Despite record employment levels and high growth rates for 2015, Britain’s renewable energy sector looks set to suffer from repeated policy interventions that have “blind-sided” the industry, a new report from the Renewable Energy Association (REA) has claimed. The REView 2016 report, released on Tuesday (7 June), reveals that impressive growth
Prefab concrete specialist ABM has upgraded its facility in Newark, Nottinghamshire to enable production of larger and heavier bridge beams. Above: ABM says it can now produce the largest bridge beams in the UK ABM can now manufacture U and W section pre-stressed concrete bridge beams of up to 120
As the shock subsides the fallout of last week’s vote to leave the European Union is now under the spotlight. As bond yields slide to record lows, housebuilder’s share prices tumble and a number of development projects are reassessed, EG will be analysing what it means for the property industry.
Construction work has begun already for 72 new affordable homes in Kettering Housing developer, Westleigh, has addressed the increasing demand for housing in the county with Northampton, Wellingborough, Kettering and Corby set to gain a combined total of 250 new affordable homes over the next two years. Westleigh is working
Westminster City Council has introduced a levy on the construction of basement extensions. Homeowners in the Lonodn borough wishing to extend their property underground will now have to pay an extra £8,000 on average, up to £30,000 for larger developments to fund the council’s new ‘subterranean squad’ of basement monitors.
The latest round of successful applicants for the Skills and Training Fund has been announced by the Construction Industry Training Board (CITB). The fund, which is part of CITB’s Flexible Fund, grants up to £5000 for levy payers with fewer than 50 employees, to provide skills and training to their
As the Borders Railway celebrates its first anniversary, new research from Savills reveals the positive influence it has had on the residential market along its line. The new railway, which runs from Edinburgh Waverly to Tweedbank in the Scottish Borders, carried its first passengers on 6th September and was officially
The University of Sunderland has been transforming its City Campus through a series of landmark building projects. The University has close links with industry, and is internationally recognised for its strong track record in pharmacy, pharmaceutical sciences, biomedical sciences and environmental sciences. The University of Sunderland has been transforming its
Willmott Residential has been given the green light for a 188-home development in north London. The firm’s residential sales brand Prime Place has been given approval for its Millbrook Park development in Mill Hill, Barnet. The 1.1 ha site will deliver 159 homes for private sale and 29 homes for
The value of sales in the Scottish commercial property market has increased by £200 million in the second quarter of 2016 to £819m despite a 13 per cent fall in investment values to £382m, according to new statistics. Investment figures from CoStar UK and sales figures from Registers of Scotland, which have
Despite record employment levels and high growth rates for 2015, Britain’s renewable energy sector looks set to suffer from repeated policy interventions that have “blind-sided” the industry, a new report from the Renewable Energy Association (REA) has claimed. The REView 2016 report, released on Tuesday (7 June), reveals that impressive growth in the renewables industry – which saw its value increase by 4 per cent more than the rest of the UK economy last year – will be slowed over the coming years by “sudden and severe” policy changes. The report reveals that the total market value for the sector in 2015 reached more than £15.9 billion – a £982 million increase and a growth rate of 6.6 per cent. With the rest of the economy growing by just 2.5 per cent the renewables sector has been able to add 4,760 jobs in this timeframe, bringing total employment numbers to 116,788. But, even with renewable energy accounting for 22.3 per cent of the UK’s power in 2015, the lack of movement in heat and transport generation, coupled with political uncertainty, looks set to create a “turbulent” future for industry. “2015 was another record year for British renewables,” REA’s chief executive Nina Skorupska said. “Employment, investment, and deployment increased, while costs fell and the industry continued to mature. It was yet another year where the renewables industry outperformed UK growth rates. “The industry was blindsided this year with over a dozen sudden and severe policy changes, which we expect will be reflected in next year’s report. While many businesses have been left reeling and deployment has begun to slow, as an industry we will persevere, we will innovate, and we will continue to grow.” Heat and transport Despite a record-breaking year both globally and nationally, the UK’s renewables sector has suffered from a “Jenga approach” to green policy that has seen feed-in tariffs (FiTs) slashed and government incentives scrapped. With the government’s lack of direction threatening to cause a renewable “landslide”, the report also reveals the extent of the UK’s renewable heat and transport gap. Despite the 2009 EU Renewable Energy Directive establishing a 12 per cent target for renewable heat generation and 10 per cent target for renewable energy within the transport sector, these latest REA figures reveal that renewable heat generation is sitting at 4.6 per cent, while renewable transport generation is just 3.2 per cent. The transport and heat targets, which have a 2020 deadline, have received minimal incentivised encouragement from policy changes, with a reform of the Renewable Heat Incentive (RHI) potentially creating a 98 per cent reduction in the deployment of non-domestic biomass boilers and an end to support for solar water heating systems in the future. Investor confidence Created in association with Innovas and KPMG, the REA concludes that the damage caused by recent green policy changes from the Conservative government is threatening the UK’s position as a global leader on renewables. FiT cuts have already seen the UK slide out of the top 10 for most attractive renewable energy markets. With a major report from the Energy and Climate Change Committee (ECCC) recently warning that the government is “denting” investor confidence in the renewables market, KPMG has moved to alleviate economic fears, insisting that low installation costs of renewable energy technologies and the increased emergance of new business models look set to drive renewables investment even further in the near future. KPMG’s chair of energy Simon Virley said: “It has been a turbulent year for the renewables sector. But the falling costs of technologies, like solar and storage, mean that exciting business opportunities lie ahead and the sector as a whole can start to move beyond subsidy.” This article first appeared on edie.net Source link
Prefab concrete specialist ABM has upgraded its facility in Newark, Nottinghamshire to enable production of larger and heavier bridge beams. Above: ABM says it can now produce the largest bridge beams in the UK ABM can now manufacture U and W section pre-stressed concrete bridge beams of up to 120 tonnes. For production efficiency, reinforcements and stressing components are prefabricated off line, then craned into the moulds and tensioned prior to the concrete pour. Controlled heating of the moulds speeds the strengthening of the concrete to the point where tensioning can be released. “The new plant is 64 metres long,” said business development manager Mike Sanderson. “With our increased 120 tonnes lift capacity this gives us the capability to produce the largest bridge beams in the UK or multiples of smaller units. “No other pre-cast concrete manufacturer on the UK mainland has the capacity for these large beams, this flexibility and such an extensive product range,” he claimed. This article was published on 10 May 2016 (last updated on 10 May 2016). Source link
As the shock subsides the fallout of last week’s vote to leave the European Union is now under the spotlight. As bond yields slide to record lows, housebuilder’s share prices tumble and a number of development projects are reassessed, EG will be analysing what it means for the property industry. What are the implications for the Northern Powerhouse, major infrastructure projects such as HS2, and the OJEU process? Who is most exposed to EU funding gaps? What does it mean for those looking to raise capital. We will be updating with the answers here in the coming hours, days and weeks. Follow @EstatesGazette NEWS AND ANALYSIS • Segro’s Sleath says ‘game has changed’ post Brexit vote Segro chief executive David Sleath has warned the industry will have to be “extremely selective” about its policy priorities when lobbying a “distracted” government. • Who’s lost out? Property directors’ share dealings under the microscope Directors across the UK property industry rushed to buy shares in their own companies in the face of a market downturn after the Brexit vote. • BoE warns of risks to UK financial stability The Bank of England says the prospect of open-ended funds being forced to sell assets is a risk to the UK’s financial stability. • Aviva is second property fund to suspend trading in wake of Brexit Aviva Investors has suspended dealing on its £1.8bn property fund, becoming the second asset manager to take action in the wake of the Brexit vote. • London resi sees Brexit boost Residential instructions in London trebled in the week following the UK’s decision to leave the European Union, according to estate agents Douglas & Gordon. • Is this the next credit crunch? The UK real estate market faces the prospect of another credit crunch as lenders come to terms with an impending Brexit. • William Newton: We must bridge the UK’s civic gap if we are to attract and retain money and talent The UK has been plunged into a period of uncertainty. From the collapse of the pound, to the ruptured leadership of both the Tories and Labour, the past few days have felt like the greatest upheaval to our country I can remember. • Robert Guest: Sorry, Gove and Brexiteers: The experts are right “People in this country have had enough of experts,” said Michael Gove, one of the leaders of the campaign for Brexit. • Bill Hughes: The EU result leaves Britain in the balance For a lot of people – but clearly not the majority – last Friday was supposed to be just another day. Instead we were immediately faced with the prospect of prolonged uncertainty and, as reality set in, we began to ask ourselves question after question: how did it happen, what happens next, and will life ever be the same again? • Brexit result panic prompts 40% share plunge Housebuilder shares have been some of the securities hardest hit since last Thursday’s vote to leave the European Union. • Alan Carter: Hunger for income has not disappeared The outcome was unexpected, the reaction predictable and rational. The quoted sector rose by 8% in the week ahead of the referendum, and fell by 22% over the next two trading days. • Listed propcos’ share prices crumble on Brexit UK listed property companies suffered huge losses following the Brexit vote and have since only made partial recoveries. • Overseas investors dominated property pre-referendum Overseas investors piled into the UK property sector in the run-up to the EU referendum, according to data from Real Capital Analytics. • Benson Elliot eyes UK for new fund Fund manager Benson Elliot is preparing for a push on UK investments following last week’s EU referendum. • ‘Never-endum’ groundhog day for EU-friendly Scotland Investment volumes in Scotland could plummet again as a result of the turmoil around Brexit and the prospect of another independence referendum. • German and French funds target dublin as investors recalibrate The Irish investment market could benefit from the UK’s impending withdrawal from the European Union. • Up to 100,000 finance jobs could leave UK The City of London faces a post-Brexit exodus of international occupiers as they review the Square Mile’s credentials against those of other EU cities. • End of EU cash forces search for alternatives The EU has ploughed €43bn (£35.4bn) of long-term investment into the UK over the past eight years. Funding recipients have included regeneration schemes, social housing, university investment, skills and infrastructure, many in areas that voted to leave the EU. • Spec schemes reviewed as uncertainty reigns EU referendum: The UK’s vote to leave the EU has called into question the future of millions of square feet of development as the industry pauses in its decision-making amid economic uncertainty. • UK property values forecast to fall by 5% next year UK commercial property values could fall by an average of 4.9% next year and by up to 14.5% in the London office market, according to post-referendum forecasts from Real Estate Strategies. • EU vote leaves funds fighting to halt redemptions UK property funds are in a state of flux as they struggle to determine fair valuations following the UK’s decision to leave the European Union. • C&W research says Scottish investment could plummet EU referendum: Investment volumes in Scotland could plummet again as a result of the turmoil around Brexit and the prospect of another independence referendum. • Fears for Northern Powerhouse as focus shifts to Brexit deal The Northern Powerhouse is at risk if the government shifts its priority to devolving powers from Brussels to Whitehall instead of driving growth in UK cities, the industry has warned. • Murray promises ‘certainty’ for housing industry post-Brexit London’s deputy mayor for housing, James Murray, has warned that Brexit will make it harder to fix the housing crisis, but pledged to do all he could to give the industry more certainty. • The EU result leaves Britain in the balance For a lot of people – but clearly not the majority –
Construction work has begun already for 72 new affordable homes in Kettering Housing developer, Westleigh, has addressed the increasing demand for housing in the county with Northampton, Wellingborough, Kettering and Corby set to gain a combined total of 250 new affordable homes over the next two years. Westleigh is working in partnership to deliver the affordable homes with Waterloo Housing Group, Riverside Housing Association, Spire Housing and emh group, together with Northamptonshire Borough Council, Kettering Borough Council, Corby Borough Council and Borough Council of Wellingborough. Gary Turner, Head of Investments and Partnerships at Westleigh, said, “These seven developments in the county of Northamptonshire are an excellent example of our commitment to providing much needed, high quality affordable homes. Each of the developments has been made possible as a result of our strong working partnerships with the local councils and housing associations and we look forward to continuing to deliver affordable homes to meet demand in the future.” Source link
Westminster City Council has introduced a levy on the construction of basement extensions. Homeowners in the Lonodn borough wishing to extend their property underground will now have to pay an extra £8,000 on average, up to £30,000 for larger developments to fund the council’s new ‘subterranean squad’ of basement monitors. The levy is as part of the council’s new code of construction practice, clearly sets out best practice for building sites such as basements. The code will also be rolled out over the coming months to cover larger developments in the city. Over the last five years Westminster City Council has received on average 150 applications a year and has seen a trend towards more ‘iceberg’ basements where homeowners dig down two or more storeys. The new rules include planning controls limiting basements to a single storey and no more than 50% of total garden land. The new ‘subterranean squad’ will: make sites coordinate their deliveries to reduce the impact on residents check that developers are keeping neighbours informed enforce stricter working hours so as to avoid noisy works at inconvenient times such as Saturday mornings provide a point of contact for residents with complaints – with the power to enforce against overly noisy sites under statutory powers monitor the level and impacts of traffic to sites police development sites of over 10 residential units, or over 1000 m2 commercial floorspace. Westminster City Council deputy leader Robert Davis, cabinet member for the built environment, said: “We are sticking up for local residents, many of whom have found the explosion of basement development in recent years hellish. It is right that those who want to build basements should contribute to this new service, which will work to help mitigate the negative impacts. “Westminster City Council supports the right kind of growth and is not against all basement development, but they must be carried out in a way that is considerate to local residents and the environment.” The new powers will apply to basements that gained planning permission from August 2016 onward, and other major development schemes from September. This article was published on 6 Sep 2016 (last updated on 6 Sep 2016). Source link
The latest round of successful applicants for the Skills and Training Fund has been announced by the Construction Industry Training Board (CITB). The fund, which is part of CITB’s Flexible Fund, grants up to £5000 for levy payers with fewer than 50 employees, to provide skills and training to their workforce. To date, 104 successful applicants have received £442,268 in funding. This round, all 60 small and micro construction firms, who were eligible for funding had their bids approved. Four of the bids were successful this round having failed previously. The CITB funding team gave direct support to these firms, helping them to build a stronger case for their application. For seven firms, it was the first time they had applied for funding, having just registered with CITB. Newly registered companies are able to apply for the Skills and Training Fund and for Apprenticeships as soon as they register, without any delay. For three of the firms – Skippy Construction, R J Cadman and R J H Homes – it was the first time they had ever claimed CITB funding, despite being levy payers for some time. One successful bidder is Fourply Construction, a Glasgow-based property maintenance firm, set to receive £5000 in CITB funding. The money will contribute to a business improvement training programme for 16 staff members. Alan Morris, Director of Fourply Constructions, commented: “I can’t thank CITB enough. I found the application process simple and straightforward and the support I had from staff over the phone was excellent. “They helped me and updated me every step of the way. The money will make a huge difference to the business.” [Click to tweet] Other successful firms include Northumberland based firm, W L Straughan and Son, which specialises in outdoor maintenance and landscaping and will receive £4633. The company’s director is nearing retirement so the money will support a succession planning training programme for staff to learn how to successfully take over the business. Chartered surveyors from Southport, Paul Ennis Construction Services, will receive £5000 in funding for a project to provide eight staff members with leadership training. Hull-based education furniture specialists, Sangwin, will also receive £5000. The funding will provide an introductory BIM course for 35 staff to provide everyone with an understanding of what BIM is, the drivers for its implementation and the benefits this technology offers. Geeta Nathan, Head of Economic Analysis at CITB, said: “It’s excellent to see so many firms looking to CITB to help them improve their business by providing their staff with the skills and training they need. “With our simplified funding process and support staff who are willing to help you every step of the way, I encourage even more firms to apply for funding when the next round opens later this month.” More information on our next funding window and how to apply is available on our Flexible and Structured Fund page. Source link
As the Borders Railway celebrates its first anniversary, new research from Savills reveals the positive influence it has had on the residential market along its line. The new railway, which runs from Edinburgh Waverly to Tweedbank in the Scottish Borders, carried its first passengers on 6th September and was officially opened by Her Majesty the Queen three days later. Overall, the number of transactions along the line has increased by 15% since it opened and there has been a modest increase in values. The Borders has long been one of Scotland’s best kept secrets compared to East Lothian, which has benefitted from its own local commuter rail link. But whereas East Lothian has golf courses and beaches the Borders has rolling hills, green valleys and pretty settlements along the Tweed river, and offers comparative value for money. The closest settlements to Edinburgh along the line are Eskbank, Newtongrange and Gorebridge, all of which now have their own station and direct link to the capital, and the availability of the new railway has certainly increased the appeal of these new suburban locations. They have benefited from the long-standing undersupply of affordable family housing within Edinburgh and the fact that developers began building in anticipation of the new line. New sites are now well established with new owners using the commuter train to Edinburgh. Transactions have increased by an average of 26% when we compare the first half of 2015 with the same period this year. Eskbank in particular has witnessed significant increase in transactions; increasing from 35 to 57 and values have increased by 9% reaching an average of £302,785. Likewise Newtongrange has witnessed a fall in the number of transactions but values have increased by 17% suggesting a lack of supply in and around this stop. The Borders village of Stow is the only stop in the middle of the train line and the surrounding area has had a very positive year, with transactions increasing 26% to 48 and the average value by 11% reaching £136,822. Moving deeper in to the Borders, the train stops in the market town of Galashiels, the key commercial centre and central communication point for the Scottish Borders. The town is known for textile manufacturing, rugby and is the location of Heriot-Watt University’s School of Textiles and Design. It has its own cinema, a number of restaurants and varied housing, from large detached period town houses to new build developments, and there are some imposing country homes in the surrounding areas. The town has seen an increase in house sales to 50 this year. Meanwhile, average values have fallen back slightly, reflecting the lack of million pound sales since the introduction of LBTT which has penalised the top end of the market. The impact of LBTT has also rippled out to Melrose which, with its private preparatory school, restaurants and array of independent delis, boutiques, antique shops, has traditionally been a hub for prime property. Tweedbank, with its park and ride facility, is the last stop on the Scottish Borders line and serves communities throughout the southern Borders area, including St Boswells. With its pretty cricket pitch, lovely white washed cottages, primary school and approved development plan for new housing, this popular Borders village has seen an active property market over the course of the year, with the number of transactions increasing from 17 to 24 sales, and average values increasing by 5% reaching £198,831. Anna Gardiner of Savills Country Houses team said: “The Borders Railway was eagerly anticipated by existing residents, looking to access all that Edinburgh has to offer from jobs, highly regarded schools and vibrant culture. Equally, there was latent demand from developers and buyers, particularly those with growing families, who had been priced out of an overheated Edinburgh market. Visit Scotland also reported an upturn in tourism since the opening of the railway, an important part of the local economy, with increased visitor numbers to, for example, Melrose Abbey and Abbotsford House, the former residence of Sir Walter Scott. “Originally from the Borders myself, it has been wonderful to see the glorious countryside from a different angle from the train. Just over fifty minutes from start to finish, it quickly leaves Edinburgh behind and transports passengers towards a pretty landscape of heather-covered hills, church spires, fertile farmland, and attractive houses strung out along the River Tweed. The Scottish Borders were always picturesque, but the new rail link is shining a spotlight on the Borders and buyers are now beginning to realise its many attributes.” Source link
The University of Sunderland has been transforming its City Campus through a series of landmark building projects. The University has close links with industry, and is internationally recognised for its strong track record in pharmacy, pharmaceutical sciences, biomedical sciences and environmental sciences. The University of Sunderland has been transforming its City Campus through a series of landmark building projects. The University has close links with industry, and is internationally recognised for its strong track record in pharmacy, pharmaceutical sciences, biomedical sciences and environmental sciences. Building on this position, the University has invested £8.5 million to remodel its Sciences Complex to provide some of the most modern, well-equipped facilities in the UK. Delivered by main contractor Clugston Construction, phase one of the Complex was opened by renowned Professor of Science Lord Robert Winston. Since then, dated offices and science areas have been transformed into integrated, multi-disciplinary teaching laboratories with large preparation spaces.Baffles and ceiling tiles from Knauf AMF were chosen for their superior quality, outstanding acoustic control and fire resistance. Paul Barrowcliffe of Clugston Construction explains how Knauf AMF helped satisfy the client’s criteria. “We changed the ceiling specification to Knauf AMF to give the client a high quality product that was within budget. Everything arrived on time which helped us to meet the tight deadline for the build. The client is very pleased with the finished laboratories.” Ceiling contractor, A.S. Crocker recommended Knauf AMF for the project as Director Phil Wilson explains:“We have worked with Knauf AMF products in the past and found them to be keenly priced, able to deliver on time and always fulfil the given criteria. I have no problem recommending Knauf AMF and their products.”The laboratories are large areas fitted with a number of hard materials, including glass and concrete, which can create poor acoustics. To counter this, Knauf AMF baffles were installed to provide the necessary sound absorption, helping reduce the level of reverberation and improving speech intelligibility. The baffles are a versatile solution for controlling sound. By varying the distance between the rows of baffles, or changing the size of the baffles, different acoustic performances can be achieved. Knauf AMF baffles are also ideal for enhancing acoustics in thermal mass areas or where frequent and unhindered access to services is required.Each baffle consists of two sound absorbing panels sat back-to-back in a frame. The panels are durable and offer excellent fire resistance. The surface is smooth and has an elegant appearance. For design freedom, both the frame and the panel can be specified in a range of colours. Each baffle is suspended by discreet cable hangers which creates the impression of a weightless, elegant structure, enhancing the modern design of the laboratories.Thermatex Alpha Hygena suspended ceilings are installed above the baffles to provide additional Class A sound control. The smooth white surface gives these ceiling tiles an elegant appearance that fits aesthetically with the interior design of the laboratory. Hygena has an anti-microbial coating which can resist bacteria and fungi making it an ideal ceiling for hospitals, healthcare facilities, kitchens and laboratories. Knauf AMF have years of expertise of working with projects that have complex specifications and tight deadlines. The team at Knauf AMF are available to offer advice. To chat about your project or to order samples, contact info@knaufamf.co.uk or visit www.amfceilings.co.uk Source link
Willmott Residential has been given the green light for a 188-home development in north London. The firm’s residential sales brand Prime Place has been given approval for its Millbrook Park development in Mill Hill, Barnet. The 1.1 ha site will deliver 159 homes for private sale and 29 homes for affordable rent. Prime Place managing director Brian Brady said: “Millbrook Park is an ideal fit for Prime Place’s strategy of providing outstanding homes in popular locations and close to excellent transport links. “We are delighted to achieve approval from Barnet Council and anticipate starting work on site very soon.” Willmott Residential launched in May, after Willmott Dixon merged its two residential divisions into one. Willmott Dixon had operated separate housing and regeneration businesses, but the two were combined to form Willmott Residential. The regeneration arm includes private rented sector specialist be:here and Prime Place, which develops homes for sale. Elsewhere, Prime Place is working with Westminster City Council to create leisure facilities at no cost to the council through cross-funding the creation of 156 homes. Be:here is finalising 118 PRS homes at the Old Vinyl Factory site in Hayes and has planning permission for nearly 600 homes in Barking. Construction News understands Willmott Dixon is considering floating its residential business to raise capital and significantly expand the division. An IPO is understood to be the preferred option, although the company has not ruled out a sale of the business, with a decision expected at the end of the year.
The value of sales in the Scottish commercial property market has increased by £200 million in the second quarter of 2016 to £819m despite a 13 per cent fall in investment values to £382m, according to new statistics. Investment figures from CoStar UK and sales figures from Registers of Scotland, which have been analysed by the Scottish Property Federation, show a continuation of the overall downward trend in investment transactions since the end of 2014. Edinburgh delivered the highest value of sales across Scotland, worth £223m, an increase of 68 per cent from the seasonally low Q1 figure of £132m. Glasgow also had a strong quarter with total sales of £197m, including some significant retail deals in the city centre. The Aberdeen market rallied somewhat, as it continues to readjust in light of the changes in the energy industry since autumn 2014. The value of sales doubled to £51m in Q2 from £25m in the previous quarter, when the Granite City was outperformed by Renfrewshire, South Lanarkshire and Fife. Of the £382m of sales classed as investment, the office sector saw the bulk of investment in the quarter with around £205m worth of deals, while retail received £120m. Industrial investment came in at around £20m and around £40m can be attributed to mixed use deals and other commercial transactions. Last month analysis from Knight Frank revealed a robust take-up of deals in Edinburgh’s commercial property market despite subdued market sentiment while the Royal Institute of Chartered Surveyors (RICS) also reported a significant drop in confidence and investor demand following the Brexit outcome. David Melhuish, director of the Scottish Property Federation, called for the Scottish Governmentand industry to address the downward trend of inward investment. He said: “We generally expect an increase in activity in the second quarter of the year after the traditionally low post-Christmas period, and it is good to see that sales held up in the run up to the EU referendum. The continued downwards movement of the investment market should not be overlooked though, and is a trend that is likely to continue into the next quarter. “Scotland’s commercial property market relies considerably on inward investment, and as we face an ongoing period of uncertainty, it is more important than ever that government and industry work together to encourage investment in our sector, which is a significant contributor to the Scottish economy.”
