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Seòmar agus comataidhean

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 4 November 2025
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Displaying 1294 contributions

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Finance and Public Administration Committee

Framework for Tax

Meeting date: 22 March 2022

Liz Smith

Precisely. We surely need that important data, particularly in the next four or five years, for which the projections from the Scottish Fiscal Commission on income tax revenue are very weak. Do we not need strong data about which other industries people who are displaced from oil and gas would go to and, in particular, about those people who would be able to earn equally high sums of money outside oil and gas, as that would obviously lead to increased revenues? I am not saying that it would be easy, but is some analysis being done to work out where the high-level industries of the future will be, in order to improve income tax revenue and therefore productivity and growth?

Finance and Public Administration Committee

Framework for Tax

Meeting date: 22 March 2022

Liz Smith

It is a crucial area, minister. We all hope that the Scottish economy will improve and do really well because, let us be honest, it has a lot of potential. However, the fundamental point, which just about every member has mentioned so far, is that we are not doing as well as we could be, because our income tax revenues are depressed and not growing strongly enough in relation to the block grant adjustments. That has repeatedly been the central point when the committee has taken evidence from economic specialists and official forecasters.

What I am driving at is the importance of getting the data that we need to inform the policy that the Scottish Government will have to engage with to ensure that revenues increase so that we are much more fiscally sustainable for the future, because Scotland is lagging behind at the moment.

Finance and Public Administration Committee

Framework for Tax

Meeting date: 22 March 2022

Liz Smith

But not as fast as the block grant adjustment.

Finance and Public Administration Committee

Framework for Tax

Meeting date: 22 March 2022

Liz Smith

I do not disagree, minister. The block grant adjustment is essential, but so, too, is a tax structure that benefits Scotland by increasing productivity and growth, and encouraging investment.

The convener mentioned the fact that there is potential for internal migration from other parts of the UK—people coming from other parts of the UK to Scotland, not to retire but to be active in the labour market. What analysis has the Scottish Government done of the reasons for those people coming to Scotland and where they have gone? On what basis has their productivity and addition to the economy been available to those who are looking at tax policy?

Finance and Public Administration Committee

Framework for Tax

Meeting date: 22 March 2022

Liz Smith

That they did not.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 16 March 2022

Liz Smith

Was the board made aware of any concerns between the former chief executive and Scottish Enterprise?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 16 March 2022

Liz Smith

On that theme, what do you feel that SNIB has to do in order to attract and help the private sector to become more engaged?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 16 March 2022

Liz Smith

Mr Watt, from having met you before, I know that, when it comes to the very large sums of public money that the bank holds, you agree whole-heartedly that there should be full accountability and transparency about how the money is spent. In particular, you have said publicly and privately that the way that the public are made aware of the objectives of the bank and the direction of policy is extremely important. I want to be absolutely clear about whether, in the past year, the board was made aware of any disagreements between the then chief executive and Scottish Government ministers about the direction of policy or the objectives of the bank. If there were any disagreements, what were they?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 16 March 2022

Liz Smith

In the past year, has the board been made aware of any disagreements at all, which are unrelated to policy and the direction of the bank?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 16 March 2022

Liz Smith

Thank you very much for that.

When you spoke to the Enterprise and Skills Strategic Board in August 2021, according to the minutes, you said that “part of the role” of the SNIB

“is to solve the lack of private sector investment in certain projects.”

Your responses to Fiona Hyslop’s line of questioning on the same issue were very interesting. Since that meeting, which was six or seven months ago, have your fears been slightly allayed? Is putting the money in becoming more attractive to the private sector?