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Displaying 1275 contributions
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
No. The last event in the fiscal year is the supplementary estimates.
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
We have all the information pertaining to the UK Government’s position in-year. However, we continue to have to manage the budget until the end of this financial year, of course, and it is still possible for changes to take place between what is reported now and what transpires at the provisional outturn and when the accounts are lodged.
Niall Caldwell, do you want to add anything?
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
Mr Johnson, did you refer to annex A?
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
I beg your pardon—it is table 1.2?
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
I ask Niall Caldwell to come in on that point.
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
—and comparing the budget as presented at stage 3 at the start of the year—and as passed by the Parliament—with what we see now. It is a question around transparency in presentation to make it easier to understand.
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
As you will be aware, the chief executive officer of Ferguson Marine (Port Glasgow) Ltd provided an update on costings in his letter to the Net Zero, Energy and Transport Committee in September 2022. He advised that a further £80.6 million net of warranties would be required to complete both vessels, compared with the budget of £122 million net of warranties that was set out to the Parliament by the Cabinet Secretary for Finance and the Economy on 23 March last year. That will take the total cost to build the ferries since Ferguson Marine came into public ownership to £202.6 million, inclusive of £6.2 million of contingency costs. The figure of £202.6 million includes the £57.6 million of capital funding that is included in the 2023-24 budget.
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
Yes, I am happy to provide that. Speaking generally, the committee is aware of the reprofiling and transfers that take place across the entire budget in response to changing circumstances and demand-led schemes, which are reflected in the budget revision process. I recognise that the autumn budget revision process is some time away yet and that there is a desire for information to be provided just now. I will endeavour to provide as much clarity as I can in response to the points that you have made.
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
There is a recognition—from both the ABR and the SBR, and following the lower-than-anticipated demand—that the points that you highlight are pertinent. That is why work has been undertaken on project management, to help to ensure that there is a pipeline of projects, going forward, and to ensure that the schemes can be more effective at delivering the outcomes that they are intended to achieve. We recognise, of course, that many factors will impact on demand, including those with which we are familiar, such as supply chains, workforce and materials. We are alive to those issues, however, and work is under way in the relevant division to address them.
Finance and Public Administration Committee
Meeting date: 7 March 2023
Tom Arthur
I ask Niall Caldwell to respond to that question, if that is okay.