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Chamber and committees

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 19 June 2025
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Displaying 790 contributions

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Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

That is the first time that the company said that it would do that, but had it intimated previously that it might consider it?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

It seems to me that it first became public when it was mentioned by the minister in the chamber yesterday. I certainly did not see anything else. That might follow the process, but other organisations had not heard. That might not be an issue for you, but it is interesting. You heard directly from CSL.

There was certainly what was described as a “begging letter” sent out to producers and retailers—I think last week—asking for more support to keep CSL going. Were you contacted about additional support?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

The hierarchy of creditors was mentioned. Obviously, that is something that the administrators will look at. Many organisations will have lost money—SNIB included. Some will be very small and will not be able to deal with the loss, given the other additional costs that they have had. Is it your understanding that SNIB is higher in the hierarchy of creditors than smaller organisations? Where do you fit in? Is there potential that you will be reimbursed at least some of the money ahead of smaller organisations or other private organisations?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

I have just one more question, if that is all right. How will you review what has happened? You have talked about mistakes that have been made, and my colleagues have asked about due diligence. Is there a formal process, perhaps once the dust has settled, to formally review the matter?

10:00  

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

It is to clarify an issue, convener. You said that Scottish ministers were not involved in the original decision to lend. Were reassurances received either directly from ministers or via CSL that the scheme would go ahead that might have influenced you, for example, in considering the second draw down?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

I was interested to hear what you were saying to Maggie Chapman about the importance of geographic and rural distribution. As a Highlands and Islands MSP, I know that that is very important to my region. The broadband issue brought up nicely the question that I was going to ask. You are obviously supporting a roll-out, as is Highlands and Islands Enterprise, the Scottish Government and the UK Government. There are lots of different organisations involved, so co-ordination and working together are key. In what one of my colleagues and others have described as the cluttered landscape of public lenders, how do you make sure that that co-ordination, collaboration and working together are done? There needs to be work done with local authorities as well—there are so many organisations out there. How do you make sure that that is done?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

I would be grateful if you could provide the information on the money being drawn down.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Good morning, and congratulations on your appointment to your new role, Mr Denholm. I have a number of questions. I will make them quite quick—some are just for information.

You have referred to the money as a debt facility, but also as a loan. Is it the straightforward case that the £9 million is with Circularity Scotland? Was it money that it could draw down on or has it all gone to it?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Is there any from other organisations that you have been involved with?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Jamie Halcro Johnston

Monday?