Hansard

The Deputy Presiding Officer (Lewis Macdonald) Lab

The next item of business is a statement by Ivan McKee on a global capital investment plan. The minister will take questions at the end of his statement, so ...

The Minister for Trade, Innovation and Public Finance (Ivan McKee) SNP

Today, the Scottish Government is publishing its first global capital investment plan. I am pleased to outline to Parliament how we intend to pivot to a purp...

The Deputy Presiding Officer Lab

The minister will take questions on the issues that are raised by his statement. I intend to allow around 20 minutes for questions, after which we will move ...

Murdo Fraser (Mid Scotland and Fife) (Con) Con

I thank the minister for advance sight of his statement. I welcome the Scottish Government’s focus on attracting private capital investment to help grow our ...

Ivan McKee SNP

I thank Murdo Fraser for the questions. The answer to his first point is, of course, the pound. With regard to due diligence, the GFG scenario has impacted...

Daniel Johnson (Edinburgh Southern) (Lab) Lab

I thank the minister for advance sight of his statement. At a time of global pandemic, looking forward and looking towards investment are hugely important....

Ivan McKee SNP

Measurement is, of course, hugely important for tracking progress. Mr Johnson will be well aware that I always endeavour to ensure that that is part of any p...

Patrick Harvie (Glasgow) (Green) Green

I am grateful for advance sight of the minister’s statement on global capitalism: it was all very much in character. The minister says that he wants Scotlan...

Ivan McKee SNP

I am not quite sure where Patrick Harvie is going with that question. The reality is that private capital investment is hugely important to Scotland’s econom...

Willie Rennie (North East Fife) (LD) LD

The minister is right that Scotland can offer good opportunities in ethical investment. That strategy might have been of assistance when the Scottish Governm...

Ivan McKee SNP

Willie Rennie follows these matters closely, so he will be aware that we recently published “Scotland’s Vision for Trade”, on which I answered questions in t...

The Deputy Presiding Officer Lab

I ask for succinct questions and answers, please. I will try to get everyone in.

Kenneth Gibson (Cunninghame North) (SNP) SNP

I warmly welcome the statement. Scotland has long suffered from chronic underinvestment, which impacts on productivity, employment growth and prosperity, a...

Ivan McKee SNP

“Investing with Purpose: Scotland’s Global Capital Investment Plan” identifies the sectors in Scotland’s economy that have demonstrated the greatest resilien...

Maurice Golden (West Scotland) (Con) Con

The minister said that part of the plan is about “taking action to increase the viability and fit of what private capital markets want to invest in and the...

Ivan McKee SNP

Absolutely. Investors will be attracted by the opportunity of a Scotland that is able to chart its own course in the world. When they look at the top 10 econ...

John Mason (Glasgow Shettleston) (SNP) SNP

The minister mentioned green ports. Could he expand on that point? Is he particularly looking for investment in green ports? What would the relationship be w...

Ivan McKee SNP

Clearly, it is a private capital investment plan to support the structures whereby investors would seek out and be aware of investment opportunities in Scotl...

Colin Smyth (South Scotland) (Lab) Lab

The communities that would arguably benefit most from capital investment are peripheral rural areas that suffer weaker economic indicators, such as Dumfries ...

Ivan McKee SNP

The regional aspect is as central to “Investing with Purpose” as it was to our FDI plan, “Shaping Scotland’s Economy”, which we produced at the end of last y...

Bruce Crawford (Stirling) (SNP) SNP

I listened carefully to the answer that the minister gave to Colin Smyth. Will the minister provide further information on what steps can be taken to ensure ...

Ivan McKee SNP

I thank Bruce Crawford for his question, which allows me to reinforce the centrality of the regional approach to the capital investment plan. Global capital...

Graham Simpson (Central Scotland) (Con) Con

The minister will be well aware that the Scottish Government’s track record on investing in private businesses is decidedly ropey. It is so bad that the Audi...

Ivan McKee SNP

It is a private capital investment plan, which is about attracting private capital into Scotland’s economy. If he has read the plan, Graham Simpson will know...

Willie Coffey (Kilmarnock and Irvine Valley) (SNP) SNP

What steps can the Government take to ensure that investments will translate into high-quality jobs for the people of Scotland? In line with the questions of...

Ivan McKee SNP

Capital investment creates jobs in the economy, and the plan focuses our collective efforts around the four key sectors that our analysis has shown are the m...

Claudia Beamish (South Scotland) (Lab) Lab

How will the Scottish Government help to facilitate the shift from what risk being high-carbon stranded assets to the sectors of the future? Will there be gu...

Ivan McKee SNP

Claudia Beamish will be aware that the transition to net zero is at the core of the plan. We make it clear that the focus of anything that we do in that rega...

Sandra White (Glasgow Kelvin) (SNP) SNP

In response to an earlier question, the minister mentioned GDP, which we know is not the only measure of economic success. In my mind, the recognition of wel...

Ivan McKee SNP

The choices that are set out in the plan explicitly seek to focus effort on attracting investment that generates wider spillover benefits and that aligns wit...