Scale invariance supplemented by the requirement of the absence of new heavy particles may play an important role in addressing the hierarchy problem. We discuss how the Standard Model may become scale invariant at the quantum level above a certain value of the Higgs field value without addition of new degrees of freedom and analyze phenomenological and cosmological consequences of this setup, in particular, possible metastability of the electroweak vacuum and Higgs inflation.

Version published in PRD; minor changes, references updated