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 7218 contributions
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
I do not know about that. At Kinrara, for example, there were five employees; now there are zero. I am just trying to work out what the effects will be. Does anyone want to say a positive thing—for example, that the carbon market will make things more local and will bring the land back to local people?
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
Welcome back to the meeting and our second panel of witnesses on natural capital.
I welcome Dr Naomi Beingessner—did I say that right?
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
I have a question before I bring in Olly Hughes, who has raised his hand. Perhaps he could help me to understand this.
I appreciate that it is a few years since I was a surveyor, but upland hill land used to price at about £1,500 an acre if the person was lucky and it had planting potential. Two years ago, I heard prices of £14,000 to £20,000 an acre—perhaps Gresham House was paying less or perhaps it was paying more than that. However, I hear that the market has dropped off. To put that into context, we are probably now talking about a maximum of £4,500 to £5,000 an acre for grade 2 arable dirt. There was a huge bubble. Will you get 5 per cent on £14,000 an acre—sorry, per hectare, I should say—Olly?
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
Okay. I will let Monica Lennon come in briefly. I ask her to target her question to one person, as I am conscious of the timings.
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
I have a final question before we leave this issue. Stuart Greenwood, you mentioned contracts of 50 years and 99 years. Is there any business in the world that knows where it is going to be in 10 years’ time, let alone in 99 years’ time? I ask the question genuinely. You might take money now for something that involves a 99-year obligation, but you do not know what the situation will be in 10, 20, 30 or 40 years’ time. Taking that money completely sterilises the land for that period, because you have a 99-year obligation. How can anyone apart from a massive pension fund be in a position to take that risk?
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
Yes, but you are suggesting that each vintage will reach maturity, which some might not do. In those cases, whoever ends up with the land, on this merry-go-round of land sales, ends up with all the obligations on it. If I were going to buy something with obligations that I could not necessarily quantify, I would not pay very much for it.
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
Maybe we could give Olly Hughes a rest. Would Joel Paterson like to head off on that? I will then bring in one other person. I am sorry, but we are quite tight for time.
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
Okay. Perfect. Mark Ruskell has a question.
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
That sounds interesting.
Net Zero, Energy and Transport Committee
Meeting date: 26 March 2024
Edward Mountain
Olly is going to jump in and tell us that he will buy it all.