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Mundell: Scotland set for £500m from infrastructure spending | |
(about 2 hours later) | |
Scottish Secretary David Mundell has said the Scottish government will get an extra £500m as a result of UK government plans to boost infrastructure spending. | |
He confirmed the funding at the Conservative party conference. | |
Chancellor George Osborne has pledged an extra £5bn for transport, energy and housing projects. | Chancellor George Osborne has pledged an extra £5bn for transport, energy and housing projects. |
Scotland will get a share through the Barnett formula but ministers at Holyrood can decide how it is spent. | Scotland will get a share through the Barnett formula but ministers at Holyrood can decide how it is spent. |
The Barnett formula is a system of grants which dictates the level of public spending in Scotland, Wales and Northern Ireland. | The Barnett formula is a system of grants which dictates the level of public spending in Scotland, Wales and Northern Ireland. |
Under it, extra funding - or cuts - from Westminster are allocated according to the population size of each nation and which powers are devolved to them. | Under it, extra funding - or cuts - from Westminster are allocated according to the population size of each nation and which powers are devolved to them. |
The Scottish secretary said the additional £500m would be passed to the Scottish government through the block grant. It will not have to be spent on infrastructure projects. |