Deputy FM exploring public-private partnerships to catalyse investment

Deputy First Minister Kate Forbes is exploring public-private partnerships and a Scottish bond as the Holyrood government looks to stimulate investment.

Ms Forbes is taking on an additional role as ‘Investment Champion’ to remove barriers and explore new financing models.

She will work across government departments and consider a number of options, including public sector guarantees.

The Scotland Act 2016 devolved powers to Scotland to allow the issuing of government bonds for capital investment. In that year the City of Aberdeen borrowed £370 million via a bond.

Under its latest plans, the government will create a single portal for investment inquiries and another detailing investment opportunities, as well as a new Cabinet sub-committee to co-ordinate activity.

Addressing the Investment Association conference in Edinburgh, Ms Forbes said: “Increasing the level of private investment into Scotland’s economy is essential to our ambitions – for growth, for jobs, for reaching net-zero, and for improving our public services.

“Without investment and the growth it can catalyse, we can achieve none of those goals.

“I will be working to tackle barriers and blockers; and to ensure that the system as a whole works cohesively, effectively, and quickly, to support investors and to deal with issues as and when they arise.

“Scotland has the talent, skills and resources in abundance to be a major player in the energy transition and secure a prosperous and sustainable future.

“We need to work better, smarter, and quicker to ensure that we can create an investor-friendly environment and seize the many opportunities which lie ahead.”

Read more here