First Minister Nicola Sturgeon has launched a consultation to help establish a new National Investment Bank for Scotland.

Speaking at an international conference on inclusive growth in Glasgow, Ms Sturgeon said the creation of a national investment bank has been identified as an "important means of delivering infrastructure development, finance for high growth businesses and strategic investments in innovation".

Benny Higgins, Chief Executive Officer (CEO) of Tesco Bank, has been appointed to lead the work to develop an implementation plan. He has convened a small advisory group to support him in the development of this plan.


The consultation will gather views from the public on the details of the Bank's operation and how it can meet its objective of supporting the Scottish economy and working for the benefit of the people of Scotland.

Ms Sturgeon said: "The Council of Economic Advisers identified a national investment bank as an important means of delivering infrastructure development, finance for high growth businesses and strategic investments in innovation. Our Programme for Government committed to the establishment of such a Bank and I am delighted that Benny Higgins is leading the implementation work.

"Today, we are launching a consultation on the details of how best the bank can achieve those aims and support Scotland's economy."

Ms Sturgeon also revealed the government will establish a Just Transition Commission - a panel of experts that will advise on how to make the move to a low-carbon economy "as equitable as possible".

"We will look at ways in which we can support the growth of employee ownership, and continue to pursue our fair work agenda," she said.

To view the consultation, visit here.

(LM/MH)