PARLIAMENTARY WRITTEN QUESTION
Economic Growth (29 March 2018)

HM Treasury regularly engages with Scottish Government ministers through a number of forums, including the Finance Ministers’ Quadrilateral and the Joint Exchequer Committee process.

The UK Government is committed to delivering economic growth across the UK. At Autumn Budget 2017, Scotland benefitted from a £2 billion boost to the Scottish Government’s budget and further targeted support. This included introducing a Transferable Tax History mechanism, which will encourage new investment in the oil industry, and opening negotiations for a Borderlands Growth Deal. The Prime Minister also recently announced the UK Government would formally begin talks for an Ayrshire Growth Deal.

To date, the UK Government has committed almost £1 billion to Scottish City Deals and will continue to support the Tay Cities and Stirling and Clackmannanshire City Deals announced at Spring Budget 2017.