STRONG START FOR SCOTTISH NATIONAL INVESTMENT BANK
Colin Beattie MSP for Midlothian North and Musselburgh has said that SNP Budget plans to ensure a strong start for the Scottish National Investment Bank, and its mission to drive the transition to a net zero economy, will encourage economic growth across Midlothian and East Lothian.
The 2020/21 Budget, set out by SNP Finance Minister Kate Forbes, will provide £220 million of fresh seed funding to help Scotland meets its ambitious climate change targets, by financing companies and projects in Midlothian and East Lothian which are working towards the achievement of net-zero emissions.
The Scottish National Investment Bank is on track to become fully operational during 2020 following parliamentary approval at Stage 3 of the Bill in January 2020.
Commenting, SNP MSP Colin Beattie said:
“The Scottish National Investment Bank has the potential to transform communities here in Midlothian and East Lothian, help us reach our world-leading climate targets, and ensure Scotland’s economy is fit for the future.
“Operating within a core set of principles, the bank will increase investment in local businesses and community projects in Midlothian and East Lothian that are looking to play their part in tackling the climate crisis and reach net-zero emissions.
“We know that small businesses are the backbone of our communities in Midlothian and East Lothian, and I hope that opposition MSPs can get behind these plans to support business, boost our local economy, and drive Scotland towards a low carbon economy.