The Scottish Futures Trust (SFT) is an

executive non-departmental public body In the United Kingdom, non-departmental public body (NDPB) is a classification applied by the Cabinet Office, Treasury, the Scottish Government and the Northern Ireland Executive to public sector organisations that have a role in the process of n ...

of the Scottish Government, established in September 2008 to improve

public infrastructure Public infrastructure is infrastructure owned or available for use by the public (represented by the government). It is distinguishable from generic or private infrastructure in terms of policy, financing, purpose, etc. Public infrastructure is ...

investment. SFT operates at arm's length from the Government but works closely with the public and private sectors to deliver value-for-money on all public sector infrastructure investment across the country. The trust has the aim of saving £100–£150 million each year through a wide range of activities.

Background

In their manifesto for the 2007 election, the

Scottish National Party The Scottish National Party (SNP; sco, Scots National Pairty, gd, Pàrtaidh Nàiseanta na h-Alba ) is a Scottish nationalist and social democratic political party in Scotland. The SNP supports and campaigns for Scottish independence from ...

(SNP) proposed the Scottish Futures Trust as an alternative to PPP/ PFI, encouraging greater use of public bonds, to access to lower-cost borrowing. It was a solution conceived to allow the devolved administration to gain some leverage around private sector investment.

Structure

the trust has a £4million operating budget. There are a team of over 50 professionals at SFT, who have the responsibility of increasing the efficiency and effectiveness of infrastructure investment in Scotland. It is run by a board of seven members appointed by Scottish ministers, headed by

non-executive chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group ...

Sir Angus Grossart.

Programme

The programme of work includes plans for 1000 homes, with work having begun on 600 of these by mid-2012. Healthcare projects that have been achieved through the SFT include the £15m

Aberdeen Community Health and Care Village Aberdeen Community Health and Care Village also known as The Health Village is a community hospital located in the centre of Aberdeen, Scotland. It is managed by NHS Grampian. History Plans for the complex were announced in 2010. The facility, ...

which opened in 2013 and the new £150m Royal Hospital for Sick Children and Department of Clinical Neurosciences in Edinburgh which is due to open in 2017. The schedule includes a £1.25billion schools programme.

Reported savings

During 2009−10, SFT reported saving the Scottish taxpayer £111 million, which increased to £129 million in 2010–11. In 2011−2012, SFT reported helping to deliver £131 million of net benefits and savings to infrastructure investment with their calculations independently validated by

Grant Thornton LLP Grant Thornton LLP is the American member firm of Grant Thornton International, the seventh largest accounting network in the world by combined fee income. Grant Thornton LLP is the sixth largest U.S. accounting and advisory organization. The fi ...

and academics from the

London School of Economics and Political Science , mottoeng = To understand the causes of things , established = , type = Public research university , endowment = £240.8 million (2021) , budget = £391.1 millio ...

. And in 2012/13, the benefits figure reached £132 million, bringing SFT's cumulative benefits to over £500 million. When SFT was established in 2008, Scottish Ministers set it a challenging target of achieving between £100 - £150m of savings and benefits each year during its first, five-year Corporate Plan period. SFT succeeded, as between 2009 and 2014, it secured £642m of savings and benefits. During this 2014 – 2019 Corporate Plan period, SFT is working to secure a similar amount and is on track to do so with £135m delivered in 2014/15, £146m in 2015/16 and £138m in 2016/17. Over and above its financial target, the impact of SFT's work generates many benefits that make a difference to peoples' lives, as it secures future employment; it creates new training and apprenticeship opportunities; it helps protect the environment; it expands access to superfast broadband, and it improves working environments by having flexible, well-designed buildings.

References

External links