LOCAL MSP BACKS PLAN TO GROW FIFE ECONOMY - STRONG START FOR SCOTTISH NATIONAL INVESTMENT BANK

Published date : 19 Feb 2020

 

Jenny Gilruth, MSP for Mid Fife and Glenrothes, 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 Fife.

 

The 2020/21 Budget, set out by SNP Finance Minister Kate Forbes, will provide £220 million of fresh seed funding to help Scotland meet its ambitious climate change targets by financing companies and projects in Fife that 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.

 

Jenny Gilruth MSP said:

 

''The Scottish National Investment Bank has the potential to transform communities here in Mid Fife and Glenrothes, 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 Fife 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 Mid Fife and Glenrothes, 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.''

 

ENDS

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