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Scotland granted £300m capital borrowing powers

The Scottish Government has been granted capital borrowing powers of £296m in the year 2015-16 in a bid to support infrastructure.

Chancellor George Osborne announced the boost to the Scottish devolved administration in today’s spending review, alongside a temporary extension to Northern Irish borrowing powers.

The Northern Ireland Executive will have its capital borrowing limits extended temporarily by £50m to support investment in shared housing and education projects in 2014-15 and 2015-16.

The Welsh Government’s financial accountability and autonomy are also to be considered, with the government finalising a detailed response to the Silk Commission, which recommended a combination of block grant and self-financing.

The government is in discussions with the Welsh Government as to how it can help support a funding solution for the M4 scheme in south Wales.

All three devolved administrations have also been granted a small increase in capital spending power.

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