Scotland's finance minister has defended the Scottish Futures Trust (SFT), amid growing criticism from councils the flagship investment programme will not deliver much-needed local infrastructure. John Swinney insisted on 31 May that the SFT was ‘already supporting investment' in schools, hospitals and roads as part of a £35bn infrastructure programme led by the Scottish Nationalist Government. It followed criticism by councils, including town halls led by Nationalists, that the SFT ‘lacked substance'. The SFT was originally set up to issue government bonds to fund major investment projects, a move designed to replace public-private partnerships. However, the trust has encountered multiple problems, and has effectively evolved into a scheme to help public bodies identify and deliver efficiency savings. Councils have been so unimpressed by the regime they are considering other investment options. Glasgow City Council leader, Stephen Purcell, recently warned ‘there is no sign of [PPPs'] suggested replacement, the Scottish Futures Trust, being able to provide the schools and nurseries we need'. But Mr Swinney said: ‘The futures trust, which delivers increased value for taxpayers' money, has taken charge of the programme delivery for two community hub developments in the south-east and north of Scotland, and will commission a new schools building project this year.'
