Scotland’s First Minister Nicola Sturgeon has hinted that the Scottish government is moving closer to issuing Scottish debt — by selling bonds to institutional investors.
In an interview with Bloomberg, Sturgeon said the Scottish government will make use of its increased fiscal powers which include the authority to issue sub-sovereign debt by selling bonds.
Sturgeon was asked if the Scottish government might use its new bond issuing authority to raise money to invest in big infrastructure projects.
She replied: “Of course we will be seeking to use these powers to best effect. Precisely how we use them will come down to decisions about what we think is in our best interests …
“The issue of bond issuing is something that no doubt I will touch on in the discussions I have at the London Stock Exchange today,” she added.
Sturgeon was in London on Monday for a series of meetings about investment in Scotland. She opened trading at the London Stock Exchange and had a meeting with UK prime minister David Cameron.
Full Bloomberg interview here: http://www.bloomberg.com/news/articles/2015-12-14/sturgeon-seeks-to-broaden-scottish-economy-as-oil-price-plunges