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That is a heartening response, because it is estimated that there is currently some £250 billion of investment funding available from institutional investors across the United Kingdom, some of which could be available for investment in social housing. For example, pension funds require a return of about 6 or 7 per cent and, of course, security in their investments. That could be provided by social and affordable housing. The cabinet secretary has met with all those people, but will she meet with me to discuss a firm proposal that would involve—but not necessarily require—Scottish bonds as a vehicle for taking the matter forward in 2026?

To ask the Scottish Government what discussions the housing secretary has had with ministerial colleagues regarding arrangements for accessing pension funds as a source of investment to build affordable and social housing. (S6O-05318)

I was tempted to intervene on the intervention. Of course, what happened to the Central Bar is wrong—that is why I am so pleased that there is going to be an inquiry. I am not opposed to what you are saying, because we must work together to make common sense prevail.

I appreciate the point about some businesses feeling that they do not benefit from BIDs. My office in Galashiels took part in the BID that has just started in that area. It is important to recognise that if BIDs are operated properly, they benefit the surrounding environment. A BID may not mean direct footfall to an individual business, but it will make the place look and feel better, which is good.

Will the member take an intervention?

I am aware that other Conservative members have referred to the body blow caused by the increase in employer national insurance contributions. If we add to that energy and supply costs, the blame can be laid at the door of the Labour Government at Westminster.

I, too, congratulate the member on securing the debate and wholly endorse the vital role of small businesses in sustaining the town centre and local economy. They are embedded in communities and support local events, football clubs and charities. They come in all shapes and sizes: shops, cafes, takeaways, pubs, manufacturers, a local cinema, a bingo hall—and that list is not exhaustive. Many survived the Covid years, which was tough going, and I thank them all for that. From Peebles to Penicuik and from Galashiels to Gorebridge, small businesses give our towns local employment and their character.

In passing, I note the exchanges on the issue of revaluations, which has been raised by my constituents. I am pleased that the Public Audit Committee is already initiating an inquiry, that the minister is on the case and that there is a willingness to work together across the parties. I welcome that, but I also gently remind the Opposition that there was once co-operation between the Conservatives and the SNP in here, which brought about the small business bonus scheme, meaning that some businesses pay no rates at all. Those were good days.

There are particular challenges in Gala and Penicuik, both of which have major supermarkets right on their doorsteps—Tesco and Asda in Gala, and Tesco and Lidl in Penicuik. However, I am not bashing supermarkets. They have their place, but their arrival has changed those town centres, although the town centre businesses are fighting back.

In Gala, the first festive gala was on Saturday 29 November, with live performances, markets, creative activities and the grand tree light-up. The gala brought a real sense of energy, with thousands of people choosing to spend their day in the town centre, which translated into meaningful support for local businesses. Indeed, many enjoyed an exceptional trading day, with several reporting record takings. There is an endeavour now to replicate that at different times of the year.

Penicuik town centre precinct hosts many local events. There is a very active community council that runs regular street fairs, summer fairs, the pumpkin patch and, of course, the biggest event of the year—the Christmas fair and Christmas lights switch-on. It is a great opportunity for local businesses to showcase what they are doing, and it draws local people back to the heart of Penicuik.

In those towns and across the Borders and Midlothian, the common ridings not only emphasise the local history and culture but help the tills to ring and provide work for blacksmiths, stables and hospitality.

I know many of my local businesses. For me, it would be invidious to name some and not others, but, following Douglas Ross, I will make one exception and name the Central Bar in Peebles, which is a free house that is small but perfectly formed. During Covid, Roddy MacKay, the owner, did not qualify for a bean in financial support. However, he did not lie down in defeat—he spruced up the interior, and there are now hanging baskets outside. He recently won an award for his little pub. For me, that is the spirit of a local business, which is replicated throughout my constituency. During those tough Covid years, and during the tough days now due to inflation and the economy, they can flourish—but they will always need local support.

Will the member take an intervention?

Will the member give way?

That was a bit graceless, Mr Leonard.

I am happy to be corrected, but I do not think that a victim statement influences the penalty at the end of the day. I do not think that it does, but no doubt the minister will clarify.