Skip to main content

Language: English / Gàidhlig

Loading…

Seòmar agus comataidhean

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

Criathragan 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 22 April 2025
Select which types of business to include


Select level of detail in results

Displaying 1828 contributions

|

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

That is why I deliberately used the word “perception”—

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

—because perception is important. It is maybe not something that you often consider in the banking world, but perhaps you should.

I have a final question. Does Circularity Scotland have any assets? Does it own anything?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

Okay. When you make investments, do you always try to invest in companies that are based in Scotland to ensure that the money is, as you have just said, spent in Scotland?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

I am afraid that I could not find that address anywhere when I looked.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

Thank you.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

I will follow up on that last question from Colin Smyth about the Gresham House forestry fund, because I looked at your website, which says that 60 per cent of the fund will be directed to Scotland. Where is the rest going?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

Okay. According to the statement on your website about mission impacts,

“Investment in Travelnest supports the Bank’s mission to invest in innovation and industries of the future and supports key elements of the Scottish Technology Ecosystem Review.”

That review was written by the Government’s chief entrepreneur, Mark Logan, who was a director of Travelnest. When Mr Logan appeared before this committee in January this year, I put it to him that there was a potential conflict of interests there, with money going to Travelnest while he was a director. He agreed and said that he had already resigned as a director although, according to Companies House, he resigned 15 days after that. However, he is no longer a director. Do you accept that there was a conflict of interests there?

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

I will move on. I have just one more question. I know that you work with the UK Infrastructure Bank. Do you have a memorandum of understanding with it yet?

11:00  

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

That could be quite a useful relationship.

Economy and Fair Work Committee

Scottish National Investment Bank

Meeting date: 21 June 2023

Graham Simpson

You say you did a thorough job, but if you had done a really thorough job, we would not be in this mess, would we? That is the reality. You should have foreseen the risks—[Laughter.]—ahead. You have described the Internal Market Act 2020—that is, having a scheme that works across the whole UK—as “a hurdle”. It is a pretty big hurdle and we have ended up with a company in administration. Is not it a fact that if you had done proper due diligence, you would not have gone ahead with the loan?