Chamber
Meeting of the Parliament 27 February 2025
27 Feb 2025 · S6 · Meeting of the Parliament
Item of business
Increasing Investment
Increasing investment across the Scottish economy is a defining challenge for our times. For many years, persistently low levels of investment in Scottish businesses and Scottish projects have held back improvements in productivity and limited our economic growth. That problem is not unique to Scotland—the same has been true for the United Kingdom as a whole over an extended period.
However, increasing the levels of private investment in our economy is essential for everything else that we want to achieve. It is essential for growth and prosperity, for tackling the climate and nature emergencies, for eradicating child poverty and for improving the public services on which we all depend. Without a step change, we will not succeed.
If the challenge in front of us is daunting, the opportunity is enormous. UK investment institutions manage nearly £11 trillion in global assets. Scotland-based firms alone manage some £490 billion. If we can secure more of that capital for Scottish businesses and Scottish projects, the effect will be truly transformational.
In the same item of business
The Deputy Presiding Officer (Annabelle Ewing)
SNP
The next item of business is a debate on motion S6M-16595, in the name of Kate Forbes, on increasing investment in Scotland. I invite all members who wish to...
The Deputy First Minister and Cabinet Secretary for Economy and Gaelic (Kate Forbes)
SNP
Increasing investment across the Scottish economy is a defining challenge for our times. For many years, persistently low levels of investment in Scottish bu...
Murdo Fraser (Mid Scotland and Fife) (Con)
Con
Does the cabinet secretary agree that the regulatory framework that is set by the Scottish Government is absolutely essential with regard to the signals that...
Kate Forbes
SNP
I agree with the principle that the regulatory and policy environment is critical in giving investors certainty. I am in no doubt that investors have no obli...
Kenneth Gibson (Cunninghame North) (SNP)
SNP
Hear, hear.
Kate Forbes
SNP
I hear cries of delight at that from Mr Gibson, who is sitting behind me. Two weeks ago, Highlands and Islands Enterprise announced £5 million for the Scapa ...
Paul Sweeney (Glasgow) (Lab)
Lab
The Deputy First Minister might note that other countries have a model by which they take strategic equity investments in key firms to secure them for the lo...
Kate Forbes
SNP
We look to our enterprise agencies and the bank to invest in high-growth-potential companies in the most appropriate way. A range of options is available to ...
Murdo Fraser (Mid Scotland and Fife) (Con)
Con
I remind members of my entry in the register of members’ interests. I derive some income from a private rented property and I have received hospitality from ...
Daniel Johnson (Edinburgh Southern) (Lab)
Lab
Will the member take an intervention?
Murdo Fraser
Con
Let me finish this point and then I will give way. Those infrastructure projects are absolutely vital in terms of their ability to expand their businesses.
Daniel Johnson
Lab
Will Murdo Fraser reflect that it is not just about getting goods to market but about integrating supply chains? The whisky coming down the A9 will very ofte...
Lorna Slater (Lothian) (Green)
Green
Will the member take an intervention?
Murdo Fraser
Con
Oh my goodness. They are coming from all sides, Presiding Officer. I agree with Mr Johnson. Let us hear what Lorna Slater has to say, which might not be so ...
Lorna Slater
Green
We all want infrastructure so that we can move goods and people around the country, but there is no particular reason why those goods could not be moved by r...
Murdo Fraser
Con
I simply disagree with Lorna Slater on that last point, but I agree that, where there is the capacity to move goods by rail, we should take that opportunity....
Kate Forbes
SNP
Will the member take an intervention?
Murdo Fraser
Con
Yes, if she will tell me what will happen on that point.
Kate Forbes
SNP
I will just make a comment. The member talked about our motion being too self-congratulatory. He is anything but congratulatory about the strengths of the Sc...
Murdo Fraser
Con
I am pleased that the Deputy First Minister has raised the EY survey. I read a very interesting quote from Ally Scott, who is the managing partner of EY Scot...
Lorna Slater
Green
Will the member take an intervention?
Murdo Fraser
Con
No, I need to make some progress. According to experts in the world of finance and property, we have lost more than £3 billion of investment that could have...
Kate Forbes
SNP
Be nice.
Murdo Fraser
Con
I am being invited by the Deputy First Minister to be nice, but I am simply encouraging her to make a few minor tweaks to policy. Money would flow into Scotl...
Paul Sweeney
Lab
Will the member take an intervention?
The Deputy Presiding Officer
SNP
The member is bringing his remarks to a close.
Murdo Fraser
Con
My apologies, Mr Sweeney. There are investors who are prepared to fund a replacement of Torness. It is only the short-sighted policies of this Government th...
The Acting Minister for Climate Action (Alasdair Allan)
SNP
Will the member take an intervention?
The Deputy Presiding Officer
SNP
The member is about to conclude.
Murdo Fraser
Con
Investment will come when there is an attractive regulatory and tax environment. As we saw in the budget that was passed by Parliament on Tuesday, creating s...