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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 14 October 2025
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Displaying 2676 contributions

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Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

I suppose that my question is this: is the policy of the bank framed by what the First Minister announces, or are you totally independent and setting your own policies?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

Right—okay. Will the current policy be updated in the light of the shareholder’s statements about munitions?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

In my allocated questions, I asked about the ministerial advisory group, and we talked about the bank’s operational independence. I would like to ask you a couple of questions about that, particularly in relation to the recent changes in the Scottish Government’s position on munitions.

The bank’s current policies talk about not investing in weapons, but you obviously work with the defence sector to some degree.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

On that theme, how important is additionality to the bank’s role? In what respect is the bank fulfilling that aspect of its role with regard to housing? That is not clear to me.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

What is going to change?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

Okay—right. Fair enough.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

So we should see some progress.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

Very good.

I want to ask you about the health of the organisation, because it is about to have its fourth CEO in five years. It is like the Aberdeen and Hibs of leadership roles, is it not?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

I am sorry, Kevin; it was too tempting to miss the chance to say that.

What does the constant rotation of CEOs—which, in most organisations, would be seen as a negative—do in relation to strategic continuity, staff morale and, of course, external confidence, because the face of the organisation keeps changing?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Stephen Kerr

I have one last question to ask, with the convener’s indulgence. It would be wrong of me not to raise this point, particularly on a day when all the committee members present at the meeting are male. Our female committee members are not with us today, which is a great pity. If Michelle Thomson were here, she would want me to ask you about the issue of female-led companies.

On innovation investment—we are now going back to the theme of additionality, because this is a traditional problem—innovation businesses that are led by women struggle to raise capital. That funding from SNIB fell to just 4.2 per cent of the investment moneys in 2024. What is happening there? What is going wrong? How can we remedy that? Clearly, that 50-plus per cent of the population of this country have more than their fair share of entrepreneurial flair and courage, but they are not getting the funding.