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Cabinet secretary, we missed the end of that sentence. I think that you were offering to share further information with us regarding Scottish Enterprise.

Richard Shearer, would you like to come in?

I have a couple of questions about the FTs on the back of Michelle Thomson’s questions. The cabinet secretary will know that Scottish Enterprise set out to the committee that it is facing a funding gap as a consequence of the drop in financial transaction returns.

Also, can you address the issue of the SNIB? The assumption was that FTs would provide the source of capital for the SNIB. Is the position on FTs to wait and see what the UK Government decides, or is an alternative plan being put in place for the SNIB? According to the forecasting that was originally done, it will be challenging if the financial transactions continue to be reduced.

Please come in, Ms Gray.

Thank you. Before we close, I will return to the issue of the Scottish National Investment Bank. You have given a firm commitment this morning to finance the SNIB and have also just referred to the bank’s independence. Has the Government set a target rate of return for the bank?

You will be aware that a number of bonus or incentive payments have been made in the initial months of the bank’s establishment. Previously, the Government said that there would be no annual financial target-based bonuses within the bank and there would be medium to long-term incentive schemes. Do you have a view on the recent bonuses and the payments that have been made in the short lifetime of the bank?

We will take a short break before the next panel.

The minister has indicated where he would like the UK Government to make amendments. You might be aware that the Delegated Powers and Law Reform Committee argued that

“a statutory requirement to consult the affected regulator(s)”

on international treaties should be introduced. Is that something that the Scottish Government supports and will be asking the UK Government to look at?

Finally, the Delegated Powers and Law Reform Committee talked about clause 3 of the bill compelling devolved regulators to charge fees. The approach normally tends to be that you try to reduce barriers to people coming to work in and support our economy and public services. Do you have concerns? Have you had any discussions with devolved regulators about the proposal to charge fees? Also, does the clause include the level at which the fee would be set, or would we have flexibility in setting the fee?

I thank the minister and the officials for attending this morning. I now bring this evidence session to a close.

We have a few minutes left so, if the panel would like to mention anything that they have not been able to say this morning, they can do so now. [Interruption.]

I am sorry—I see that there are a couple of supplementary questions.