鈥淭he passage of the budget provides 拢42.5 billion of investment in our public services and economy delivering for the people of Scotland today, whilst building for our future,鈥� said finance secretary Derek Mackay. 鈥淭his is a budget that ensures stability, sustainability and economic stimulus.鈥�
The budget invests more than 拢825m - as part of a total investment in excess of 拢3bn - to deliver 50,000 affordable homes over the course of the parliament. Other items in the budget include prioritisation for 拢500m to expand funded early learning and childcare through measures including investment in building, refurbishment and extension of around 750 nurseries and family centres. The budgets also includes initial funding of 拢130m towards the establishment of a Scottish National Investment Bank.
Mackay added: 鈥淪cotland鈥檚 economy continues to grow and unemployment is at the lowest on record but our prosperity is being put at risk by the increasing Brexit uncertainty, and in particular the 鈥楴o Deal鈥� scenario. Today鈥檚 Chief Economist report shows that a 鈥楴o Deal鈥� Brexit would be expected to push the Scottish economy into recession during 2019, with the potential for the economy to contract by between 2.5% and 7% by the end of 2019. Such an economic slowdown would risk a rise in unemployment from its current record low, with up to 100,000 more people in Scotland made unemployed.鈥�
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