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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 5 May 2021
  6. Current session: 12 May 2021 to 19 July 2025
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Displaying 3298 contributions

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Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Yes, it was. Thank you.

Secondly, you said that you thought that the global refinancing would need to be completed before the investment in the billet plant would be made. What happens if that does not materialise?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Okay, thank you. I am going to bring in our deputy convener, but before I do so I have a couple of quick questions, which I hope will have quick answers.

Mr Rhatigan, did you say that the guarantee that the Scottish Government struck with GFG Alliance was also offered, via Rio Tinto, to the other four prospective bidders?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

And the venue of that is?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Our principal item of business this morning is to consider the Scottish Government’s approach to financial interventions, and in particular to inquire into the operations of the Government’s strategic commercial assets division. I am pleased that the following witnesses are joining us this morning to help to illuminate that question and to answer others that we might have.

I am very pleased to welcome Gregor Irwin, the director general of economy at the Scottish Government. Alongside Mr Irwin is Colin Cook, who is the Scottish Government’s director of economic development, and Dermot Rhatigan, who is the deputy director of the strategic commercial assets division.

As I have said, director general, we have some questions to put to you. Before we get to those, however, I invite you to make an opening statement.

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Okay.

Mr Rhatigan, you mentioned procuring expertise and so on. I noticed that one of the functions of the operations and asset management unit is to procure the services of commercial advisers. Those are consultants, presumably. How much money has been spent in the past 12 months on consultants?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Was that all in connection with Ferguson Marine, or was it also in connection with other ventures?

Public Audit Committee

Decision on Taking Business in Private

Meeting date: 30 May 2024

Richard Leonard

Good morning. I welcome everyone to this, the 17th meeting of the Public Audit Committee in 2024. The first item for the committee’s consideration is whether to take agenda items 3 and 4 in private. Are we agreed?

Members indicated agreement.

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Okay. Would you consider a strategic business that is important to the Scottish economy to be potentially in distress if it was the subject of a hostile takeover bid, for example?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Okay. We will get into the divestment process a little later on.

I want to go back to the situation in Grangemouth. Do you have people in the strategic commercial assets division today, have you had people in it over the past month, or will you have people in it in the coming weeks who are actively involved in looking at an intervention around its future as an import terminal, which you mentioned when we previously took evidence on the matter, or its continuation as a refinery? It is the last refinery in Scotland, is it not?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Are you saying that the people who are employed in the strategic commercial assets division stand ready, but are currently not doing anything with regard to Grangemouth?