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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 October 2025
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Displaying 1731 contributions

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Public Audit Committee [Draft]

Cairngorm Funicular Railway

Meeting date: 17 September 2025

Jamie Greene

Let me bring you back to some financial questions. Mr Black, you have stated three times over the course of this morning—it is also in your written submission—that you are keen to stress that Balfour Beatty has absorbed the cost of the remediation work on the funicular. I presume that Balfour Beatty has not sprouted a charitable arm. In what circumstances is it undertaking that work? Presumably, it was paid to do it—that is why you are telling us that.

Public Audit Committee [Draft]

Cairngorm Funicular Railway

Meeting date: 17 September 2025

Jamie Greene

It was paid to do the job, and it is doing the job, but who paid for it? Where did the £18 million come from?

Public Audit Committee [Draft]

Cairngorm Funicular Railway

Meeting date: 17 September 2025

Jamie Greene

You get the crux of my question, though. A huge chunk of public money has been paid to a private contractor to deliver the project and get it up to speed. It is clear that some work is still going on, although you say that it is minor rather than substantive. My point is that, as the Public Audit Committee, we are trying to work out what the overall potential liability to the public purse is.

Public Audit Committee [Draft]

Cairngorm Funicular Railway

Meeting date: 17 September 2025

Jamie Greene

I appreciate that, and thank you for the additional information.

In the light of the convener’s previous question, if the costs of starting afresh, rebuilding or building a new funicular were established, it sounds to me that the cost of doing the remediation was double the cost of putting in a new funicular. Who made the decision to remediate and why?

10:30  

Public Audit Committee [Draft]

“Flooding in communities: Moving towards flood resilience”

Meeting date: 17 September 2025

Jamie Greene

That information was helpful. The bigger concern, though—I am playing devil’s advocate here, because I have sympathy with the Government on this—is that if the original costs of cycle 1 have more than trebled to more than £1 billion, and if, as one might presume, cycle 2 is going to come with a huge price tag, where will the Government find the money to implement the cycle 2 schemes? After all, no Government can magic £2 billion out of nowhere. Where is the money going to come from? We have to invest in those schemes, so the Government will have to find that money from somewhere within its overall capital budget. We are talking about huge sums of money. Having seen eight of the previous 40 schemes being dropped, people will be concerned about the next tranche of schemes actually being delivered. When the worst happens, people will feel let down.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Jamie Greene

Thank you for clarifying. I understand that the bank has not, to date, exercised its right to exit an investment in a profitable manner. Indeed, most exits have been forced on the bank due to losses or the administration of its investments. Are you comfortable that the bank has robust exit strategies?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Jamie Greene

Will it increase the risk to the public purse? If, for example, a publicly owned vehicle that takes money from external sources made an investment that went bust and led to considerable losses, what exposure would the public purse have to that?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Jamie Greene

In the real world, if I had a business unit that was losing millions of pounds, I would not be getting a bonus.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Jamie Greene

Okay, but you have no concerns.

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 10 September 2025

Jamie Greene

Good morning. I have a few areas to cover, so I will get cracking. Mr Irwin, can you describe, for the committee’s benefit, where you fit into the equation, in terms of lines of accountability or the oversight of SNIB?