1 March 2018

First Minister Nicola Sturgeon confirmed that a Scottish National Investment Bank is one step closer, following the publication of the implementation plan.

Implementation plan for creating a Scottish National Investment Bank, developed by Benny Higgins, published today. New bank to be publicly-owned and mission-driven, focused on supporting Scotland’s economic priorities & promoting #inclusivegrowth. https://t.co/b6UIsBQYy3 pic.twitter.com/HirCUFl4Fl

— First Minister (@ScotGovFM) February 28, 2018

The First Minister said:

To realise our ambitions for Scotland’s economy, innovative companies need access to strategic, patient finance to grow and thrive, while the business environment must encourage our young people to be the entrepreneurs of the future. That is why I committed to a publicly-owned national investment bank, which will act as a cornerstone for the economy.”

Watch the video:

Watch the video as implementation plan author Benny Higgins and FM @NicolaSturgeon set out their thinking on the important role a national investment bank will play in supporting the Sottish economy. https://t.co/Z0mzxHYjqP pic.twitter.com/5E9dKr9ak7

— First Minister (@ScotGovFM) February 28, 2018

Reaction to the First Minister’s announcement:

Any country thinking about investment and innovation-led growth, requires long-term high risk patient finance. Congrats to Scotland for taking investment led growth seriously and setting up the Scottish National Investment Bank. Mission oriented! An honour to be a part of this! https://t.co/6Fnf0BFwoX

— Mariana Mazzucato (@MazzucatoM) February 28, 2018