“Major Vote of Confidence in UK Clean Energy Leadership”
Tracy Gilbert, MP for Edinburgh North and Leith and Chair of the Offshore Wind All-Party Parliamentary Group (APPG), has welcomed the announcement of a £150 million public investment package into the Pentland Floating Offshore Wind Farm, a project set to support more than 1,000 jobs and accelerate the UK’s position as a global leader in floating wind.
The investment, jointly backed by GB Energy, the National Wealth Fund, and the Scottish National Investment Bank, marks one of the most significant early-stage commitments to floating offshore wind in the UK to date.
Tracy Gilbert MP said:“This £150 million investment is a major vote of confidence in Scotland’s floating offshore wind ambitions and in the UK’s ability to lead the world in this technology.
“The Pentland project demonstrates what can be achieved when GB Energy and our public finance institutions collaborate to support innovation, job creation, and long-term economic growth.
“As Chair of the Offshore Wind APPG, I’ll continue pushing for the infrastructure investment needed to unlock more projects like this, because the benefits for Scotland’s communities, workers, and supply chain are clear.”
One of the largest regeneration projects of its kind in Scotland, to develop a £1.3bn environmentally friendly coastal town on the Capital’s largest brownfield site at Granton Waterfront, is set to take a huge step forward.
The delivery plans include new housing which will be enhanced with a new primary school (the school to be delivered through a separate contract), retail units, public and open green space.
This would be achieved through entering into a development agreement with Cruden Homes to deliver site wide enabling, infrastructure and new homes.
Each of the 847 new homes will be fitted with an air source heat pump providing residents who move in with new, warm, energy efficient ‘net zero ready’ homes, with fairly priced energy bills.
At least 45% of the homes will be affordable – 214 will be for social rent with the rest a mixture of mid-market rent and homes for sale. Some will also be suitable for families who require wheelchair accessibility.
The revitalisation of Granton Waterfront’s historic buildings and industrial built heritage, coupled with the delivery of new leisure and recreation opportunities, will significantly increase visitors to the area, creating new local employment opportunities.
The overall development will make a significant contribution to Edinburgh’s target to become a net zero carbon city, through a mix of energy efficient buildings, gas free heat solutions, cycling and walking paths and a nature-based approach to climate mitigation and adaptation.
This exciting regeneration in the north of Edinburgh, set to start early next year and due for completion in 2033 will build on early action projects already underway in Granton Waterfront. If approved by the Finance and Resources Committee on Tuesday, 18 November, the business case will then be considered by Council on Thursday, 18 December.
Some of these projects are already complete with others taking shape. Tenants are already living in 75 new ‘net zero ready homes’ for social and mid-market rent at Granton Station View. A short distance away Western Villages has 444 ‘net zero ready’ homes for social, mid-market rent and some for sale, which are nearly all occupied. A further 143 ‘net zero ready’ social and mid-market rent homes at Silverlea are also due for completion in Summer 2026.
At the heart of this nationally significant development of Edinburgh’s coastline sits the Granton Gasholder now known as ‘Gasholder 1 Park’.
The iconic gasholder frame has been restored and can be seen for miles around as it is lit up after dark. It has a new public park created within the frame making it a spectacular focal point in the area. The historic former Granton Station has been refurbished as a creative hub and has a new civic square in its grounds.
The Pitt has opened in a repurposed industrial building at 20 West Shore Road and the core path through the development has been upgraded and named Speirs Bruce Way.
Council Leader Jane Meagher said:“The £1.3bn regeneration of Edinburgh’s coastline is hugely significant for our Capital city. It is the largest public sector led project of its kind in Scotland. Over the next 10 to 15 years, it will continue to set the standard for sustainable economic growth in Edinburgh.
“We’re using the largest brownfield site we own to deliver the first phase of this project, with our development partner Cruden Homes. We will be delivering new and affordable, energy efficient ‘net zero ready’ homes which will provide our residents with fairly priced energy bills.
“The retail and leisure units we will deliver will provide an opportunity for local people to enjoy recreation and access employment. We’ll also be improving public transport and cycling and walking paths as well as education services. Our aim is to help to reduce child poverty as well as address the nature and climate emergencies we face locally and globally.
“Our investment in this major project for the Capital further reinforces our approach across the city to achieve low carbon affordable living for as many of our residents as possible. Our aim is to make Edinburgh more inclusive and well connected to support prosperity and wellbeing for those in the Granton Waterfront area and across the city region.”
Fraser Lynes, Managing Director of Cruden Homes, said:“We’re proud to be playing a leading role in delivering this landmark regeneration of Edinburgh’s coastline.
“Granton Waterfront is a bold and innovative project that will create a distinctive new coastal neighbourhood with a real sense of place, centred around much-needed, high-quality, energy-efficient homes and sustainable infrastructure.
“Working in partnership with the City of Edinburgh Council, we’re not only building net zero ready homes but also creating valuable community benefits, from local employment and apprenticeships to investment in skills and supply chains.
“This next phase marks an exciting milestone in shaping a more inclusive, sustainable and connected future for the Capital.”
Phase 1 of the project has been made possible through the Council securing funding from the Scottish Government – capital grant funding from its Housing Infrastructure Fund as part of its commitment through the Edinburgh and South East Scotland City Region Deal, along with revenue funding through an innovative Place Based Accelerator grant. This was formulated with the support of Scottish Futures Trust.
The Place Based Accelerator grant is an innovative funding model that will allow the Council to take forward the development in return for achieving outcomes for the people in the north of Edinburgh including achieving targets related to improvements to health and wellbeing, educational attainment and local employment opportunities.
Granton Waterfront regeneration supports the delivery of the City of Edinburgh Council Business Plan, the Edinburgh City Mobility Plan, Edinburgh City Plan 2030, Climate Ready Edinburgh Plan 2024 – 2030 and the Edinburgh 2030 Climate Strategy. It also supports the delivery of key national policy objectives as set out in NPF 4, Housing to 2040 and the Programme for Government, 2025-2026.
Deputy First Minister Kate Forbes said: “For people living in Granton and north Edinburgh, this investment means real improvements to daily life. Families will have access to affordable, energy-efficient homes that are cheaper to heat.
“Young people will get construction training and local job opportunities. Parents will see new safe walking and cycling routes to schools and shops and green spaces where their children can play.
“Our support for this project is directly tied to delivering outcomes that matter to local people—improving health and wellbeing, creating jobs that go to local residents first and supporting community organisations.”
Neil Rutherford, Senior Associate Director at the Scottish Futures Trust, said: “This innovative outcomes-based Place Accelerator, backed by Scottish Government and partners, is unlocking new opportunities for people in north Edinburgh and delivering benefits for the wider city.
“We believe the Place Accelerator shows how smart funding and collaboration can turn ambition into action, helping create healthier, fairer, and more prosperous communities.”
This year, Gyle Shopping Centre is pulling out all the stops for the biggest and brightest Christmas experience yet!
Think sparkling ice rink, a traditional festive market, and a bar brimming with hot chocolate, mulled wine, and all your seasonal favourites – plus a visit to Santa’s magical grotto
We’re on the lookout for:
Craft makers & gifting stalls
Carol singers
Santa’s elves & ice rink attendants
If you’d love to be part of the festive magic, get in touch today. Let’s make this Christmas one to remember!
Communities set to benefit from better jobs and more opportunities in tech as 14 government-backed projects to support local tech sectors across the UK are unveiled
Government’s £1 million Regional Tech Booster programme gets underway to support tech businesses and founders, and grow local tech ecosystems
The projects across Scotland, Northern Ireland, Wales and England will boost tech growth, and create more jobs and opportunities for people and communities outside London
A series of investment events will also take place, connecting UK tech brilliance with investors, with the first in Bristol and Leeds
The projects – funded under the government’s Regional Tech Booster programme – will provide businesses and entrepreneurs with targeted training, expert guidance, help to build networks, and support to scale their operations from within their communities.
This is to ensure that the jobs and benefits of a thriving tech sector are available to people right across the UK, not just in London, as part of the government’s Plan for Change.
These projects launch right off the back of UK-wide opportunities opening up for tech following the recent announcement of another AI Growth Zone, this time in the North East, and a suite of major tech investments across the UK, following the UK US Tech Prosperity Deal.
Regional Tech Booster projects will include a support scheme for early-stage gaming startups in Scotland, create pathways from further education to entrepreneurship in Lancashire, unlock growth for tech businesses ready to scale in Yorkshire, launch an AI innovation challenge in Wales, and accelerate the growth of the advanced connectivity technology industry in Suffolk.
Alongside the localised focus, some of the projects will also support greater diversity within the sector, with a focus on underrepresented founders. One in Northern Ireland will focus on boosting AI adoption amongst founders, and a West Midlands project will help underrepresented founders build up the networks and support they need to succeed in tech.
This comes as government’s commitment to promoting diversity in tech takes a leap forward, following the Tech Secretary’s announcement of an advisory group to be established to champion diversity across the sector and tech policy development.
Government is partnering with UK Tech Cluster Group to deliver the £1 million Regional Tech Booster programme, ensuring local expertise is driving the work on the ground in these communities.
The programme also includes a series of investment events, through a National Investment Corridors initiative, with the first 2 taking place in Bristol and Leeds later this year. The National Investment Corridors will put local tech centre-stage, boosting investment into the UK’s tech talent from beyond the capital.
Tech for Growth Minister, Kanishka Narayan MP said: “We want UK tech to grow and succeed from any and every corner of the country.
“It’s a no-brainer that supporting projects like these, and encouraging more investment across the UK, will catalyse our tech brilliance to boost economic growth and opportunities for communities nationwide.”
Dr David Dunn, UKTCG lead on Catalyst Pilot Projects said: “The sheer volume of strong applications we received shows there is a huge desire to grow tech ecosystems across the whole of the UK.
“As the projects are delivered, we are excited to share learning across other ecosystems – it is this multiplier effect of knowledge transfer that really makes the Regional Tech Booster initiative valuable.”
The Regional Tech Booster programme will also include workshops on tech ecosystem planning and sharing best practice for ecosystem development with authorities across the country.
Further Regional Tech Booster programme details, including investment event dates and venues, will be available via delivery partners, UK Tech Cluster Group, as they are confirmed.
Challenges in jobs market have been “long in the making”, says TUC – as it calls for ambitious policy response
The number of payrolled employees has fallen by 127,000 over the past year, but the pace of recent falls has slowed.
The employment rate rose slightly to 75.2% from 75.1%. The unemployment rate has risen to 4.7% from 4.6%, but this is offset by welcome falls in the inactivity rate to 21.1% from 21.4%.
Youth unemployment is falling and is now 11.6%, down compared to the same period last year (13.3%)
Real wages grew by 1.2% but real and nominal pay growth are both slowing
Commenting on the latest labour market data, which show some tentative improvements alongside ongoing challenges, TUC General Secretary Paul Nowak said: “Fragilities in the jobs market have been long in the making and are another toxic Tory legacy.
“But there are some positive signs. It is welcome that both economic inactivity and youth unemployment are down.
“And the government has started to lay the foundations to reset our economy with significant investment in public services, stronger workers’ rights and improving the support people need to get into work.
“But the government must build on this with a national jobs guarantee for young people. There are still too many young people stuck out of work, education and training.
“We know that real experience of paid work is the best way to turn the tide on long-term worklessness – and that over time this investment will more than pay for itself.”
TUC calls for a national jobs guarantee for young people to build on the government’s Youth Guarantee.
NEW analysis reveals that supporting 300,000 young people through the scheme would pay for itself within a decade and deliver over £8bn of benefits in the years after – at a cost benefit ratio of 2.8 to 1.
Young people let down by 14 years of toxic Tory rule in urgent need of decisive action, TUC says.
On Wednesday, the TUC called for an ambitious national jobs guarantee for young people currently not in education, employment or training (NEETs).
The UK faces a growing crisis in young people’s labour market participation which spiralled under the Conservatives, the TUC warns.
The TUC says this not only has damaging consequences for young people’s prospects – but for the country as a whole.
The government has “laid the foundations” to turn this around – starting with a youth guarantee programme to ensure every young person aged 18-21 has access to learning, an apprenticeship or support to find a job, which is being trialled in regions up and down the country.
The TUC says this should be built on with a national jobs guarantee, which prioritises young people aged 18-24 who have been not in employment, education or training (NEET) for six months or longer and young people aged 18-24 who are at high risk of becoming long-term NEET.
This would offer young people experience of a real good quality job with a real wage; opportunities to gain new skills; and an employer reference – “game changing” factors for young people approaching the labour market.
National jobs guarantee
While a national jobs guarantee would need upfront investment, TUC modelling estimates that in the long term the cost-benefit ratio would be 2.81, with the scheme paying for itself within a decade.
Setting out potential options for a national jobs guarantee for young people:
100,000 placements in a 2-year period would cost £1.03bn but return £2.9bn.
200,000 placements in a 2-year period would cost £2.06 bn but return £5.8bn.
300,000 placements in a 2-year period would cost £3.1bn but return £8.7bn
The TUC says the national jobs guarantee must be designed to promote good work including by:
Being paid decently, either at the national minimum wage or union negotiated rate for the job
Meeting local labour market needswith additional roles – so that money is only used to create jobs that would not have been created in the absence of a scheme, ensuring jobs guarantee participants don’t replace existing workers.
Delivering quality training that puts workers on a pathway to a Level 3 qualification and ensure the worker gets experience that will enable them to move into permanent work.
Being sustainable, so that the placement could transition into an apprenticeship, or with a guaranteed job interview at the end.
Ensuring quality work which adheres to health and safety law, is accessible and promotes equality, has clear minimum standards for quality and access to a union.
The placements should be allocated proportionately across regions, so there are a greater number of placements in areas where young people face the highest risk of becoming NEET.
Tory legacy
The TUC says the Conservatives failed to support young people throughout the pandemic and ever since, leading to a sharp rise in the number of young people out of work, training and education – leaving yet another toxic Tory legacy for this government to deal with.
Almost a million young people aged 16-24 in the UK are currently not in education, employment or training (NEET), with the total reaching 948,000 in August 2025 – up from 800,000 in 2019.
The TUC says that overall disabled young people are the most affected by this crisis as they’re far more likely to be NEET (28.6%) compared to non-disabled young people (7.1%).
TUC analysis also shows that there is a growing number of young people who are being failed by unsupported or poorly designed opportunities.
Analysis of destination data for 16–18-year-olds who left education in 2022-23 found that a year later 14.8% of them had entered work, education or training but had not completed or continued it. This is up from 12.9% in 2017-18– and is far higher for those on free school meals at 26.8% and SEN young people at 25.9% in 2022-23. The TUC says this shows the need for high quality support in education and workplaces.
Another example of the toxic Tory legacy is the proportion of young women and men who have become NEET since the pandemic.
Overall, while rates among both groups have been growing, young men (from 11.8% in April – June 2019 to 13.1% in April – June 2025) are more likely to be NEET than young women (from 11.3% in April – June 2019 to 12.4% in April – June 2025). Young women however are more likely than young men to be economically inactive – not working nor looking for a job.
Other risk factors identified by the TUC include:
Having a below a Level 2 qualification. This is significant as, according to TUC analysis, 30.9% of 24-year-olds do not have Level 2 English and Maths qualification.
Having unpaid caring responsibilities
The TUC says the government should build on the positive progress in its Make Work Pay agenda to make sure more good jobs and training opportunities are accessible to all young people, particularly disabled young people and young women with caring responsibilities.
TUC General Secretary Paul Nowak said: “Under the Conservatives, young people were failed with many let down by the education system and stuck out of work, education and training.
“This toxic Tory legacy has hugely damaged young people’s prospects – and for the country as a whole too.
“With the youth guarantee, stronger employment rights, an industrial strategy and apprenticeship reforms, the government has started to turn this around.
“It’s now time for ministers to build on this progress with a national jobs guarantee for young people. We know that real experience of paid work is the best way to turn the tide on rising rates of worklessness – and that over time this investment will more than pay for itself.
“Young people across the country need access to high-quality training and decent, well-paid work – boosting their prospects and the wider economy as a whole.”
The Centre, Livingston, which is one of the largest shopping centres in the country has unveiled plans to open a new jewellery store, F.Hinds and a 380-seater Marble Buffet restaurant, which will be their first site in a Scottish mall, creating a total of 41 new jobs for the local area.
F.Hinds is a sixth generation, family-run jewellers which opened its first store in London in 1856 and now has 118 stores across the UK, the store will offer a wide range of products for every age, taste and occasion, as well as popular services including jewellery and watch repairs.
The 1,395 sq. ft. store, which will be located next to Ryman, is due to open in August, bringing six new jobs to the shopping centre.
The 15,770 sq. ft. contemporary designed Marble Buffet restaurant, which will create 35 new jobs, will be located above Nando’s on Almondvale Boulevard, and is expected to open in May 2026.
It will feature live cooking stations with skilled chefs creating a wide selection of dishes from around the world including Asian, Indian and European.
The announcement follows the arrival of various new retailers to the shopping centre over the past 18 months, including the first Cinnabon in Scotland, Las Iguanas, wellbeing store Rituals, Danish lifestyle and homeware brand Sostrene Grene, Pop Specs, The Designer Rooms and a 90-seater Starbucks in February.
The new restaurant will complement the existing diverse mix of over 150 stores and eateries at The Centre, Livingston, which includes Flannels, H&M, River Island, M&S, Hotel Chocolat, wagamama and Five Guys, spanning over 1 million sq. ft., with over 3,000 parking spaces.
In addition to welcoming new retailers, the owners, LCP, part of M Core, one of Europe’s leading, privately owned commercial property development and management companies, also recently announced plans to expand into the leisure sector.
The UK’s leading family entertainment provider, Hollywood Bowl, is set to open a 26,000 sq. ft. venue next year featuring 22 cutting-edge bowling lanes, an arcade and a bar and diner, giving shoppers the opportunity to ‘shop, eat and play’ when they visit.
Rakesh Joshi, Director at LCP, part of M Core, said: “We are delighted to welcome another fantastic restaurant, Marble Buffet, to our wide mix of existing places to dine out at The Centre, Livingston and also another leading high-street jewellery brand, F.Hinds.
“We are dedicated to ensuring that all of our new openings continue to keep the shopping centre firmly on the Scottish map as the number one destination to visit and enjoy a great day out with family and friends.”
Simon Eatough, Director at LCP, part of M Core and Asset Manager of The Centre Livingston, said: “We are really looking forward to the opening of the jewellery store, F.Hinds and Marble Buffet’s first site in a shopping centre early next year and delighted they will be creating 41 new jobs in West Lothian.
“The new restaurant will give our visitors even more choice when it comes to enjoying quality time dining out.
“We will continue to strengthen the existing diverse range of eateries and shops at The Centre, Livingston, with even more exciting announcements coming soon.”
Jeremy Hinds, Retail Director at F.Hinds, said: “We’re thrilled to be opening a new F.Hinds store at The Centre, Livingston, a prime destination that aligns with our growth plans in Scotland.
“This new location gives us the opportunity to bring our extensive range of quality jewellery and exceptional customer service to even more people. We look forward to becoming part of the local community and supporting jobs in the area as we continue to expand our national presence.”
A spokesperson for Marble Buffet spokesperson, said: “This is a really exciting time for us at Marble Buffet as we countdown to the launch of our first restaurant in a shopping centre.
“The Centre, Livingston is the perfect location for us and we are really looking forward to welcoming customers locally, and from afar, who want to savour the taste of lots of different international cuisines, all under one roof, where there’s something to suit all tastes.”
Additional new openings at The Centre, Livingston over the past 18 months, include BeLeaf Juice Bar, Beauty’s Inn, Buzart, Afro Crest, Loris Parfum, The Watch Lab, Barclays Bank and Elite Smile Dental Clinic.
Located at 112 Dundee Street (EH11 1FQ), the 4,000 sq ft store marks a return to the heart of a community where Scotmid’s journey began more than 165 years ago.
The new store has created 26 new jobs for the local area and offers an enhanced customer experience with a wide range of fresh and frozen products, everyday essentials, and locally sourced Scottish produce, reinforcing Scotmid’s continued commitment to supporting Scotland’s food and drink industry.
Scotmid’s much-loved food-to-go offering has been expanded for this location:
Freshly prepared baguettes, hot breakfasts, salad bowls, Big Al’s burgers, pizzas, and hot chicken
Costa Coffee (served and self-serve)
Stephens the Bakers counter
Tanpopo sushi and rice boxes
Chopstix Express noodle bar
Saltire Patisserie artisan bakes
The opening forms part of Scotmid’s commitment to bringing high-quality convenience shopping and food-to-go options to local communities across Scotland.
Opening day festivities included goodie bags for the first 50 customers and three hidden golden tickets offering special prizes. Scotmid also hosted an event in partnership with Re-Union Canal Boats, a local social enterprise.
Guests enjoyed a relaxing canal cruise through Fountainbridge, celebrating Scotmid’s past and future in the area. Re-Union reinvests all profits into local community initiatives that improve the area for everyone.
Karen Scott, Scotmid Chief Executive, said: “This new store marks a milestone for Scotmid. Not only does it serve the needs of a vibrant community but also reconnects Scotmid with its roots as Fountainbridge was where we originated in 1859.
“We’re delighted to invest in Fountainbridge and offer fresh choice, value, and convenience.”
The store is open seven days a week, including extended evening hours for commuters and local shoppers.
UK Government’s Plan for Change delivers record settlement for Scottish Government with an extra £9.1 billion over the SR period to deliver public services
Working people across Scotland will benefit from significant investment in clean energy and innovation, creating thousands of high-skilled jobs and strengthening Scotland’s position as the home of the United Kingdom’s clean energy revolution.
The UK Government has confirmed £8.3 billion in funding for GB Energy-Nuclear and GB Energy in Aberdeen. This is alongside an increased commitment to the Acorn Carbon Capture, Usage and Storage project, which will receive development funding.
The Spending Review, outlined yesterday, Wednesday 11 June, announces targeted investment in Scotland’s most promising sectors to grow the economy and put more money in working people’s pockets. It delivers an extra £9.1 billion over Phase 2 of the Spending Review, through the Barnett formula.
The government also confirmed £25 million for the Inverness and Cromarty Firth Freeport.
These investments are part of a wider package, with funding for hydrogen production projects at Cromarty and Whitelee.
Secretary of State for Scotland, Ian Murray, said: “Putting more money in the pockets of working Scots by investing in the country’s renewal is at the heart of this Spending Review and our Plan for Change.
“The Chancellor has unleashed a new era of growth for Scotland, confirming billions of pounds of investment in clean energy – including new development funding for Acorn – creating thousands of high-skilled jobs.
“Scotland’s leading role at the heart of UK defence policy has been strengthened and there is also significant investment in our trailblazing innovation, research and development sectors.
“And the Scotland Office will work with local partners to ensure hundreds of millions of pounds of new targeted support for Scottish communities and businesses goes to projects that matter to local people. This means that the UK Government is now investing almost £1.7 billion in dozens of important growth schemes across Scotland over 10 years.
“To maximise the benefit of recent trade deals with India, US and the EU we are continuing the Brand Scotland programme to promote inward investment opportunities boosting Scottish exports of our globally celebrated products.
“And we are delivering a record real-terms funding settlement for the Scottish Government with an extra £9.1 billion over the Spending Review period through the Barnett formula. That’s more money than ever before for them to invest in Scottish public services like our NHS, police, housing and schools.
“This is a historic Spending Review for Scotland that chooses investment over decline and delivers on the promise that there would be no return to austerity.”
Investment in Scotland to strengthen UK defence
Speaking in the House of Commons yesterday, the Chancellor reaffirmed the government’s commitment to increase defence spending to 2.6% of GDP by April 2027, backing our Armed Forces, creating British jobs in British industries, and prioritising the security of Britain when it is most needed.
The long-term future of the Clyde is secured through an initial £250 million investment over three years which will begin a multi-decade, multi-billion pound redevelopment of HM Naval Base Clyde through the ‘Clyde 2070’ programme.
Investing in innovation and R&D
Scotland will also become home to the UK’s largest and most powerful supercomputer, with up to £750 million committed to its development at Edinburgh University. This world-class facility will give scientists across all UK universities access to extraordinary computer power, further strengthening Scotland’s research and innovation capability.
The UK Government is backing Scottish industry with a share of increased UK-wide R&D spending set to grow from £20.4 billion in 2025-26 to over £22.6 billion per year by 2029-30. Scotland will also benefit from a £410 million UK-wide Local Innovation Partnerships Fund.
Targeted support for Scottish communities
The government is also investing £160 million over 10 years for Investment Zones in the North East of Scotland and in Glasgow City Region, and confirming £452 million over four years for City and Growth Deals across Scotland.
A £100 million joint investment for the Falkirk and Grangemouth Growth deal with the Scottish Government (£50 million from UK Government and £50 million from Scottish Government), demonstrating the UK Government’s continued commitment to the Grangemouth industrial area.
A new local growth fund, and investments in up to 350 deprived communities across the UK, will maintain the same cash level as in 2025-26 under the Shared Prosperity Fund. The Ministry of Housing, Communities and Local Government and the Scotland Office, will work with local partners and the Scottish Government, to ensure money goes to projects that matter to local people. This investment will help drive growth and improve communities across Scotland.
Supporting Scottish businesses
The National Wealth Fund (NWF) is trialling a Strategic Partnership with Glasgow City Region to provide enhanced, hands-on support to help it develop and finance long term investment opportunities. The NWF has already made its first investment in Scotland with £43.5 million in direct equity for a sustainable packaging company, which is to build its first commercial-scale manufacturing facility near Glasgow.
Through its Nations and Regions Investment programme the British Business Bank is delivering £150 million across Scotland to break down access to finance barriers and drive economic growth.
The settlement also allocates £0.75 million each year to champion our ‘Brand Scotland’ trade missions to promote Scotland’s goods and services on the world stage and to encourage further growth and investment.
A record settlement for Scottish public services
The Government has been clear that local decision-making against local priorities is central to delivering growth.
The Scottish Government will receive the largest real terms settlement since devolution began in 1998, with an average £50.9 billion per year between 2026-27 and 2028-29, enabling the Scottish Government to deliver for working people in Scotland. This includes £2.9 billion per year on average through the operation of the Barnett formula, with £2.4 billion resource between 2026-27 and 2028-29 and £510 million capital between 2026-27 and 2029-30.
This investment and record settlement is made possible by the ‘tough but necessary’ decisions taken in the October Budget.
Edinburgh North and Leith Labour MP Tracy Gilbert has welcomed the statement. She said: “The Comprehensive Spending Review is good for Scotland’s economy and public Services.
“After several meetings with the Secretary of States for Science, Innovation and Technology and Scotland I’m so pleased to see the announcement of funding for the new Supercomputer to be based at EdinburghUniversity.
“This major investment in Edinburgh positions us at the forefront of computing, and technological innovation, not just in the UK, but globally.”
Not unsurprisingly, the Holyrood SNP Government has a number of issues with the likely impact of the Spending Review on Scotland. Post to follow …
‘GOLDEN AGE OF CLEAN ENERGY ABUNDANCE’ – ED MILIBAND
10,000 jobs, including 1,500 apprenticeships, to be created as the Government announces multi-billion investment to build Sizewell C.
Chancellor to confirm funding at the GMB Congress ahead of Spending Review, as Energy Secretary vows ‘golden age’ of nuclear.
Investment to deliver clean power to millions of homes, cut energy bills and boost energy security.
Government commits over £6 billion of investment to nuclear submarine industrial base to deliver on Strategic Defence Review
Ten thousand jobs will be created as the Government announces a £14.2 billion investment to build Sizewell C nuclear plant as part of the Spending Review, ending years of delay and uncertainty.
The Chancellor is set to confirm the funding at the GMB Congress later today ahead of the Government’s Spending Review, as the Energy Secretary vows a ‘golden age’ of nuclear to boost the UK’s energy security.
The Government’s investment will go towards creating 10,000 jobs, including 1,500 apprenticeships, and support thousands more jobs across the UK.
The company has already signed £330 million in contracts with local companies and will boost supply chains across the UK with 70% of contracts predicted to go to 3,500 British suppliers – supporting new jobs in construction, welding, and hospitality.
The equivalent of around six million of today’s homes will be powered with clean homegrown energy from Sizewell C. The investment in clean, homegrown power brings to an end decades of dithering and delay, with the Government backing the builders in the drive for energy security and kick-starting economic growth.
The announcement comes as the Government is set to confirm one of Europe’s first Small Modular Reactor programmes. This comes alongside record investment in R&D for fusion energy, worth over £2.5 billion over five years. Taken together with Sizewell C, this delivers the biggest nuclear building programme in a generation.
Clean, home-grown power at Sizewell C will help drive the UK’s energy security, as part of the Government’s mission to protect family finances by replacing the UK’s dependency on fossil fuel markets controlled by dictators with homegrown power that we control.
Chancellor of the Exchequer, Rachel Reeves, said:“Today we are once again investing in Britian’s renewal, with the biggest nuclear building programme in a generation. This landmark decision is our Plan for Change in action.
“We are creating thousands of jobs, kickstarting economic growth and putting more money people’s pockets.”
Energy Secretary Ed Miliband said:“We will not accept the status quo of failing to invest in the future and energy insecurity for our country.
“We need new nuclear to deliver a golden age of clean energy abundance, because that is the only way to protect family finances, take back control of our energy, and tackle the climate crisis.
“This is the Government’s clean energy mission in action – investing in lower bills and good jobs for energy security.”
Sizewell C
Sizewell C will provide 10,000 people with employment at peak construction and support thousands more jobs across the UK, including 1,500 apprenticeships.
The company has already signed £330 million in contracts with local companies and will boost supply chains across the UK with 70% of contracts predicted to go to 3,500 British suppliers – supporting new jobs in construction, welding, and hospitality. Jobs in the nuclear industry pay well above national averages and the government is committed to working with nuclear trade unions such as the GMB, Unite, and Prospect, who will continue to play a pivotal role in building the industry.
Despite the UK’s strong nuclear legacy, opening the world’s first commercial nuclear power station in the 1950s, no new nuclear plant has opened in the UK since 1995, with all of the existing fleet except Sizewell B likely to be phased out by the early 2030s.
Sizewell C was one of eight sites identified in 2009 by then-Energy Secretary Ed Miliband as a potential site for new nuclear. However, the project was not fully funded in the 14 years that followed under subsequent Governments.
The Government’s nuclear programme is now the most ambitious for a generation – once small modular reactors and Sizewell C come online in the 2030s, combined with Hinkley Point C, this will deliver more new nuclear to grid than over the previous half century combined.
Small Modular Reactors
Great British Nuclear is expected to announce the outcome of its small modular reactor competition imminently, the first step towards the goal of driving down costs and unlocking private finance with a long-term ambition to bring forward one of the first SMR fleets in Europe.
The government’s nuclear resurgence will support the UK’s long-term energy security, with small modular reactors expected to power millions of homes with clean energy and help fuel power-hungry industries like AI data centres.
This follows reforms to planning rules announced by the Prime Minister in February 2025 to make it easier to build nuclear across the country – changing the rules to back the builders of this nation, and saying no to the blockers who have strangled our chances of cheaper energy, growth and jobs for far too long.
The government is also looking to provide a route for private sector-led advanced nuclear projects to be deployed in the UK, alongside investing £300m in developing the world’s first non-Russian supply of the advanced fuels needed to run them.
Companies will be able to work with the government to continue their development with potential investment from the National Wealth Fund.
Fusion Energy
The government is also making a record investment in R&D for fusion energy, investing over £2.5 billion over 5 years. This includes progressing the STEP programme (Spherical Tokamak for Energy Production), the world-leading fusion plant in Nottinghamshire, creating thousands of new jobs and with the potential to unlock limitless clean power.
This builds on the UK’s global leadership to turbocharge economic growth in the Oxford-Cambridge corridor, while helping deliver the UK’s flagship programme to design and build a prototype fusion power station on the site of a former coal-fired plant.
Defence
To secure the UK as a leader in both civil and defence nuclear, the government is also making continued long-term investment in our Defence Nuclear Enterprise and its industrial base, which is critical for our national security while also being a significant generator of economic opportunities, jobs and growth across the entire country.
Further investments in the defence nuclear sector include over £6bn over the SR period to enable a transformation in the capacity, capability and productivity of the UK’s submarine industrial base, including at BAE Systems in Barrow and Rolls-Royce Submarines in Derby – to deliver the increase in the submarine production rate announced in the Strategic Defence Review.
In addition, we will embark on a multi-decade, multi-billion redevelopment of HMNB Clyde, with an initial £250m of funding over 3 years, supporting jobs, skills and growth across the West of Scotland.
The government will also invest over £420m of additional funding in Sheffield Forgemasters, securing 700 existing skilled jobs and creating over 900 new construction roles.
Green aircraft engine developer ZeroAvia is to establish a major manufacturing base in Scotland, creating around 350 jobs.
The US company’s Hydrogen Centre of Excellence will be sited in the Advanced Manufacturing Innovation District Scotland (AMIDS) in Renfrewshire and produce advanced fuel cell systems for its hydrogen-electric aero engines. The facility is expected to begin operating by 2028.
Scottish Enterprise has awarded a grant of £9 million to the project, building on an earlier £20 million investment in the company from the Scottish National Investment Bank. The grant will unlock significant multiple investments from ZeroAvia as it develops the facility and operations, with the company targeting a multi-billion pound global export market.
ZeroAvia’s engines can reduce operating costs for airlines and would cut aviation’s contribution to global warming by emitting only water. The company hopes an engine for up to 20 seat planes will enter service in 2026 and it is working on a powertrain for 40 to 80 seat aircraft.
First Minister John Swinney visited Glasgow Airport to meet with ZeroAvia and partners supporting the project and Scotland’s green aviation agenda.
The First Minister said: “Scotland has the skills, the talent and the innovation to be at the forefront of efforts to tackle the climate emergency while developing significant new opportunities to grow the economy.
“ZeroAvia’s decision to establish a base in Scotland – creating 350 highly-skilled jobs in the process – is the perfect illustration of Scotland’s growing reputation in the global transition to net zero.
“Attracting inward investment is critical to economic growth and we will continue to work with Scottish Development International and other partners bring more high quality jobs to Scotland.
“By setting out a strategic vision in priority areas such as the hydrogen we are sending a clear statement to investors and businesses that Scotland is at the heart of the green energy revolution. The Hydrogen Centre of Excellence will be at the forefront of fuel cell technology and offers a hugely promising and exciting proposition for sustainable aviation.”
Val Miftakhov, Founder and Chief Executive, ZeroAvia said: “Scotland has some unique advantages for ZeroAvia with strong aerospace and engineering skills, a burgeoning hydrogen sector and a clear aviation strategy with potential for early adoption of zero-emission flights.
The aviation industry is on the cusp of the biggest transformation since the advent of the jet age, with entirely new propulsion systems set to power the next era of aviation – cleaner flights, better economics and better experiences for all.”
“With this new facility, Scotland has a big role to play in driving this transformation. We welcome the grant award from Scottish Enterprise and the support of our equity investors that has enabled us to move into another phase of manufacturing readiness as we progress towards certification of our first engines.”
Scottish Enterprise Chief Executive Adrian Gillespie said: “It is fantastic that we’ve been able to attract ZeroAvia to Scotland, not only for the jobs they will be creating, but for the hugely important role they can play in ensuring Scotland maintains its reputation for fostering innovative green technologies.
“Making aviation sustainable is crucial to a successful green economy and Scottish Enterprise is fully committed to backing ambitious companies with innovative ideas.
“ZeroAvia’s decision to come to Scotland is a real boost to our energy transition leadership, as well as being a further example of why Scotland is such a great place for inward investment.”
