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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 9 September 2025
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Displaying 2603 contributions

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Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

What are the implications of that? Financial transactions have to be repaid, and that obligation is on the Scottish Government and not necessarily on SNIB, unless there is a back-to-back agreement on that. It is likely that, as those transactions come to maturity, that will, in effect, reduce SNIB’s capital, because it will have to return the money to the Scottish Government, which will have an impact on future investment. Given that it has been receiving financial transactions for a number of years, the cumulative effect of those payments down the line could be quite significant.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

Yes. It all hangs together.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

If I recall correctly, financial transactions have already been reduced somewhat over the past few years. I think that most of them now go to the bank, do they not?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

That was the subject of my next question.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

I can see that there are some questions for the bank.

I will move on. The bank has made pretty good progress on covering its operational costs from its own income, but the ability to continue to generate that income to cover its costs is pretty closely tied to the continuing supply of capital from the Scottish Government. How confident are you that that funding will be sustained? What would be the impact on the bank if the capital allocations were to fall short?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

Elements such as giving advice, presumably on how to invest capital, are highly-specialised, highly-paid areas in which people get mega bonuses and so on. How is that compatible with SNIB and, to be blunt, how can it afford that?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

It is an extremely competitive area that has some really big players. There are a lot of questions about where in the existing market SNIB might fit—or, indeed, whether there is a place that it can fit or find a niche to take on.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 28 May 2025

Colin Beattie

Based on what you have said, it seems that the bank is aware of those risks and is managing them, to the extent that it can.

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Colin Beattie

I am a bit concerned about one particular area. Last year, witnesses told us that SCAD does not conduct horizon scanning of at-risk companies, sectors or whatever and that requests for support simply get referred back. You have referred, for example, to the enterprise boards and so on as being one of the conduits. Is that not a high-risk approach? If you are just waiting for things to come in, do you not risk missing critical issues out in the market?

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Colin Beattie

I was interested in your reference to theatre groups, which I would never have linked to what you do. What are the criteria for getting involved in the cultural side of things? Is it the number of staff? Is it the impact on the local economy?