Recent and new research on tax haven involvement in the Hub companies and PPP project companies.
"Tax havens are central to the operations of many private companies involved in Scottish public infrastructure. 59.6% of companies involved with Hub and PFI schemes in Scotland had shareholders linked to tax haven activities.
Three of the five Hub projects studied had 60% of their equity ultimately located in a tax haven.
Four of the ten NPD projects studied had owners located in tax havens, with an average equity share of 49.3%.
A substantial amount of Scottish public sector pension funds have been identified as invested within tax haven companies involved in Scottish PPP schemes.
We recommend that the new Scottish National Infrastructure Company should work with the Scottish National Investment Bank to eliminate the need for and use of PPPs in Scotland.
Pension schemes should be divested from tax haven companies and training offered to pension fund trustees to enable better and more direct investment in Scottish public infrastructure.
Community organisations should be enabled to make investments in schemes and maximise community benefit from infrastructure investments in their area.