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All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
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Displaying 4779 contributions
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
A couple of weeks ago, I attended your reception in the garden lobby, which you spoke at. It was interesting that BlackRock pointed out that it is going to increase its workforce in Edinburgh from 1,000 to 1,500. Financial services forms 13 per cent of Edinburgh’s workforce but 30 per cent of the economy, so the sector punches well above its weight. BlackRock is to employ another 500 people and, if my memory serves me, I think that it manages £10 trillion—or whatever it is—of funds. The base is strong, but we must maintain the competitive advantage.
It is important to have start-ups and to support innovation in new businesses, certainly at Rachel Cook’s end of the scale, but is it also important to ensure that larger businesses continue to grow and thrive?
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
Louise, hospitality’s share of the economy is smaller, but the number of people who are employed in it is larger. You have raised a number of concerns about non-domestic rates and reliefs. However, I am not really seeing any pounds, shillings and pence being applied here. It is always frustrating for us looking at finance when people tell us what needs to be done without saying what additional resources will need to go into, say, supporting the hospitality sector. You have mentioned a number of areas where it can be supported, but what additional funding is the sector looking for across Scotland and how would that be financed?
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
What is the tipping point that you refer to in relation to taxation?
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
Okay. Is the FSB having discussions with the Scottish ministers about how the £15 million entrepreneurship fund could and should be spent?
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
That is absolutely fine; I just wanted to get your view on it and to know how important it is to you.
In your submission, you said that you want a
“more sensible approach to regulation”,
but you did not spell out what you mean by that. What devolved regulation do you think hampers small businesses in Scotland that we could try to remove or change?
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
What is that balance? Is it 30:70, 20:80 or 40:60? What are we talking about?
Finance and Public Administration Committee
Meeting date: 26 September 2023
Kenneth Gibson
The whole purpose of this inquiry is to try to present a report to the Scottish Government in which we say, “These are the priorities that the Government should take forward in the next financial year.” We know that, at this stage, there is a £1 billion funding gap and that finances are challenging. It is very easy for witnesses to come along and say, “You should spend more money in our sector.” We have already had that from all sectors, but it is simply not possible unless we raise taxation very significantly—which, frankly, other witnesses have suggested that we do.
What kind of additional reliefs are we talking about? I think that the latest figure for rates relief is £693 million. How could that be changed or increased, and how could any change or increase be funded to deliver more for the hospitality sector in Scotland?
Finance and Public Administration Committee
Meeting date: 19 September 2023
Kenneth Gibson
I think that some of the witnesses in the next panel will touch on that.
João—we started with you and we will finish with you.
Finance and Public Administration Committee
Meeting date: 19 September 2023
Kenneth Gibson
It is important that we do not compare apples with oranges. That was an important point.
I thank our witnesses very much. You have given us lots of food for thought for the second panel and beyond. We will have a break now.
11:17 Meeting suspended.Finance and Public Administration Committee
Meeting date: 19 September 2023
Kenneth Gibson
To stop them moving elsewhere?