Is the SNP talking about using quantitative easing to fund investment?

Posted on

The SNP manifesto includes strong commitments to investment in thew Scottish economy, including via the Green Investment Bank and a Scottish Development Bank.

What intrigues me is this comment:

[W]e will continue to maximise investment in our nation’s infrastructure, using both capital spending, new borrowing powers and a range of innovative finance mechanisms.

Are they talking about green quantitative easing when they refer to 'innovative finance mechanisms'?

I know they do know about it. The phrase is that used by the Bank of England to refer to quantitative easing. It would be very good if they were. It's an issue needing a champion and its impact on Scotland could be significant.

But let's ignore the rest of the UK: the impact in every constituency of this whole country of the adoption of green quantitative easing would obvious. There would be new jobs, higher wages, increased economic activity, new demand, a stimulus for local business, the creation of new enterprises and hope.

And all made possible by using the quantitative easing process to help the people of this country and not just its finance community, as was the case when £375 billion of quantitative easing funds were created from 2009 to 2012.