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I have a few questions for Stuart Black and Jane Morrison-Ross from the enterprise agencies, and it is fine if they want to bring in their colleagues.

We have already touched on capital budgets. Earlier this year, the Scottish Fiscal Commission predicted a 20 per cent cut in the availability of Scottish Government capex over the next five years. We also know that the UK has seen low capital investment in comparison with other advanced economies.

That investment ultimately flows to you. Can you talk about how the short-term nature of capital budgets and the potential for variation within years affect your strategic and long-range planning?

I know that Stuart Black has mentioned the issue, but I am interested in his views on it as well.

I will ask for a last word from Stuart Black, because I know that the convener is keen to move on. With regard to your focus on encouraging women-led businesses and diversity in general, do you routinely disaggregate data? How is that split looking?

Do Stuart Black and Jane Morrison-Ross have anything to add?

I am sure that we will hear more.

Precisely.

Jane Morrison-Ross has triggered a further question, which I will put to both enterprise agencies. We know that private capital will need to be leveraged to establish the industries and supply chains that will get us to net zero. What sense do you have, anecdotally, about the extent of private capital that can be leveraged? Traditionally, we hear that there is a lot of that available if the right projects are found, but I am interested in the personal experience of both agencies.

Before I move on, I have a final point on this, which is perhaps for the numbers guys. Obviously, it is very inefficient to have the variability. Do you collect data on sunk costs at all? There must be quite a lot of sunk costs when you have a projection of £X and it suddenly turns out to be £Y.

Is the crowding in of private investment flowing towards what you consider to be the right business—in relation to matters such as fair work, ethical stance and sustainability? Are you making the Scottish Government or SNIB aware that you have that scale?

I hear that clearly, and I also recognise what you say about the banks.

My last question is to both the enterprise agencies. The recent programme for government included a commitment to

“Increase the number of women starting and scaling businesses”,

and it mentions our partnership with the enterprise agencies to enable that. Will you tell us more about what is going on in that regard? This is a chance for you to evangelise.