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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 5 May 2021
  6. Current session: 12 May 2021 to 15 June 2025
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Displaying 3214 contributions

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Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

I understand that.

The final recommendation—again, you alluded to this much earlier in this morning’s evidence session—that I want to put to you was about the establishment of

“a ‘Shareholder’ function with responsibility for managing ongoing interventions.”

I do not know whether, to all intents and purposes, that is the strategic commercial assets division’s—

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

What is the situation now? I refer to the comments of Mr Gupta, the executive chairman of the GFG Alliance, in his press release in February. He said that the agreement was a

“great relief ... It will enable us to push on from the deep challenges caused ... we are confident of being able to access longer-term financing to build on the significant investments we have already made”.

What does that mean for Lochaber, Motherwell or Clydebridge?

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

I will finish with this point. Earlier in the meeting, Mr Rhatigan, I think, said that he thought that the GFG Alliance arrangement in Lochaber meant that the Scottish Government had “big exposure”. The committee’s continuing interest in the fortunes and business performance of the GFG Alliance, with the Serious Fraud Office inquiries and all the other things that go along with that, lies in what exposure that places on the Scottish Government and Scottish public funds. We therefore retain a keen interest in this area.

On that note, I will have to draw this morning’s proceedings to a close. We have run quite a way over our anticipated time.

I thank our witnesses, Dermot Rhatigan, Colin Cook and director general Gregor Irwin, for their attendance and willingness to answer our questions. Thank you very much for your evidence this morning.

11:41 Meeting continued in private until 12:05.  

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

I will bring the deputy convener back in a little bit later, but Graham Simpson has some questions to put to you.

Public Audit Committee [Draft]

Decision on Taking Business in Private

Meeting date: 21 May 2025

Richard Leonard

Good morning. I welcome everyone to the 16th meeting in 2025 of the Public Audit Committee. Agenda item 1 is for the committee to decide whether to take agenda items 3, 4 and 5 in private. Do we agree to do so?

Members indicated agreement.

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

Agenda item 2 is consideration of the Scottish Government’s approach to financial interventions, in particular the strategic commercial assets division and its work. I am very pleased to welcome Gregor Irwin, who is the director general of economy at the Scottish Government, Colin Cook, who is the Scottish Government’s director of economic development, and Dermot Rhatigan, who is a deputy director and the lead on the strategic commercial assets division. We have some questions to put to you this morning but, before we get to them, I invite you, director general, to make an opening statement.

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

The default position of the contract with FMI was secrecy, was it not? There are two paragraphs about that in the letter that you wrote to me on 4 April. The first talks about how

“all information will be treated as commercial in confidence by the parties.”

That was the condition of your contractual arrangement with FMI. The second states:

“In addition, FMI applied a disclaimer to the report which requires their consent for the report, or information contained within the report, to be shared beyond the parties to the contract.”

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

Do those consultants have any exposure to risk themselves or do they just get a reward from those exercises? If things have not gone well—clearly, they have not gone that well at FMPG—does FMI assume any responsibility?

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

Okay. We will see what happens in the future.

I turn to some of the other recommendations in the transparency review. Can I get an update from you on where you are with that? You pledged to create a web page with up-to-date information on SCAD and its work. Have you done that?

Public Audit Committee [Draft]

Scottish Government Strategic Commercial Assets Division

Meeting date: 21 May 2025

Richard Leonard

So that is a no as well.