Date lodged: 4 March 2019
To ask the Scottish Government how much has been spent on preparations for the creation of a Scottish National Investment Bank.
Answered by: Derek Mackay 18 March 2019
At the end of the current financial year 18-19 the Scottish Government will have spent £4 million to support the establishment of a Scottish National Investment Bank. The Bank will be operational in 2020 providing a cornerstone institution in Scotland’s economic architecture supporting businesses across all stages of the business growth lifecycle and financing infrastructure to secure private sector investment.
The Financial Memorandum published alongside the Scottish National Investment Bank Bill details estimated costs for the establishment of the Bank and can be accessed via the following link : Scottish National Investment Bank Bill Financial Memorandum .