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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 10 November 2025
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Displaying 3464 contributions

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Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Thank you very much, director general. I begin with the briefing note that you sent to us in advance. It includes an organogram featuring people’s job titles and so on. How many people work in the strategic commercial assets division?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

I will leave that there, because of time, and invite Colin Beattie to put some questions to you.

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Where is the division located?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Okay. Finally from me, you have mentioned the expression “in distress” a couple of times. Could you define what you mean by “in distress”? How do you decide that a business is “in distress” and might require intervention?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Thank you very much. At the start of this morning’s evidence session, I said that we were hoping for some illumination, and I think that we have had quite a lot of illumination actually. It has been a useful evidence session. We might still have some unanswered questions that we want to put to you, and we might follow those up with you.

I thank you, director general, for your time and for the range of questions that you have been able to field. Mr Rhatigan and Mr Cook in particular, I thank you both for answering some more far-fetched and difficult questions than you were perhaps anticipating before you came in—[Interruption.] I am speaking about my own questions. [Laughter.]

Thank you very much indeed for your co-operation this morning. With that, I move the meeting into private session.

10:46 Meeting continued in private until 11:20.  

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

And is directly accountable to ministers.

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Yes, it was. Thank you.

Secondly, you said that you thought that the global refinancing would need to be completed before the investment in the billet plant would be made. What happens if that does not materialise?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Okay, thank you. I am going to bring in our deputy convener, but before I do so I have a couple of quick questions, which I hope will have quick answers.

Mr Rhatigan, did you say that the guarantee that the Scottish Government struck with GFG Alliance was also offered, via Rio Tinto, to the other four prospective bidders?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

And the venue of that is?

Public Audit Committee

Scottish Government Strategic Commercial Assets Division

Meeting date: 30 May 2024

Richard Leonard

Our principal item of business this morning is to consider the Scottish Government’s approach to financial interventions, and in particular to inquire into the operations of the Government’s strategic commercial assets division. I am pleased that the following witnesses are joining us this morning to help to illuminate that question and to answer others that we might have.

I am very pleased to welcome Gregor Irwin, the director general of economy at the Scottish Government. Alongside Mr Irwin is Colin Cook, who is the Scottish Government’s director of economic development, and Dermot Rhatigan, who is the deputy director of the strategic commercial assets division.

As I have said, director general, we have some questions to put to you. Before we get to those, however, I invite you to make an opening statement.