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: 31 October 2023
Edward Mountain
It is hard to say no, Jim, because you have been very quiet so far.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Thank you. I am sorry, Monica, to have cut you short.
Sarah, would you like to come in?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
I would love to be able to say that Feargal Sharkey was before my time, but everyone knows that that is not true.
Jackie Dunbar, did you want to say something?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Our next item of business is an evidence session with the Scottish National Investment Bank as part of our stage 1 scrutiny of the Circular Economy (Scotland) Bill.
I am pleased to welcome Al Denholm, who is the chief executive officer of the Scottish National Investment Bank, and Jimmy Williamson, who is the executive director of the investment team for the Scottish National Investment Bank. Thank you for joining us.
Before we move to questions, I believe that Al Denholm wishes to make a brief opening statement.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
I am interested in how you come up with the investment. With the current bank rate, some investors might look at a straightforward investment with a fairly moderate rate of return of about 8 to 10 per cent. With a riskier opportunity, that might go up to 17 per cent; it might go up even higher, depending on what investors are looking at for a rate of return.
You obviously will not be looking at that, which means that you could be investing in more risky businesses. You are not going to give me the standard rate of return that you would expect for your investment, but can you talk more about that so that I can understand how you are a facilitator to allow that without taking all the risk in the most risky projects?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
The committee will report on the outcome of the instrument in due course. Are members happy to delegate authority to me, as convener, to finalise the report for publication?
Members indicated agreement.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Gosh. A huge number of monitors will be installed by the end of next year.
Alex Plant, do you want to come in?
10:15Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Yes, I know. I am just laying that out because we see questions about investment in the industry and about the salaries of people who work for you. You might be getting £450,000 and Peter Farrer might be getting a little bit less at roughly £350,000. That is a huge amount of money, and I am just laying that out so that the public are aware of it.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
I take all those points on board. My only comment is that there is no other water company in the UK that is owned directly and underwritten by the Scottish Government and the people of Scotland. They are the owners, whereas other companies have different ownership structures.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
What is the maximum amount that you can get?