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Displaying 7219 contributions
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Susan, there is a wonderful phrase in the annual report and accounts, which for simple people such as me seems to be gobbledygook. It is “annual out-performance incentive plan”. For most people, that is a bonus. What bonus do you expect Alex to be on if Douglas was paid £80,000 in bonus last year?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
I understand that, but I am just saying that it is not even a 5 per cent return; it is about a 2 per cent return on the money that is out there. Anyway, thank you for that. I understand that.
As there are no other questions, I thank the witnesses for attending this morning.
The committee’s stage 1 report on the Circular Economy (Scotland) Bill will be published in early 2024. I am not going to put an exact date on it.
That concludes the public part of our meeting and we will now go into private session.
12:04 Meeting continued in private until 12:36.Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
I turn to the next questions. Douglas, have you finished all your questions?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Jim, I am sorry for being difficult, but I am trying to keep the questions away from constituency issues. I respectfully suggest that Alex Plant and Peter Farrer come back to you directly on that. Maybe Peter could make a brief comment on it. I know that the matter is really important, but I am quite strong on the need for this committee to look beyond the constituency. I will let Peter come back to you on that and then I will allow you to come back in briefly after you have thought about his response.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
There is a conflict in what you get in, what you can put your charges up by, and what you can pay your staff.
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
[Inaudible.]
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
You have committed £460 million, and you have got £10 million back. Is that right, or have I got that wrong?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
That brings us to the end of our session. Johanna Dow, you are obviously sitting there feeling that Business Stream is perfect, because you have not been asked any questions; I apologise for that.
Alex Plant, Peter Farrer and Susan Rice, there are a couple of questions that we wanted to ask on the Circular Economy (Scotland) Bill, which is currently going through the Parliament, but sadly we have run out of time, so I am going to ask the clerks to write to you all with those questions. I ask respectfully if you could answer them as quickly as possible, because we are considering the bill as we speak.
Thank you all very much. It has been an extremely interesting session. I briefly suspend the meeting to allow for a changeover of witnesses.
10:51 Meeting suspended.Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
However, longer-term investments mean that you tie up your capital, which means that you cannot replicate the investment as and when it is needed. What I guess I am trying to ask you, in a very clumsy way, is whether you would ever be below what the bank base rate is plus about 4 per cent?
Net Zero, Energy and Transport Committee
Meeting date: 31 October 2023
Edward Mountain
Yes, I understand that. I am trying to work out whether other people are following your lead. Private investment banks are getting involved in forestry, for example, and I am trying to find out whether there are other such enablers.