The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 3032 contributions
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
Perhaps you could comment on my next point, too, Andy.
The logic that Gregor Irwin is using indicates that, in high-risk circumstances, the bank perhaps would not seek a commercial rate of return or it might seek a return that would scare off some of the other investors.
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
That leads me to another point. The bank is not a fully commercial operation—it is offering a mission. It is also giving advice to private investors. How is the conflict between those two aspects dealt with?
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
Is it only multiyear flexibility that was not agreed? Is that the only issue?
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
I mean from the point of view of SNIB. To repeat, SNIB said that it welcomed the flexibility of the £25 million, but noted that it did not go as far as is needed. It used the word “needed”, not “wanted”. What is the piece that is missing?
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
That is understandable. That would be normal commercial activity.
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
Okay. That is clear.
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
Do you have any timescale for completing these discussions?
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
If the bank is to successfully move to becoming a perpetual fund, do you anticipate that any structural changes in the bank would be required, or would it simply be a technical change?
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
If the bank becomes a perpetual fund, there will be different profiles of public finance risks, so there will need to be discussions—at least between the Government and SNIB—about how those risks are managed.
Public Audit Committee
Meeting date: 10 September 2025
Colin Beattie
If the UK Government does not agree to any measures that would make the bank a perpetual fund, what is plan B? How will you give the bank the flexibility that it needs?