Scotland 'Needs £13bn Investment' To Create Growth

The Scottish economy has lost £24bn through failed austerity measures, according to a Scottish business organisation.

The N-56 group is calling for 13-billion pounds to be invested in the scottish government to stimulate economic growth and create jobs. They say it should be paid for by increasing public spending.

The opportunities this additional investment will be used for will be identified in a National Investment Programme and include investment in infrastructure, such as transport, broadband and energy networks; research and development, and a greater focus on promoting key export sectors.

Dan Macdonald, founder of N-56, said:

“It is clear that the UK Government’s current strategy of cutting public spending to the bone in order to tackle the deficit and the debt has not worked, even by its own targets. We desperately need to undertake a radical overhaul of this failed austerity experiment, loosening the purse strings and focusing instead on delivering economic growth through greater investment in the economy.

“Our National Investment Programme, which will form a key part of our Invest for Growth economic strategy, will cherry-pick those opportunities which will generate economic growth and provide a maximum return.”