which is in the final stages of procurement.
SFT uses its commercial expertise to engage with a wide range of financiers in order to secure the best value investment. The NPD programme is successfully attracting international investors, with £600m already agreed for investment by the European Investment Bank, alongside more than £800m from European banks and pension funds.
So, with private investment into public infrastructure running at five times the European average – we hope you would agree that Scotland is a leader in attracting international investment in our infrastructure – vital to protect construction jobs and support our connectivity and economy.
Director of finance and investments
Scottish Futures Trust