好色先生TV

Scotland鈥檚 transport minister admitted to the Scottish parliament last week that he had no idea how his government was going to pay for a 拢300m motorway bypass in Aberdeen.

Stewart Stevenson鈥檚 admission was the latest blow to the Scottish Futures Trust (SFT). The SFT, which was expected to be the procurement route for the motorway, was introduced by the Scottish government as a replacement for PFI last September. It was intended to finance large capital projects.

Alex Salmond, Scotland鈥檚 first minister, insisted PFI cost taxpayers too much. The SFT, which operates on a not-for-profit basis, is intended to save money by limiting the returns private investors can make.

So far, the SFT has failed to put a single project out to tender. Frustrated by the lack of progress and alarmed by the effects of the recession, there is growing demand in Scotland鈥檚 construction industry for a return to PFI.

Grahame Barn, director for Scotland at the Federation of Master Builders, said: 鈥淲e need to revert to PFI until the economic crisis is behind us and the SFT model is robust enough to attract investment. The government keeps saying 鈥榳atch this space鈥�, but nothing is happening. It鈥檚 scandalous.鈥�

His views were echoed by Michael Levack, chief executive of the Scottish 好色先生TV Federation. 鈥淭here鈥檚 a massive void in projects coming through and something needs to happen now,鈥� he said. 鈥淭he industry is at breaking point.鈥�

The SFT has been dogged by controversy since it was unveiled. It had been in development for almost two years, but a chief executive was only appointed last month. Barry White, the former managing director of BAM Group UK鈥檚 PPP division and previously a critic of the not-for-profit model, finally started his 拢180,000-a-year job last Friday.

There鈥檚 a massive void in projects coming through. The industry is at breaking point

Michael Levack, Scottish 好色先生TV Federation

Meanwhile, figures released by the Scottish parliament earlier this year showed that more than 拢4m had been spent on the SFT even though its board, chaired by financier Sir Angus Grossart, has met only twice.

Levack said: 鈥淚鈥檝e tried to contact Sir Angus to discuss the SFT, but nobody has bothered to get back to me. The situation is becoming ridiculous. Nobody in the government seems to know what鈥檚 happening.鈥�

An Edinburgh-based banker, who has financed and put PFI deals together, said: 鈥淏anks and other funders would be more confident about coming back into the market if these schemes were PFI. Funders were comfortable with the risk of PFI. They鈥檙e not comfortable with risk of the SFT: it鈥檚 that simple.鈥�

Despite the uncertainty, Scottish parliament insiders said the government was due to announce some 鈥減athfinder schemes鈥� worth between 拢2m and 拢5m in the Highlands and the Lothian and Borders areas this week.

But even these small projects will not get to site until later next year. There are still no signs of any large-scale schemes being put out to tender and the government has abandoned plans to use the SFT to fund large transport projects such as the new Forth crossing as well as the Aberdeen scheme.

A Scottish government spokesperson said: 鈥淭he SFT will be used for a school project later this year. We have a massive 拢35bn infrastructure investment programme over the next decade 鈥� that鈥檚 拢3.5bn this year alone on roads, schools and hospitals right across Scotland. Estimates suggest this will support 52,000 jobs in the Scottish economy. The SFT has a pivotal role to play.鈥�

Unfortunately, as Stevenson pointed out, the government remains unclear about precisely how pivotal the SFT鈥檚 role will be.