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Scotland

Scotland

UK hands Scotland £100 million renewables boost

UK: The UK treasury has handed Scotland a £100 million funding for its renewables industry.

The money comes from the Scottish Fossil Fuel Levy fund, which currently holds around £200 million.

The remaining £100 million will go into the Green Investment Bank.

UK chancellor of the exchequer George Osbourne said: "The UK Coalition Government is committed to creating jobs across Scotland – particularly in the green energy sector.

"It’s great news that we have been able to cut through the arguments and the wrangling with the Scottish Government that have stopped this money being invested in the past. It shows how serious the UK Government is in its support for Scotland’s green future."

The award follows recent concern over Scotland’s plans to build up its wind sector with the aim of turning itself into an energy exporter.

The report also argues that an independent Scotland would have too small a consumer base to generate the annual subsidy of £4bn, which they believe would be needed to support a hugely increased reliance on renewable energy.

 

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