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I acknowledge the part that is played by many banks, including the Co-operative Bank, in that respect.There are cases in which communities that do not have vast amounts of money—or any money—are unable to proceed because they cannot get the last 5, 10 or 15 per cent.
That was partly because the regulations for calculating holiday pay changed during 2015. Previously, holiday pay was straightforward in that the holiday pay for a week was a fiftieth of a person’s annual salary.
The cabinet secretary will recall that, 20 years ago, I retired as the director of technology innovation at the Bank of Scotland, so I am 20 years obsolete.
Over the summer I have spoken to an awful lot of tourism businesses. They talked about the banks—I know that members have spoken about banks—and bank lending.
For example, I am probably not the only person who has bought a holiday online in recent times. The same thing can be seen in banking and financial services, newspapers and other media, estate agents and so on.
The previous minister, Kevin Stewart MSP, on 8 November 2022, came to committee and quibbled with a Convention of Scottish Local Authorities estimate of £1.5 billion, apparently entirely unaware that the real cost was nearly three times that.