Local MSP Tom Arthur has said that SNP plans to establish a Scottish National Investment bank will help encourage economic growth across Renfrewshire and East Renfrewshire

This week in Holyrood, MSPs debated the Scottish Government’s blueprint for the investment bank that will begin investing in businesses and communities from 2020 – committing to invest at least £2 billion in its first ten years. Earlier this month, the First Minister also confirmed plans for an initial investment in the bank of £130 million this year during the Programme for Government.

The bank will have an important role in helping Scotland meet its ambitious climate change targets – forming part of the SNP’s Green New Deal to kick-start investment and build the momentum needed to reduce emissions and create high quality jobs in the process.

Commenting, SNP MSP Tom Arthur said:

“The Scottish National Investment Bank has enormous potential to transform communities here in Renfrewshire South and ensure Scotland’s economy is fit for the future.

“Operating within a core set of principles, the bank will help us reach our world-leading climate change targets by upping investment in businesses and community projects that are looking to play their part in tackling the climate crisis.

“We know that small businesses are the backbone of our local economy across Renfrewshire South and this bank will become a cornerstone in Scotland’s economic architecture, supporting businesses and driving Scotland towards a low carbon economy.”

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