Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department has taken to support the Scottish Government in establishing the Scottish National Investment Bank.

Treasury ministers and officials have regular discussions with our counterparts in the Scottish Government on matters of importance to Scotland and the wider UK, including the Scottish Government’s plans to establish a Scottish National Investment Bank.

The Scottish Government’s new fiscal framework was agreed in December 2016, including increased borrowing powers and a larger Scotland Reserve. It is for the Scottish Government to decide how to use these flexibilities to support the Scottish National Investment Bank.