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Scottish government shifts policy gear, creates national investment bank
September 5, 2017 / 2:32 PM / 3 months ago

Scottish government shifts policy gear, creates national investment bank

EDINBURGH, Sept 5 (Reuters) - Scotland’s First Minister Nicola Sturgeon announced a series of measures to boost the economy on Tuesday, including the creation of a national bank to support investment and innovation.

Sturgeon, who also confirmed the devolved government will remove a public sector pay cap which is still in force in the rest of the UK, said she would look at how Scotland’s devolved parliament can protect its powers following Britain’s exit from the European Union.

“We will continue to seek the agreement of the UK government to amendments that will address our (Brexit) concerns,” Sturgeon told Scottish parliament as she set out a new legislative programme.

“However, in case that proves impossible, we are also considering the option of legislation in this parliament to secure the necessary continuity of laws in Scotland.”

Sturgeon hopes to prove her credentials after her party’s fresh drive for independence from the UK backfired and lost them a third of their British parliamentary seats in a June election.

The devolved parliament sets a portion of its own tax rates and bands, and decides health, education and transport policy. (Reporting by Elisabeth O‘Leary, editing by Andy Bruce)

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