The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 2061 contributions
Finance and Public Administration Committee
Meeting date: 14 December 2021
Michelle Thomson
I sense that you are laughing. I apologise if that was an unfair question but we will follow it up with the Cabinet Secretary for Finance and the Economy. My understanding is that the UK Treasury says that the health and social care levy is included in Barnett consequentials but we do not have a sense of the exact amount. Is that correct and is it the assumption that you make?
Economy and Fair Work Committee
Meeting date: 8 December 2021
Michelle Thomson
There is a lot of food for thought in all that.
Economy and Fair Work Committee
Meeting date: 8 December 2021
Michelle Thomson
You are talking about patient capital.
Economy and Fair Work Committee
Meeting date: 8 December 2021
Michelle Thomson
Gordon—I will come back to my original question, which was about funding operations and your general sense of where businesses are with financing. I also asked about innovation in the sector.
Economy and Fair Work Committee
Meeting date: 8 December 2021
Michelle Thomson
I want to touch on an area that I am amazed has not come up so far—funding and financing. You have given a very articulate description of where you are, but I want to explore a wee bit more how the constraints on resources are affecting your margins, in terms of both your individual businesses and the sector in which you operate, given that many small businesses are already highly debt laden, whether through the coronavirus business interruption loan scheme, the bounce back loan scheme or whatever.
I will also ask about the financing of innovation. Often, SMEs drive innovation, but innovation is perceived to be inherently more risky because it does not have a long-term record. What are your thoughts about how that is financed? I am thinking about all types of finance—not just public sector finance.
What is the general sense of where we are? There are a number of questions. Where are we now? What will we see coming through with small businesses? How many have you seen going to the wall? What about innovation in the sector and financing for that?
I saw Bill Ireland look at me, so he might as well go first.
Economy and Fair Work Committee
Meeting date: 8 December 2021
Michelle Thomson
Is the fundraising from private equity?
Economy and Fair Work Committee
Meeting date: 8 December 2021
Michelle Thomson
Does that apply to banks, as well?
Finance and Public Administration Committee
Meeting date: 7 December 2021
Michelle Thomson
It is certainly interesting to think about. We have not touched much on structural issues in the economy that have been highlighted as a result of Covid. You talked about assets. It is commonly believed that asset values across the UK are overinflated and that that has been perpetuated for a long time because it is in a lot of people’s interests. I would appreciate hearing your current thinking about that. Do you agree with that view? What do you see happening in the future? You might well want to bring up other structural issues.
Finance and Public Administration Committee
Meeting date: 7 December 2021
Michelle Thomson
Good morning. Following on with regard to the pandemic, I am bit surprised at the reaction to the emergence of omicron. Lots of people suggested that it was highly likely that another variant would go into the population. I am interested in exploring the extent to which you have baked the impact of such waves into your economic modelling, and specifically in your points about separation of sector and so on. I totally appreciate that there is a whole range of variables.
I am interested in understanding the extent to which you have done that, and how that will reframe your modelling. I think that it was you, Sir Charlie, who spoke about quantitative easing and how it is, in effect, here to stay and will have an impact on debt going forward. What are your reflections on what you are doing differently now? What would you absolutely, definitely do differently in the future, and what does that means for Scotland? What are you insights on that, in relation to your modelling?
Finance and Public Administration Committee
Meeting date: 7 December 2021
Michelle Thomson
You mentioned that various groupings—ethnic minorities, the young, the old and so on—have been affected in certain ways, but you did not mention women. Given the flexibility that women often look for in various roles and given their predominance in care and hospitality jobs, what are your thoughts about them as a vital grouping and about how the public spending outlook might impact them?