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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 11 January 2026
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Displaying 1853 contributions

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Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

Okay. The Glen Rosa has now been forecast to cost £185 million. That figure is reflected in your own report. Is there any understanding on your part that that will be covered by the Scottish Government? Your report makes a very specific reference in paragraph 75, which says:

“slippage and cost overruns ... represents a poor use of public money.”

That also seems to inhibit the Government’s ability to present proper accountable officer assessments of the costs of the projects.

Looking at the table that you submitted in exhibit 5, in layman’s terms, it seems that the cost over the last six years has just been spiralling out of control with an unending price attached to the project. Is it your understanding that there is simply a blank cheque available to get this job finished?

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

Will the business come with any associated debt, according to your analysis of its accounts? In other words, has the Government loaned the business money meaning that someone would inherit that debt if they took the business over?

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

I want to interrogate a little further because—certainly in politicalspeak—money is tight, times are tough, and so on. That is a message that the wider public will certainly perceive from how any Government manages public spend, and I guess that they will be wondering how on earth money can be tight when there is such a huge underspend in the budget. The question is: could that money have been used, or could it still be used, to avoid cuts or one-off savings in next year’s budget? That is a fair question.

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

As you say, doing nothing is not an option.

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

Okay. I will move on—I am sorry that I took so much time on Ferguson and Glen Rosa, but it is an important area for the committee.

I will move on to the bigger picture around Scotland’s fiscal position and pick up some of what you said in your report and in your opening statement. As you mentioned, the Scottish Government has a requirement, essentially, to break even each year, but you talked a little with the convener about the £1 billion underspend. Is my assertion correct that that was made possible only because of consequentials of around £2.2 billion that arrived in-year from the UK Government? Therefore, is it safe to assume that, if £2.2 billion of consequentials arrived in the Scottish budget in-year and there was an underspend of £1 billion, about £1 billion of the consequentials was spent. Is that correct?

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

What I am asking, I suppose, is that if this business were to be sold as a going concern by the Scottish Government to a private company, what would its value be? If I came along and said, “Right, I want to buy Ferguson Marine off you, what is the value of the business?”, would I be looking at £99 million or is there another figure?

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

We have to assume, therefore, that once those projects are complete and the Glen Rosa has set sail and been handed over to its client, that will come off the balance sheet of the business. Essentially, it will just be a going concern without the CMAL contracts.

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

Good morning. I will carry on where the convener left off with questions about the strategic commercial assets. It will not be a huge surprise that I would like to talk about Ferguson Marine and the Glen Rosa, which features heavily in your report.

First, in exhibit 1 on page 7, you talk about the total financial investment by the Scottish Government into the yard, and its relative value. Can you just talk me through that? You say that £360 million was invested but the current value in the accounts is around £100 million. I suspect many people looking on from the outside into that business will wonder how on earth it could be valued at £100 million.

10:00  

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

Could you explain what you mean by the following comment, which appears in bold on page 16 of your report:

“The Medium-Term Financial Strategy highlights the unsustainable financial position of the Scottish public sector”?

That is a bold and sweeping statement. What do you mean by that?

Public Audit Committee [Draft]

Section 22 Report: “The 2024/25 audit of the Scottish Government Consolidated Accounts”

Meeting date: 17 December 2025

Jamie Greene

That is interesting. In other words, the way out of that hole is to spend less or raise more money. Is that correct?