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Official Report: search what was said in Parliament

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

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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 4 May 2021
  6. Current session: 13 May 2021 to 29 January 2026
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Displaying 1148 contributions

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Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

We are. I absolutely reject the suggestion that we are not reinvesting it. Last year, £150 million was pledged to invest in the supply chains of these companies. We are reinvesting the money through enterprise agencies and the Scottish National Investment Bank. Where it is appropriate to do so, the bank can take an equity stake.

You mention other countries. I would be really interested to know what the annual capital budget is of some of those other countries, because I would venture a guess that it is somewhat larger than £5 billion a year.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

Is that for regeneration?

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

That is a matter for Scottish Enterprise. I do not believe that it goes into the process with that approach. I believe that it takes the approach of thinking, “What do we need Scottish Enterprise to be doing? How do we make it fit for the future?” It is engaging in conversations with people.

I do not have a number, because there is not a number.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

We do.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

We live ever in hope.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

Happily.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

I hope that the committee can take comfort from the fact that I listen to its suggestions and then act promptly. On the question of moving from £1 million to £10 million, having now set the standard of acting promptly, we will go away and see what else can be done.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

Yes, and I will let you ask that question of whoever is sitting in this hot seat in the next part of your meeting.

However, I would just point to something that is, perhaps, a little bit different to what you are specifically asking about but which is built on the same principles: the investment in social enterprises that is in our budget. I point to that in recognition of the fact that, in the economy budget, we are not just supporting traditional business models; we are continuing to invest in social enterprises, too. Indeed, we have a long-standing relationship with Firstport and others and have supported them in finding and investing in social enterprises across Scotland.

All those enterprises have slightly different models, too. There is no specific line in the budget for, say, co-operatives, but I do think that in the budget—and our support for social enterprises, which has been safeguarded—there is an acceptance and a realisation that different business models are a critical part of our economy.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

What is in my budget, rather than in the general universities and colleges budget, is the employability fund, which has protected at £90 million for next year. That funding goes to specialist employability support. For example, last year we launched our specialist employability support for disabled people. It also goes to support the no one left behind scheme, which is about reaching those who are furthest from the workplace.

There is also an approach to support parents back into work. There is an obvious correlation between workless households and child poverty. Yes, I accept that there are children in poverty who are in a home where a parent works, but it is almost guaranteed that where there is worklessness, there is greater poverty, so there is also investment in the parental employability support fund, which is about getting parents into work.

We have some good data on all of that, but, as I have shared with the committee previously, the difficulty that we face is that it costs a lot of money to get someone back into work—it is financially intensive, and it is about working intensively with people. Having that funding guaranteed now for the next few years in the spending review will allow local authorities and the third sector organisations that the money goes through to invest in people for the longer term. We know from the data that we might get somebody into work in one year and the figures look great, but if we come back after a year, will they still be in work? That is what the £90 million goes to. I can go into a little bit more detail if you would like, but that is largely what the £90 million is invested in.

Economy and Fair Work Committee [Draft]

Budget Scrutiny 2026-27

Meeting date: 21 January 2026

Kate Forbes

It is a very relevant comparison, but it is not the only one. That is my point. Obviously, in-year changes are presented in the budget, because they are important. Previously, they were disregarded. My point is that it is relevant to compare where we were this time last year with where we are now.

I do not know whether Kathleen Swift or Colin Cook wants to add anything further.