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Chamber and committees

Question ref. S6W-03730
Asked by: Claire Baker, Mid Scotland and Fife, Scottish Labour
Date lodged: 13 October 2021

Question

To ask the Scottish Government what consideration it has given to implementing community booster share schemes, including via the Scottish National Investment Bank.

Current status: Answered by Kate Forbes on 3 November 2021


Answer

Scotland has well established approaches and sources of funding which enable our communities to do things for themselves, as well as to make their voices heard in the planning and delivery of services.

We are targeting similar outcomes to those of the community booster share schemes in England with our Place-Based Investment Programme which is being backed by £325 million of capital funding over 5 years for a variety of place-based investment initiatives, including support for 20-minute neighbourhoods, town centre action, community wealth building and community-led regeneration. We also have our £50 million Vacant and Derelict Land investment programme. These initiatives are complemented by our Empowering Communities Programme which supports community led projects and strategic partnerships, enabling communities to tackle poverty and disadvantage on their own terms. We also provide funding to Development Trusts Association Scotland (DTAS) totalling over £400,000 between 2021 and 2024 to continue their Community Shares Scotland programme.

The Scottish National Investment Bank has been established to invest in Scottish business, projects and communities with the objective of delivering positive environmental and social impacts, and positive financial returns for the people of Scotland. The Bank operates on a commercial basis, providing repayable debt and equity. This investment is available to Third Sector and community organisations for specific commercial projects.