The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 847 contributions
Economy and Fair Work Committee [Draft]
Meeting date: 1 October 2025
Gordon MacDonald
My final question follows on from an earlier question from Stephen Kerr, who painted a pretty black picture of Scotland’s productivity figures. Am I right to say that, of the 12 UK regions, Scotland is in the top three for productivity levels, that Scotland’s average growth over the past decade has been more than double that of the UK and that Edinburgh’s productivity levels are nearly 25 per cent higher than the UK average?
Economy and Fair Work Committee [Draft]
Meeting date: 1 October 2025
Gordon MacDonald
You have just indicated AI’s importance. However, in order to harness its benefits, we need data centres to be based in Scotland. We have a cooler climate and an abundance of electricity. Recently, we had the announcement about DataVita and CoreWeave, but how do we use that to encourage other companies to put down roots and locate data centres in Scotland?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
How does that benefit the organisation?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
How do you decide which projects you are investing in? I note that 70 per cent of all trees planted in the UK are being planted in Scotland. How do you decide what your risk appetite is?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
My last point is about leverage. You referred to the £800 million that you have invested to date, and you got about £1.4 billion back from private capital—that is a leverage ratio between 1.6 and 1.8. How does that compare with other organisations in a similar space?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
Is that because you are a new bank and there is risk? I asked a question earlier about your risk assessments.
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
Absolutely.
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
I have a question about your risk appetite. First, I welcome your investment of £34 million into Lost Shore, Scotland’s only surf resort, which is in my constituency. It is a fantastic facility. We heard from Murdo Fraser about Gresham House, which I think that you are putting £50 million into.
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
Good morning. Some of the questions that I was going to ask have already been covered, but I have a few follow-up points. On the ambition for you to be a perpetual investment fund, you said that you want to try to achieve some progress in the next 12 months. Is there any requirement for rule changes—either in the bank’s constitution or the governance rules—for that to happen?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Gordon MacDonald
On the Scottish Government’s reserve, I believe that the Government gave you a bit of flexibility, with £25 million.