Scottish Fuutures Trust
ABOUT US
The Scottish Futures Trust (SFT) is a Limited Company, wholly owned by Scottish Ministers. It was established on 10 September 2008 and is led by a Board of five Non Executive Directors chaired by Sir Angus Grossart. An interim executive team was formed in December 2008 and Chief Executive, Barry White, took up office on 1 May 2009.
SFT has operational independence from the Scottish Government and maintains the flexibility to seek out and pursue opportunities for increased value for money across all infrastructure sectors.
The SFT will learn from international best practice and with its own distinct style and independent ethos deliver value for Scotland. The creation of specialist organisations to support public infrastructure investment has already proved successful: Partnerships British Columbia in Canada, Partnerships Victoria in Australia, Strategic Investment Board in Northern Ireland, NDFA in the Republic of Ireland and Partnerships for Schools in England are all well established in helping procure and deliver public infrastructure. SFT will not simply follow those models but its overall goal of improving value for money is one that is shared. The SFT will lead through innovation and help provide excellent public infrastructure.
SFT’s role is part radical conversion but to a greater extent additional. The conversion role arises from taking over and redirecting some of the activities previously carried out by the Scottish Government’s Financial Partnerships Unit but discharging these duties in a significantly different manner due to SFT’s clear operational independence and greater level of authorised responsibility. The additional roles arise from SFT’s arm’s length structure which gives greater freedom of action and an ability to actively look across sectors and markets in order to bring forward initiatives with an emphasis on cooperation and delivery. Both roles come together and support the over-riding and unwavering pursuit of delivering value for money in all infrastructure investment, working in collaboration with all key Scottish public sector delivery bodies.
SFT’s core activities which either individually or together will drive improved Value for Money include:
Centre of Expertise
SFT will develop its role as the centre of expertise in infrastructure investment in Scotland and will collaborate with others to develop new and better ways of doing things. We will not be bound by existing structures or methodologies but neither will we seek change for change's sake. The SFT team will include professionals from across disciplines, retaining skills and experience in the public sector that will be deployed to add value to significant investment projects and programmes.
Aggregation and collaboration
Improved collaboration in infrastructure planning, procurement, financing and management is an important area where value for money can be improved. One of our key activities is to seek and find opportunities to broker improved co-operation and collaboration between those public bodies that procure or have an interest in infrastructure investment.
Funding and financing
SFT’s work in this area will be directed towards: making more efficient use of the £3.5bn of existing Scottish Government funds; leveraging in additional funds where possible and effectively deploying any additional infrastructure funding made available by central and local public bodies. It is believed that opportunities to increase value for money exist through reducing the cost of finance for infrastructure projects, and in implementing innovative financing structures.
Validation
SFT can add value and confidence in outcomes through validation and third-party assurance on projects and programmes. This role will increase the probability of intended outcomes being delivered while reviewing that risks are appropriately and actively managed.
Delivery
SFT has delivery responsibility for the hub community infrastructure programme, and will act to accelerate its development and launch pilot territory procurements. In other infrastructure sectors, SFT will plan for a delivery role, particularly in the procurement of significant stand-alone projects or programmes where the SFT’s capability, skills and experience can add value.
Further Information
Our website: www.scottishfuturestrust.org.uk
Business Plan: 
SFT Business Plan (pdf: 609Kb)
