Introduction

The Scottish Futures Trust (SFT) is an independent company established by the Scottish Government in 2008 with a responsibility to deliver value-for-money across all public infrastructure investment in Scotland.

For its size and population, Scotland has one of the largest Public Private Partnership infrastructure investment programmes anywhere across Europe. The 2011/12 Scottish Budget gave SFT responsibility to deliver an additional £2.5bn pipeline of projects - to be paid for as they are used from future revenue budgets - in partnership with the Scottish Government, local government, NHS boards and other public bodies. SFT's role is managing the pipeline of projects in the programme, presenting a properly coordinated face to the market across all investment sectors, challenging procurers and sharing best practice to maximise value-for-money and simplifying contracts and processes to save time and cost in procurement and delivery.

Scotland has pioneered capped private sector profits so that profits properly reflect risks taken and deliver better value for the taxpayer. The entire £2.5bn will be delivered under the Non-Profit Distributing (NPD) structure with delivery risks transferred to private partners under capped profit arrangements.

It is in this context that the SFT has submitted evidence in response to HM-Treasury's call. The evidence is published here in full with no redactions.

Further information on the work of the Scottish Futures Trust can be found on our website: http://www.scottishfuturestrust.org.uk

Peter Reekie
Director of Finance and Structures
peter.reekie@scottishfuturestrust.org.uk
0131 510 0800