Multi-billion pound boost for Scotland’s railwaysStaff Writer | October 14, 2017
Ministers have revealed the Scottish Government will receive more than £3.6 billion over five years from 2019/20 – an increase of £600 million on the previous period.
Britain An increase of £600 million
So it can choose how best to use this money to improve the reliability of services for passengers, fund upgrades and invest in faster and more comfortable trains.
This new funding settlement is on top of the significant additional Barnett funding the Scottish Government now receives to spend on its priorities, including transport.
The Scottish Government has been allocated £1.2 billion since Autumn Statement 2016 and will also get Barnett Formula funding following the UK’s investment in HS2.
The Scottish Government will decide how much of this Barnett funding should be spent on the Scottish railway network.
As a result of UK government decisions in other areas, Scotland has benefited from an additional £2 billion funding since the 2015 Spending Review.
Through the Scotland Act, the Scottish Parliament now has the ability to set devolved taxes in Scotland, making it one of the most powerful devolved Parliaments in the world.
Scotland also benefits from the strength of the UK economy, which was the second fastest growing major advanced economy last year. ■