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We have seen some of the challenges. In the north-east and Moray, the Government committed £500 million over 10 years, but it has reduced that because of the situation with financial transactions. When the announcement was originally made, you would have thought that it would be £50 million a year, but we are at only £75 million at this point. That might be an example of the practical difficulties in delivering on a commitment that has been made.

We move to Michelle Thomson, followed by Willie Coffey.

That would be helpful, too.

We have a problem with Michelle Thomson’s connectivity. I will give it another few seconds.

I will invite Murdo Fraser to ask his questions and come back to Michelle Thomson.

It is imminent. It has been for a while.

Colin Smyth, do you wish to ask a question before we close?

Thank you very much. That brings us to the end of this morning’s session. I thank Professor Roy and Professor Bell for their evidence. We now move into private session.

Professor Roy, do you want to add anything about what the barriers to private finance might be? Professor Bell spoke about interconnectedness between the UK Government and the Scottish Government and how addressing the challenges needs to be a shared venture. Is there more that we could do in Scotland to address the barriers to private finance, or are we waiting to see what the UK Government will do?

Good morning, and welcome to the 23rd meeting in 2024 of the Economy and Fair Work Committee. Our first item of business is a decision on whether to take items 3 and 4 in private. Are members content to take those items in private?

Members indicated agreement.

Thank you. I will bring in Michelle Thomson.