THE Scottish Government will provide up to £50 million of cash for a new competition as part of efforts to transform the country in the wake of the Covid pandemic.
Finance Secretary Kate Forbes announced details of the national challenge competition as she promised more support for some of the businesses that have been hardest hit by the pandemic.
Firms which are unable to open due to being under level 2 restrictions will be given access to an additional £12m of support, Forbes announced.
She said: “Businesses who were expecting to open or see reduced restrictions as a result of moving to level 1, who will now remain in level 2, will receive weekly support similar to the strategic framework business fund.
“There will also be additional discretionary funding.”
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The details of the funding are expected to be published later today.
Forbes said a further £40m will support the culture sector, while more money for taxi drivers will be made available, with additional funding of up to £62m.
The Finance Secretary said that the Scottish Government has now provided more than £90m to taxi drivers – with all drivers who previously received a £1500 grant to be handed a second payment this month.
Taxi operators will also receive tiered grants through local authorities – with some receiving up to £15,000.
But Unite Scotland claimed the vast majority of operators would receive significantly less than £10,000, as firms with fewer than ten cars are in line for smaller grants.
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Unite has asked the Scottish Government for £10,000 grants for each taxi operator irrespective of size, which is the equivalent support being given to all other small business owners.
The £50m pot was announced as the Finance Secretary spoke out about the Scottish Government’s ambition to “rebuild and restore the economy”.
She said: “I very much hope though, one day soon, all the restrictions will be a thing of the past.
“And with such freedom comes the opportunity to rebuild and restore the economy.
“And our mission as a Government is this – to create the best conditions for entrepreneurs to seize the opportunities to produce, to invent and to scale up, and in so doing create secure and satisfying jobs that pay a fair wage.”
Forbes went on: “Getting that right will combat poverty, will lead to better health and social outcomes and will generate the public revenue to invest in the best public services.”
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She insisted the Government was “committed to being pro-prosperity, pro-growth and pro-business” as she promised a new 10-year strategy for economic transformation will be produced in the next six months.
Ministers will also establish a new Council for Economic Transformation bringing together economists with industry leaders, trade unions and others.
The Finance Secretary added: “Pioneers and entrepreneurs will be the bedrock of this transformation, and we will deliver a national challenge competition, providing funding of up to £50 million to the projects, or projects with the greatest potential, to transform Scotland.”
She said: “This is an official invitation to the entrepreneurs and the thinkers, the job creators and the hard workers. We need you, work with us to make Scotland thrive.”
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