SNP burn through ScotWind cash in record time

Scottish Liberal Democrat leader Alex Cole-Hamilton has today accused the SNP of burning through money generated by the sale of Scotland’s sea bed for energy generation in record time, as the Finance Secretary conceded that more than 80% of the cash from 10 year option fees had been spent within just three years.

In response to parliamentary questions from Mr Cole-Hamilton, Finance Secretary Shona Robison has confirmed that the Scottish Government are expecting to have spent £606m of the initial £756m ScotWind cash for 10-year option fees by the end of year 3. At the current rate of spending, they will burn through the last £150m in year 4 (2025/26).

Ms Robison also confirmed that the government aren’t expecting further income from the project until Year 10.

Responding, Alex Cole-Hamilton said:

“The Scottish Government sold Scotland’s prized sea bed on the cheap and now it looks like all the money will soon be gone.

“For years nationalist politicians have sulked that we should be like Norway with their vast oil fund but the first chance they get to kickstart something similar, they burn through the money in record time.

“Perhaps this is deliberate. The SNP’s political prospects are declining so they only care about the short-term. They would rather use all the cash to paper over their financial mismanagement instead of leaving money for anyone else after the next election."