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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 24 October 2025
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Displaying 1621 contributions

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Economy and Fair Work Committee

Business Investment Outlook

Meeting date: 11 January 2023

Fiona Hyslop

That is interesting. We are also looking at different sectors, such as hospitality, where there is a different impact.

I will put this question to Claire, before I move on to opportunities. Based on your membership, what is the current status of constraints in relation to investment?

Economy and Fair Work Committee

Business Investment Outlook

Meeting date: 11 January 2023

Fiona Hyslop

Thank you. James, do you want to comment? Have you had a chance to reflect on the draft energy strategy and just transition plan that was published yesterday? I want to give you an opportunity to talk about investment outlook opportunities and anything that you want to pick up on in relation to current investment constraints for your business.

Economy and Fair Work Committee

Business Investment Outlook

Meeting date: 11 January 2023

Fiona Hyslop

I know that my colleagues want to cover more skills and training issues. If it is okay with you, convener, I will ask Jonny Clark to comment on the energy strategy. Jonny, is there anything that you want to say about the investment outlook and what comes through on that in the strategy?

Economy and Fair Work Committee

Business Investment Outlook

Meeting date: 11 January 2023

Fiona Hyslop

Finally, I ask Jon O’Sullivan to reflect on the opportunities for investment, perhaps informed by the energy strategy, if he has had a chance to look at it.

Economy and Fair Work Committee

Business Investment Outlook

Meeting date: 11 January 2023

Fiona Hyslop

Good morning, and thank you for joining us. I will cover the outlook for investment for businesses, looking at current constraints, but also at what you see as opportunities.

I will stay with Jon O’Sullivan from EDF for now. There are issues around the UK autumn statement, the latest support for businesses in energy, and yesterday’s announcement on business support for energy in particular. I do not know the implications of energy use for you as energy companies yourselves. It would be helpful to get a sense of that—or do you more see the knock-on cost impact in the supply chain? What are the current constraints around business investment for you as a company?

Economy and Fair Work Committee

Business Investment Outlook

Meeting date: 11 January 2023

Fiona Hyslop

I will put this question to Jonny Clark. Are there any direct impacts of the increasing energy costs and so on for you as a company, or are they more from the supply chain?

Economy and Fair Work Committee

Business Investment

Meeting date: 21 December 2022

Fiona Hyslop

Stacey Dingwall, I understand that the FSB has said that a third of small firms expect to scale down or cancel their planned investment for business growth should energy support from the Government end. That would have an impact. You also refer to the Welsh Government looking at loans from the Development Bank of Wales for green investment in particular. Scotland already has loans and grants for green investment for businesses, which tend to come from Scottish Enterprise rather than the Scottish National Investment Bank. Is it that small businesses in Scotland are not applying for funds just now, or do those funds need to be expanded? What are your suggestions to ensure that there is either green investment for energy innovations or general investment for businesses?

Economy and Fair Work Committee

Business Investment

Meeting date: 21 December 2022

Fiona Hyslop

Fergus Mutch, I am interested in your Aberdeen members and the different scale of the companies. First, what energy price support would you like to see from the UK Government, and how could that be co-ordinated with the Scottish Government? Secondly, what has been the impact of the UK Chancellor of the Exchequer’s mini-budget on your membership and the decisions that they are taking about future investment? Is there anything in the Scottish budget that has implications for investment? I am thinking about energy-targeted policy, the impact on investment and what is required to encourage your members to invest.

Economy and Fair Work Committee

Business Investment

Meeting date: 21 December 2022

Fiona Hyslop

Carolyn Currie, what would a targeted energy support scheme look like for women-led businesses?

Economy and Fair Work Committee

Business Investment

Meeting date: 21 December 2022

Fiona Hyslop

I thank the witnesses for joining us. My first question is for Clare Reid and is about energy price support. The UK Government has indicated that energy price support for households and businesses will be replaced by a more targeted policy in spring 2023, although there has been disappointment that we have not had an explanation of that before Christmas. If there is to be targeted energy price support for businesses from the UK Government, what will that look like? How could that best be co-ordinated with devolved areas that the Scottish Government works in?