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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 18 December 2025
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Displaying 864 contributions

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Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

How do you decide which projects you are investing in? I note that 70 per cent of all trees planted in the UK are being planted in Scotland. How do you decide what your risk appetite is?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

My last point is about leverage. You referred to the £800 million that you have invested to date, and you got about £1.4 billion back from private capital—that is a leverage ratio between 1.6 and 1.8. How does that compare with other organisations in a similar space?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

Is that because you are a new bank and there is risk? I asked a question earlier about your risk assessments.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

Good morning. Some of the questions that I was going to ask have already been covered, but I have a few follow-up points. On the ambition for you to be a perpetual investment fund, you said that you want to try to achieve some progress in the next 12 months. Is there any requirement for rule changes—either in the bank’s constitution or the governance rules—for that to happen?

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

On the Scottish Government’s reserve, I believe that the Government gave you a bit of flexibility, with £25 million.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

Absolutely.

Economy and Fair Work Committee [Draft]

Pre-Budget Scrutiny 2026-27

Meeting date: 24 September 2025

Gordon MacDonald

I have a question about your risk appetite. First, I welcome your investment of £34 million into Lost Shore, Scotland’s only surf resort, which is in my constituency. It is a fantastic facility. We heard from Murdo Fraser about Gresham House, which I think that you are putting £50 million into.

Economy and Fair Work Committee [Draft]

Pre-budget Scrutiny

Meeting date: 17 September 2025

Gordon MacDonald

I have a couple of questions for SOSE. First, on the number of jobs supported, last year you had 1,706 as your outturn for 2023-24, your target was 1,290, but you only actually achieved 377. What happened?

Economy and Fair Work Committee [Draft]

Pre-budget Scrutiny

Meeting date: 17 September 2025

Gordon MacDonald

So, it is more a timing issue rather than those jobs not being created.

Economy and Fair Work Committee [Draft]

Pre-budget Scrutiny

Meeting date: 17 September 2025

Gordon MacDonald

Good morning. On the write-offs, for clarification, how many companies were involved in that £31.5 million write-off? What proportion is that of the total number of companies that you are investing in?