First Minister signs agreement with City of London to bolster finance sector

Scotland’s First Minister has signed a new agreement with the City of London to bolster the nation’s financial sector.

John Swinney signed an updated version of the Partnership Agreement between the Scottish Government and the City of London Corporation on Monday.

The deal focuses on shared priorities and opportunities to secure investment in Scotland, develop new technologies, fund nature projects and promote the Scottish financial sector internationally.

The agreement was signed during a biennial visit to Edinburgh by the corporation’s lord mayor and policy chair Chris Hayward.

The document forms the basis for future financial services collaboration, including the delivery of the lord mayor’s proposed Scottish Investment Summit this autumn.

The First Minister said: “The Scottish Government has built a close working relationship with the corporation over the last five years to support our financial centres and promote their strengths internationally.

“We have strong financial and professional business services sectors, and the signing of the updated agreement reflects our ongoing commitment to working on shared priorities and opportunities.”

Mr Swinney said he was “fully focused” as First Minster on “grasping every opportunity awaiting Scotland”.

He added: “I want to make the most of our skills and expertise, ensuring we continue to enhance Scotland’s reputation on the global financial stage.

“That will help us grow our economy, which in turn will help us eradicate child poverty, improve public services including Scotland’s NHS and tackle the climate emergency.

“It is not an exaggeration to say that every ambition of my government depends on the success of Scotland’s economy, its businesses and industry.

“After renewing our partnership, we will look ahead to the summit planned for later this year, which will showcase Scotland as an attractive destination for investment in priority sectors including financial and professional services, renewable energy and life sciences.”