Chancellor Rachel Reeves will outline how the Spending Review will give Scotland a jobs boost, as she visits RAF Lossiemouth and St Fergus Gas Plant today (1 August).
- 18,000 North Sea jobs can be safeguarded through a £200 million investment in the Aberdeen Acorn energy project whilst creating 15,000 new ones in Scotland's clean energy transformation.
- Increase in defence spending will see more jobs added to the 26,100 skilled Scottish jobs already supported by UK Government defence investment, and three new E-7 Wedgetail aircraft will see even more jobs created by Boeing at RAF Lossiemouth.
- Defence and clean energy commitments, part of the UK Government's Plan for Change, will provide jobs and build thriving communities from Aberdeen to the Clyde.
The UK Government is investing in defence and clean energy to protect existing jobs and create thousands more, while keep the UK secure. Increasing defence spending to 2.6%, could lead to around 0.3% higher GDP in the long run, equivalent to around £11 billion of GDP in today's money, according to government estimates.
RAF Lossiemouth shows how investment in defence delivers for ordinary families. The Moray base has undergone a huge transformation in recent years and military personnel and civilian workers now work together keep our fighter jets and sub-hunting aircraft in the air. The addition of three new E-7 Wedgetail aircraft to the RAF's fleet will see even more jobs created by Boeing at the base, where the Chancellor will meet with some of the over 200 Boeing teammates who work alongside RAF personnel.
Chancellor, Rachel Reeves said:
We're seizing the huge potential and opportunities that Scotland has on offer. Whether it's in defence to keep the UK safe, or clean energy to power all corners of the country, this government is backing Scotland with billions of pounds of investment to grow the economy and create jobs.
Scottish Secretary, Ian Murray said:
The UK Government is investing in defence to ensure Britain's security and deter our adversaries and drive economic growth.
This investment is a massive jobs opportunity for Scotland - this 'defence dividend' is good news for Scotland, where it will help create skilled jobs, drive economic growth and help tackle the critical skills gaps facing the country in sectors such as nuclear, construction, maritime and project management.
The Spending Review also saw investments that will make Scotland the home of the UK's clean energy revolution. While Acorn is still subject to final investment decision, this £200 million is just the beginning to this government's commitment to investing in Scotland and has the potential to safeguard 18,000 North Sea jobs whilst creating 15,000 new ones in Scotland's clean energy transformation.
Great British Energy will also be headquartered in Aberdeen, to drive clean power generation across the UK. Boosting homegrown energy will also make the UK more secure.
The Chancellor's visit comes as defence spending rises to 2.6% of GDP and figures from 23/24 reveal that MOD spend maintains 26,100 skilled jobs across Scotland. The Spending Review also committed £250 million to secure the future of HMNB Clyde - the first stage of a multi-decade, multi-billion renewal project and all three Clyde shipyards are currently fulfilling contracts for the Royal Navy.
