The Government’s Spending Review included:
On Defence Investment, Dr Cameron said:“The increases to the defence budget will expand the industrial base and create jobs in high-growth industries. With 430,000 employees in the aerospace, defence, security and space sectors, and productivity 42% higher than the national average, this represents a significant economic opportunity for Scotland. The Government must reinforce this investment with an industrial plan to manage the ripple effects for sectors such as transport, health, services and logistics.”
On the Edinburgh University supercomputer, Dr Cameron said:“The decision last Autumn to remove funding from the Edinburgh University supercomputer project was short-sighted, and we welcome the Government’s reversal. The additional £750m pledged today will support the high-quality research coming from Scotland’s world-leading research facilities and accelerate the commercialisation of our AI capabilities. Focusing on high growth sectors like IT, biotechnology and life sciences shows that the government has the right priorities.”
On the fiscal rules, Dr Cameron said:“The investments outlined today have the potential to set the UK economy on the pathway to growth, but the Treasury needs more room to manoeuvre. We echo calls from the International Monetary Fund and leading economists calling for a review of the Government’s fiscal rules to allow more flexibility to invest in long-term assets such as transport, infrastructure, connectivity and logistics.”
On the industrial strategy, Dr Cameron said:“Scotland’s business community can be enthusiastic about the confirmed investments but these must be accompanied by a joined-up industrial strategy. Without a clear, cross-sectoral plan, there is a risk that business and government will not realise the full potential of the projects currently in the pipeline. We await its full publication at the end of June.”
