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 2524 contributions
Delegated Powers and Law Reform Committee
Meeting date: 2 September 2025
Stuart McMillan
That concludes the public part of the meeting.
10:05 Meeting continued in private until 10:29.Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
That is very helpful. You have indicated that you genuinely want the bank to operate as a perpetual investment fund, but it is clear that the funding rules are getting in the way and are stifling some of that.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
Is it correct that that would not reduce the level of governance and oversight that the Government and our committee would have in relation to the bank?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
There has been a bit of movement with the £25 million of year-end flexibility, which is positive. Have any other elements of additional flexibility been provided to the bank?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
If there are no further changes to flexibility, how do you see that affecting the bank over, say, the course of the next five or 10 years?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
Yes, absolutely. I grew up in Port Glasgow, where, apart from some juice bottles, recycling was not really much of a thing, as you know.
The bank operates with single-year funding allocations from the Scottish Government, and there will obviously be some challenges with that. You touched on that area in your earlier comments. I am keen to get a bit more understanding of how you manage to deal with that and align funding with commercial activity, including in relation to your preparedness and ability to manage investment losses.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
Is that flexibility already in operation?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
Okay. You gave one example, but are there any other examples—I am not looking for the names of companies—where the lack of flexibility has had an impact on what you do?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
Mr Denholm, do you want to come in?
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Stuart McMillan
That is helpful. Thank you.