Chancellor Rachel Reeves to visit Greenock port after tax-raising Autumn Budget

The chancellor is set to visit Greenock port after her tax-raising Budget announcement last week.

Rachel Reeves will visit Inchgreen Port dry docks on Thursday to see first-hand how money from the UK Government’s Growth Mission Fund will transform the vacant dry dock.

The chancellor’s Budget promised a £20m investment to renew infrastructure at Inchgreen, building on £9.77m from the Glasgow City Region Deal.

The HM Treasury has stated that it will create up to 1,750 jobs – including 350 direct roles and between 600 and 1,400 indirect positions – in one of Scotland’s most deprived areas.

“Investment in Scotland’s industry is an investment in Scotland’s future,” Reeves said ahead of her visit.

“The UK Government is supporting businesses that are the backbone of this great nation and creating opportunities in every community.

“That includes thousands of good jobs in Greenock and long-term certainty for oil and gas as we put Scotland at the heart of our clean energy revolution.”

The Greenock visit is part of Reeves’ “post-Budget growth drive”.

Just last week, she scrapped the two-child benefit cap among a raft of tax and spending changes announced in the UK budget.

She also announced an extra £820m for the Scottish Government alongside a £14m investment in low-carbon technology at Grangemouth, £20m to renew infrastructure at Inchgreen, and £20m to redevelop Kirkcaldy town centre and seafront.

Her Budget choices also raised taxes by a total of £26bn.

Justifying her decisions, Reeves said she needed to build more “headroom” in the economy.

However, the chancellor has been accused of “misleading” the public over the state of the UK’s finances ahead of the Budget.

Labour ministers have denied the suggestion, with chief secretary to the Prime Minister Darren Jones saying there was a “funding gap” that needed to be addressed.

The UK Government said an Office for Budget Responsibility (OBR) forecast showing a £4.2bn surplus against Reeves’ borrowing rules did not take into account policies like the welfare reform U-turn or the abolition of the two-child benefit cap.