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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 21 November 2025
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Displaying 847 contributions

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Economy and Fair Work Committee [Draft]

Scottish Government Priorities

Meeting date: 1 October 2025

Gordon MacDonald

My final question follows on from an earlier question from Stephen Kerr, who painted a pretty black picture of Scotland’s productivity figures. Am I right to say that, of the 12 UK regions, Scotland is in the top three for productivity levels, that Scotland’s average growth over the past decade has been more than double that of the UK and that Edinburgh’s productivity levels are nearly 25 per cent higher than the UK average?

Economy and Fair Work Committee [Draft]

Scottish Government Priorities

Meeting date: 1 October 2025

Gordon MacDonald

You have just indicated AI’s importance. However, in order to harness its benefits, we need data centres to be based in Scotland. We have a cooler climate and an abundance of electricity. Recently, we had the announcement about DataVita and CoreWeave, but how do we use that to encourage other companies to put down roots and locate data centres in Scotland?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

How does that benefit the organisation?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

How do you decide which projects you are investing in? I note that 70 per cent of all trees planted in the UK are being planted in Scotland. How do you decide what your risk appetite is?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

My last point is about leverage. You referred to the £800 million that you have invested to date, and you got about £1.4 billion back from private capital—that is a leverage ratio between 1.6 and 1.8. How does that compare with other organisations in a similar space?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

Is that because you are a new bank and there is risk? I asked a question earlier about your risk assessments.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

Good morning. Some of the questions that I was going to ask have already been covered, but I have a few follow-up points. On the ambition for you to be a perpetual investment fund, you said that you want to try to achieve some progress in the next 12 months. Is there any requirement for rule changes—either in the bank’s constitution or the governance rules—for that to happen?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

On the Scottish Government’s reserve, I believe that the Government gave you a bit of flexibility, with £25 million.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

Absolutely.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

I have a question about your risk appetite. First, I welcome your investment of £34 million into Lost Shore, Scotland’s only surf resort, which is in my constituency. It is a fantastic facility. We heard from Murdo Fraser about Gresham House, which I think that you are putting £50 million into.