Kate Forbes demands action to boost private investment in Scotland

In recent discussions, Kate Forbes, the Deputy First Minister and Economy Secretary of Scotland, emphasized the crucial role of private investment in advancing the country's economy. Speaking at the Investment Association conference in Edinburgh, she underscored that years of inadequate investment have hampered Scotland and the UK as a whole. The Deputy First Minister called upon investors to increase their contributions, positioning this as vital not only for economic growth but also for achieving net-zero emissions, combating poverty, and enhancing public services. Forbes highlighted the government's commitment to creating an environment conducive to investment, stating that Scotland must improve its ability to attract funding. She mentioned a forthcoming £500 million offshore wind investment initiative, expected to announce its first projects soon. This scheme reflects the Scottish Government's proactive approach to addressing the investment shortfall. Moreover, Forbes pointed out the Scottish National Investment Bank's substantial contributions, citing £650 million invested since its inception and an additional £1.4 billion from private sources. She recognized that tackling Scotland's housing challenges requires significant private investment, framing it as one of the government’s top three priority areas, alongside initiatives focused on net-zero targets and public infrastructure. Collaborative efforts with the UK Government are deemed essential for achieving economic progress, and Forbes noted positive signs of readiness to cooperate for mutual benefit. She remained optimistic about Scotland's future as a competitive investment destination, calling for partnerships between the government and Scotland's businesses to meet these challenges together.