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Chamber and committees

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 6 November 2025
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Displaying 2809 contributions

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Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

And that is the policy of the bank.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

When John Swinney made his speech about Israel, he specifically mentioned the Scottish National Investment Bank. He announced a policy.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

You would not have invested previously in a defence company that was exporting arms to Israel.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

I suppose that my question is this: is the policy of the bank framed by what the First Minister announces, or are you totally independent and setting your own policies?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

Right—okay. Will the current policy be updated in the light of the shareholder’s statements about munitions?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

In my allocated questions, I asked about the ministerial advisory group, and we talked about the bank’s operational independence. I would like to ask you a couple of questions about that, particularly in relation to the recent changes in the Scottish Government’s position on munitions.

The bank’s current policies talk about not investing in weapons, but you obviously work with the defence sector to some degree.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

On that theme, how important is additionality to the bank’s role? In what respect is the bank fulfilling that aspect of its role with regard to housing? That is not clear to me.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

What is going to change?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

Okay—right. Fair enough.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

So we should see some progress.