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Accelerated investment for Glasgow
13/01/2009
Reshaping and accelerating capital spending will bring more jobs, attract further investment and create opportunities for Glasgow's residents and businesses, First Minister Alex Salmond said today.
The FM was speaking ahead of tomorrow's Glasgow Chamber of Commerce 'Glasgow Talks...' event where he will outline the direct benefits of the Budget Bill's £230 million accelerated infrastructure investment to Glasgow.
This includes £30 million to Scottish Enterprise to progress projects such as the SECC Arena project, £24 million to upgrade transport networks and £5 million for park and ride schemes.
The Budget Bill, published last week, supports the Government's six point economic recovery programme which aims to reflate Scotland's economy and increase sustainable economic growth.
Ahead of the Glasgow Chamber of Commerce event, the FM said:
"In value added terms, workers in Glasgow city centre are one third more productive that the Scottish and UK average. The city has a broad range of expertise in engineering, financial services, life sciences and energy. Scotland's largest city has the potential to become an economic powerhouse.
"Clearly, we are living in unprecedented and tough economic times. However, Glasgow is already well on its way to harnessing its potential to the full and maintaining a positive momentum through the current downturn.
"The Scottish Government's six point economic recovery plan, the small business bonus scheme, the council tax freeze, the Year of Homecoming and the 2014 Commonwealth Games, alongside Glasgow City Council's vigorous efforts to support the business community, will all help to keep Glasgow's economy moving.
"The Budget Bill is the most recent boost to our efforts to reflate the economy by identifying £230 million of accelerated capital spend. This will accelerate the SECC Arena project and Park & Ride schemes between Ayrshire, Lanarkshire, East Renfrewshire and Glasgow. This investment is in addition to the completion of the M74 and plans to increase rail capacity and transport connections throughout the West of Scotland.
"The £230 million will include £90 million to help councils with their own economic recovery packages. It will also ensure government support for businesses continues at this pace, at local and national level.
"All these initiatives will assist Glasgow, its businesses, high streets and families. These are difficult times but we must maintain our drive and optimism. We have the Year of Homecoming with a target to increase tourism revenue by £40 million and the 2014 Commonwealth Games with a suggested job creation of 1000 for Glasgow. These are only two of a number of opportunities which lie waiting for Glasgow to seize and use to its full advantage."