This article presents some of the Scottish findings of a comparative research project (2002-2004) which examined the ways initial teacher education (ITE) policy and practice take place in two of the four major components of the UK, England and Scotland. Debates about the nature of professional knowledge, where it resides and who owns it continue to play a central role in the development of initial teacher education arrangements as they currently stand in Scotland. The way university providers, schools and policy groups are positioned in the debate varies according to what their primary function is and how initial teacher education features on their agenda. In this article the authors investigate the conceptions, expectations and aspirations of a selected sample of policy actors, university-based and school-based ITE staff, and discuss implications for policy and practice in initial teacher education in Scotland. (Contains 5 notes.)