Skip to main content

Language: English / Gàidhlig

Loading…

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.  

Filter your results Hide all filters

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 28 April 2025
Select which types of business to include


Select level of detail in results

Displaying 1499 contributions

|

Economy and Fair Work Committee

Subsidy Control Bill

Meeting date: 19 January 2022

Michelle Thomson

I want to focus on the specific example of the Scottish National Investment Bank. The rules are certainly not yet clear as to what determines market failure. SNIB was set up when we were in the EU, when there was a clear set of rules in that regard. The bill has now passed its third reading in the House of Commons, but we have no certainty whatsoever on the rules relating to market failure. We heard in last week’s evidence that that could impact and limit our net zero ambitions. Do you have any specific concerns about SNIB, given its importance to Scotland’s economic development?

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

I noticed that, when you appeared in front of the Public Bill Committee at Westminster on 26 October, you stated:

“From the point of the view of the devolved Administrations, for example, the passage of the Bill will still leave them pretty much in the dark as to what they can and cannot do.”—[Official Report, Subsidy Control Public Bill Committee, 26 October 2021; c 12, Q8.]

Do you stand by the observation that you made then?

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

Thank you. I am aware of time, so I will stop there.

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

How have we ended up in the position in which the bill will go through its second reading later this month—next week, I think—yet we still do not have the necessary level of definition? It is possible that the bill could go all the way through and, under what is proposed at the moment, it will be left to the Department for Business, Energy and Industrial Strategy to make the decisions. I do not want to put words in your mouth, but the bill seems to have the potential for bypassing ministers in the UK Government, never mind the Scottish Parliament, altogether. How on earth have we ended up in this position?

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

Before we hear from others, do you think that, if the SNIB is fundamentally constrained to operating in areas of market failure, that could—from a risk perspective—have a cooling-off effect for the bank? Obviously, the bank’s risk assessments will be tightly honed, given the nature of what it is doing.

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

I see that George Peretz wants to come in.

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

I am keen for others to have the chance to respond. The point that we started with is that, first and foremost, the detail to establish a scheme needs to be in place, and it appears that that detail, whether specifically for the SNIB as regards its role in relation to market failure and beyond, is not yet clearly established.

I am aware that other members want to come in, but before I give way to them, perhaps Professor Fothergill or Mr Heddle would like to respond to my question about the SNIB.

Economy and Fair Work Committee (Virtual)

Subsidy Control Bill

Meeting date: 12 January 2022

Michelle Thomson

Good morning, everybody. We have received quite a few submissions about the bill’s potential impact on economic development. In his submission, Professor Bell points out the difference between horizontal and vertical development. It is perhaps a matter of regret that we do not have a representative of the Scottish National Investment Bank on the panel. As you will be aware, the SNIB involves an investment by the Scottish Government of £2 billion over 10 years, which is a serious amount of public money. In its submission, the bank says:

“It goes without saying that if development banks are to be constrained to operating in areas of market failure, the new UK Subsidy Control Regime must be at least as wide as its predecessor, and/or sufficient discretion to public bodies and devolved administrations afforded.”

I want to get your views on the Scottish National Investment Bank in particular, as it seems to be a slightly different model, given that it was set up specifically to aid economic development in Scotland in a key way, not least on net zero. I imagine that, if that is the case for the SNIB, it will also be an issue for the British Business Bank. Perhaps Professor Fothergill or Professor Bell might like to answer in the first instance.

Finance and Public Administration Committee

Fiscal Framework (Independent Report)

Meeting date: 11 January 2022

Michelle Thomson

I can see that David Phillips wants to come in. He has put an R in the chat box.

Finance and Public Administration Committee

Fiscal Framework (Independent Report)

Meeting date: 11 January 2022

Michelle Thomson

I have a question for all three of the Davids, but perhaps Professor David Bell could start. We have focused on Scotland and Wales, but I am interested in what helpful precedents operate elsewhere in the world, particularly those that deal with issues around fiscal transfers and divergence over time. I feel as though we are dancing on the head of a pin, particularly in relation to indexation methods, and some of those problems are not unique. I would appreciate some thoughts from Professor Bell on that in relation to the review.