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You touched on the fact that we need to look at the state that some of these vacant buildings are in. What are the barriers to their being brought back into use? Are they part of an investment portfolio that is not high on people’s horizons, or are there taxation problems such as VAT being payable on renovations but not on new builds? What should we be looking at in order to encourage property owners to bring buildings back into use?

Good morning, Professor Sparks. I want to ask you about empty properties. In your opening remarks, you said that there are too many shops in the wrong locations. Given the whole range of empty properties that we have in our towns and cities, from small independent units to large department stores, how can we tackle the blight of vacant and derelict buildings in our towns and villages?

Okay. Thank you.

You mentioned start-ups. Last week, we heard evidence about start-up street in Renfrewshire. How much demand for commercial units is there among new, emerging and specialist retailers?

On the point about getting property owners engaged, I am conscious that, if a home is left empty for more than 12 months, the council can charge double the rate of council tax. Would it force property owners to engage with empty properties if something similar was brought in for non-domestic rates?

Good morning, cabinet secretary. You touched on productivity and I will ask you a few questions on that.

A report published in December by the University of Glasgow’ and the Productivity Institute highlighted that

“Scotland’s productivity growth has outperformed all regions of the UK”

over the 1999 to 2019 period. However, our productivity is still below the United Kingdom average. What are the challenges that Scotland faces in continuing to improve its productivity?

My next question was going to be about how we support the areas that are not doing as well as the likes of Edinburgh, Stirling or Aberdeen.

On productivity growth, Scotland has eight industrial sectors, including energy and finance, that outperform the UK average. What steps will the strategy take so that other companies and sectors can learn and understand how business can drive productivity improvements?

I have a final point on innovation. You said that you have invested £191 million in 13 projects. We have heard that your biggest investment is in forestry and that your next biggest investment is in housing. Of the 13 projects, which are your innovative projects so far?

You commented on the need to make good investments. You also spoke about the bank’s risk appetite. How do you balance the need to make good investments with innovation and the bank’s risk appetite?

Good morning, Mr Watt. I will ask about the bank’s mission to address innovation. You have already talked about the need to improve productivity. How does the bank assess investment opportunities for innovation and what weighting is given to how an opportunity would improve productivity?