Scotish government to set up a new national investment bank

Quote:

EDINBURGH (Reuters) – Scotland’s devolved government said on Tuesday it will create a new national investment bank to boost infrastructure investment with the help of Tesco Bank <TSCO.L> chief executive Benny Higgins. “We believe that the time is now right to take a new approach on capital investment,” First Minister Nicola Sturgeon told Scotland’s parliament as she set out a new legislative programme.

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This seems like a reversal of the global trend to privatization of all government owned assets. In the past, government owned banks have played a pivotal role in industries such as agriculture. It seems that the only beneficiaries of the sell offs have been the banking industry and politicians who get a bigger pork barrel fund.

Is this a good idea?

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