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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 16 January 2026
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Displaying 1741 contributions

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Economy and Fair Work Committee

Transition to Net Zero (Financial Support)

Meeting date: 6 October 2021

Claire Baker

We are joined by our second panel of witnesses, who will speak from the investment perspective. I thank panellists for joining us. I welcome Simon Crichton, who is head of relationship management at Triodos Bank UK; David Ovens, who is the joint managing director of Archangel Investors; and Fraser Sime, who is the regional director for SMEs and mid corporate at the Bank of Scotland.

We are holding this evidence session because we are weeks away from the start of the 26th United Nations climate change conference of the parties—COP26. We are interested in hearing witnesses’ expectations of COP26, as well as their responses to our evidence session this morning with SMEs.

I noticed that Triodos is a member of the bankers for net zero initiative, which has identified some issues for SMEs around misaligned or weak incentives and inadequate information in supporting businesses that are moving to net zero. Let us start in that area and talk about the support that is available. Simon Crichton, would you like to respond?

Economy and Fair Work Committee

Economic Recovery

Meeting date: 29 September 2021

Claire Baker

I have a couple of questions about the FTs on the back of Michelle Thomson’s questions. The cabinet secretary will know that Scottish Enterprise set out to the committee that it is facing a funding gap as a consequence of the drop in financial transaction returns.

Also, can you address the issue of the SNIB? The assumption was that FTs would provide the source of capital for the SNIB. Is the position on FTs to wait and see what the UK Government decides, or is an alternative plan being put in place for the SNIB? According to the forecasting that was originally done, it will be challenging if the financial transactions continue to be reduced.

Economy and Fair Work Committee

Economic Recovery

Meeting date: 29 September 2021

Claire Baker

Please come in, Ms Gray.

Economy and Fair Work Committee

Economic Recovery

Meeting date: 29 September 2021

Claire Baker

Thank you. Before we close, I will return to the issue of the Scottish National Investment Bank. You have given a firm commitment this morning to finance the SNIB and have also just referred to the bank’s independence. Has the Government set a target rate of return for the bank?

You will be aware that a number of bonus or incentive payments have been made in the initial months of the bank’s establishment. Previously, the Government said that there would be no annual financial target-based bonuses within the bank and there would be medium to long-term incentive schemes. Do you have a view on the recent bonuses and the payments that have been made in the short lifetime of the bank?

Economy and Fair Work Committee

Economic Recovery

Meeting date: 29 September 2021

Claire Baker

We will take a short break before the next panel.

11:21 Meeting suspended.  

11:30 On resuming—  

Economy and Fair Work Committee

Professional Qualifications Bill

Meeting date: 29 September 2021

Claire Baker

The minister has indicated where he would like the UK Government to make amendments. You might be aware that the Delegated Powers and Law Reform Committee argued that

“a statutory requirement to consult the affected regulator(s)”

on international treaties should be introduced. Is that something that the Scottish Government supports and will be asking the UK Government to look at?

Economy and Fair Work Committee

Professional Qualifications Bill

Meeting date: 29 September 2021

Claire Baker

Finally, the Delegated Powers and Law Reform Committee talked about clause 3 of the bill compelling devolved regulators to charge fees. The approach normally tends to be that you try to reduce barriers to people coming to work in and support our economy and public services. Do you have concerns? Have you had any discussions with devolved regulators about the proposal to charge fees? Also, does the clause include the level at which the fee would be set, or would we have flexibility in setting the fee?

Economy and Fair Work Committee

Professional Qualifications Bill

Meeting date: 29 September 2021

Claire Baker

I thank the minister and the officials for attending this morning. I now bring this evidence session to a close.

11:43 Meeting continued in private until 12:14.  

Economy and Fair Work Committee

Decision on Taking Business in Private

Meeting date: 29 September 2021

Claire Baker

Good morning and welcome to the sixth meeting in 2021 of the Economy and Fair Work Committee. Our first item of business is a decision on whether to take in private items 4, 5 and 6. Are members content to take those items in private?

Members indicated agreement.

Economy and Fair Work Committee

Economic Recovery

Meeting date: 29 September 2021

Claire Baker

Our main item of business is an evidence session with the Cabinet Secretary for Finance and the Economy on support for economic recovery. It was the cabinet secretary’s intention to appear in person but I understand that that has not been possible.

I thank the cabinet secretary and her officials for joining us. Welcome, cabinet secretary. I also welcome from the Scottish Government Colin Cook, director of economic development; Gary Gillespie, chief economist; and Helena Gray, interim director of fair work, employability and skills.

The purpose of this evidence session is to consider policies and actions to promote economic recovery. The evidence will also inform the committee’s input to the Scottish Government’s budget for 2022-23.

I invite Colin Beattie to make a declaration of interests.