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 2811 contributions
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
I think that I am right to say that it took a while to recruit Mr Denholm. Is there a good level of interest in the job now?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
So it would not be open to the public to—
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
Yes.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
No, that is okay. That was really useful.
You will invest in a company, no matter what stage it is at. I think that I am right in saying that you have £10 million in the fast-growing property app firm, Utopi, and you own some shares in that. How do you anticipate getting a return on your investment in companies? There are probably different ways, but could you just tell us one of them?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
You are right—the company appears to be doing very well and has won some plaudits. At some point, though, you will have a look at what your shares are worth and, if they have gone up by a certain amount, you will cash them in.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
I was going to ask about that. Most of your funding so far has been from financial transactions, and they have to be repaid to the Treasury. Does that cause issues?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
The responsibility is the Scottish Government’s rather than yours, so you do not have to worry about it.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
I genuinely want you to help me out, because I do not know the answer. Your target rate of return is 3 to 4 per cent. I looked at that and thought that it did not sound particularly high. I could probably get better than 4 per cent just by going to a bank or some other financial institution.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
Would it need to be UK legislation?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Graham Simpson
Okay. I am going to move on to the one disaster that you have had. You have been asked about this before; indeed, I have asked you about it before, Mr Watt. Circularity Scotland was a disaster—there is no other word for it. What lessons have you learned from that?