Briefings to Ministers: Scottish Growth Scheme, grants/loans: FOI release

FOI reference: FOI/18/01334
Date received: 8 May 2018
Date responded: 31 May 2018

Information requested

Briefings by Scottish Government Civil Servants to Ministers on the Scottish Growth Scheme on or before 6 September 2016; for a list of all grants and loans made through the Scottish Growth Scheme since its creation to date and if the expected payments through the Growth Scheme are still anticipated to be worth £500 million and for any details of any changes that may affect the final amount paid out through the Scheme.

Response

I attach most of the information you requested although some of the information you requested has had some elements redacted.

There are no grant or loan products introduced under the Scottish Growth Scheme brand. The Scheme currently has two equity elements. We are confident that the Scheme will unlock £500 million investment, as planned to support growth businesses over the 3 years to June 2020.

The Scottish Growth Scheme supports the economy and jobs by providing access to finance for companies that want to fund growth and export expansion. Currently, £70.8 million has been invested in 61 companies.

We are planning to enhance the Scheme's resources in the coming months by introducing a variety of services and new providers that will give SMEs a greater choice including micro finance, debt and equity products.

While our aim is to provide information whenever possible, in this instance we are unable to provide the redacted elements of the information you have requested because exemptions under sections 29(1)(a) (policy formulation) and 30(b)(1) (free and frank provision of advice) of FOISA apply to that information. Section 38 (1)(b) also applies to the personal information of some officials. Finally, it is not possible to release one document because of section 36(1) (legal advice).

About FOI

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18-01334 - u019186_30-05-2018_17-06-52.pdf

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30 page PDF

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