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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 13 October 2025
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Displaying 897 contributions

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Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Good morning, and congratulations on your appointment to your new role, Mr Denholm. I have a number of questions. I will make them quite quick—some are just for information.

You have referred to the money as a debt facility, but also as a loan. Is it the straightforward case that the £9 million is with Circularity Scotland? Was it money that it could draw down on or has it all gone to it?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Is there any from other organisations that you have been involved with?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Monday?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

When was the last withdrawal? Was it recently?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

I certainly had contact from producers that had not heard that CSL was going into administration until yesterday, so you essentially had a heads-up before they did.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Was SNIB not asked for additional support?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

How might you be able to help, other than by providing capital?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Okay. Was that throughout the process and could have been around the time that you were making the decision about whether to authorise the second draw down? I realise that you said earlier that you will provide that information to us.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

There is the additional challenge that SNIB is not a traditional asset manager. It is a publicly owned bank that reports to the Scottish Parliament. How does that provide challenges, or is it too early to say?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

It would be helpful to give us an idea of exactly when it was drawn down. Was the second drawing down done at a time when there was real risk? It would be helpful to know that.