First minister Alex Salmond demands cash injection to revive sector

Scotland鈥檚 first minister Alex Salmond has demanded an immediate 拢400m cash injection from the UK Government to reverse the Scottish construction sector鈥檚 slide into recession.

GDP figures this week showed the country鈥檚 construction output shrank 6.9% in the first quarter of this year.

Salmond said: 鈥淭he Scottish Government submitted a list of shovel-ready projects to the UK Government in February, but no immediate action has yet been taken by the Prime Minister or his Chancellor.

鈥淎nnouncements about rail investment in three years time are no substitute for capital spending now.

鈥淭he u-turn of providing guarantees to loan finance of up to 拢40 billion is welcome but is subject to companies having the confidence to invest in major infrastructure projects and meeting the necessary criteria. This scheme will take a year or more to get off the ground but investment is required immediately.

鈥淭herefore, we now need a further Budget u-turn with an impact to make an immediate difference.

鈥淲e need direct capital spending on shovel ready projects to the tune of some 拢5 billion. The Scottish Government would guarantee that our 拢400 million plus share would be allocated in this financial year.鈥�

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