Holyrood committee seeks views on Scottish National Investment Bank proposals

Gordon Lindhurst MSP

Views on a proposed national long-term investment bank are being sought by the Scottish Parliament’s Economy, Energy and Fair Work Committee as part of a new inquiry into the Scottish National Investment Bank (SNIB) Bill.

The Bill was introduced to Holyrood on 27th February, and grants the powers required to establish the bank. The Committee is now exploring whether the bank will help support economic growth in Scotland and what strategic direction it should take.

The Convener of the Economy, Energy and Fair Work Committee, Gordon Lindhurst MSP, said: “We are launching an inquiry into a new Bill to establish the Scottish National Investment Bank. Its role will be to make long-term investments in Scottish businesses in order to boost the economy.

“We have heard from economists that this national investment bank should be ‘mission-led’ and focused on ‘patient capital’. The Committee would very much welcome your views on these and other aspects of the Bill.”

As part of the inquiry, the Committee will scrutinise the rationale for the bank, the objectives and focus of investment activities, operational costs and its organisational structures.

The committee is now seeking the views of individuals and stakeholders on:

• What are the advantages or otherwise in establishing the Bank as a public limited company?
• What are the fundamental characteristics of a national investment bank?
• Is the level of capitalisation proposed sufficient for the Bank to deliver its desired impact? 
• What should the proposed costs in the set up and day-to-day running of the Bank be?
• What governance arrangements ought to be in place?
• How can we ensure the market is ready for the investment opportunities the Bank can offer?
• What ethical and equalities considerations should inform the Bank’s ethos and decision making?
• It is proposed that the Scottish Government will set the strategic direction of the Bank but the body itself decide on its investment approach. What is your view on this “mission-led” approach?

The call for written views will close on Friday 3 May 2019.

Written responses should be sent electronically, in the template format to economyjobsandfairwork@parliament.scot

Further information on the call for views can be found here.