MSP is banking on economy boost
JONATHAN GEDDES
Rutherglen MSP Clare Haughey has claimed that the new Scottish National Investment bank will help encourage economic growth across South Lanarkshire and “transform” local communities.
The Bill to introduce the body was formally agreed in Holyrood last week, creating a new bank that provides financing primarily for the purposes of economic development of the country.
MSPs from all parties gave their backing to the Scottish Government’s blueprint for the institution that will begin investing in businesses and communities later this year, with a commitment of at least £2 billion in its first ten years.
Ms Haughey told the Reformer: “The Scottish National Investment Bank will help us reach our worldleading climate change targets while also transforming communities here in Rutherglen and Cambuslang.
“Small businesses are the backbone of our local economy, that’s why the bank will invest in firms and community projects that are looking to play their part in tackling the global climate emergency.
“Individuals, and small local businesses, the length and breadth of Scotland are set to benefit from this historic move as we move towards a low carbon economy fit for the future.”
Ms Haughey added: “I am really looking forward to seeing the bank’s impact across Scotland.”
The bank is expected to have an important role to play in helping Scotland meet its climate change targets – forming part of the Scottish Government’s Green New Deal to kick-start investment and build the momentum needed to reduce emissions and create high quality jobs in the process.