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 896 contributions
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Murdo Fraser
Thanks for putting that in context.
On the specifics, there is the satellite and digital connectivity firm Krucial, which has a provisioned £4.6 million loss; the £34 million investment in M Squared Lasers, much of which might be lost; and we previously had the loss in relation to Circularity Scotland. What lessons have been learned? Is there anything that you can do better in future to avoid losses?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Murdo Fraser
Okay. Thank you.
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Murdo Fraser
I am sure that the community council can follow the matter up with you.
I have one more question, on a separate topic. Parliament is sitting late this week—as we know, because we are all weary this morning—to deal with the Housing (Scotland) Bill. You said that you had investor interest in housing. Is that in the build-to-rent sector, or in other sectors?
Economy and Fair Work Committee [Draft]
Meeting date: 24 September 2025
Murdo Fraser
I wonder whether I may interrupt you for a second, because what you have said is quite interesting. Do you think that, when the bank was set up and given a chunk of taxpayers’ money to invest, there was political pressure on the bank to get that money out the door—in other words, to invest in and to be seen to be engaging with the Scottish economy—and that, perhaps with hindsight, some of those investments might have needed more careful consideration?
Economy and Fair Work Committee [Draft]
Meeting date: 17 September 2025
Murdo Fraser
I have one more question on this. What is the definition of munitions?
Economy and Fair Work Committee [Draft]
Meeting date: 17 September 2025
Murdo Fraser
Thank you for that.
I have one more question on something else that I noticed in your accounts. This is a quote from your accounts, which say that there is
“significant uncertainty and complexity of the laws/legal environment within which SE operates.”
Can you elaborate on that for a layman? What does that mean?
Economy and Fair Work Committee [Draft]
Meeting date: 17 September 2025
Murdo Fraser
Good morning. I have one set of questions for HIE. There is nobody on the committee who represents the Highlands and Islands, so, as I think that I am the closest thing to a Highlander here, I wanted to ask you a little bit about some of the broader issues you touched on earlier.
Clearly this is a time of great economic opportunity for the Highlands. We see the development of a freeport to Cromarty, renewable energy projects and a growth in tourism. That is all good news, but that development comes with challenges, particularly around infrastructure. There will be a need for more housing and for investment in transport infrastructure. I was talking to SSE recently about the proposed pump storage scheme at Coire Glas in the west Highlands. That will lead to an enormous amount of materials being transported in and out, which will put huge pressure on roads such as the A9 and the A82.
I am interested to get Highlands and Islands Enterprise’s perspective on issues such as upgrading the A9—an issue dear to my heart—and, more broadly, what other infrastructure improvements we need if we are going to capitalise on that economic opportunity.
Economy and Fair Work Committee [Draft]
Meeting date: 17 September 2025
Murdo Fraser
Let me rephrase that question. When the Scottish Government says that it is not going to fund munitions, are you clear what that means?
Economy and Fair Work Committee [Draft]
Meeting date: 17 September 2025
Murdo Fraser
That is a very diplomatic answer, thank you.
I want to ask about your accounts. I was having a look at your most recent accounts for the period to March 2025, which were published in June, I think. In that period, you wrote off balances to a total of just over £31 million. It was reported in June that another enterprise in which you had made investments valued at £20.2 million had notified you that there is a risk that that might be written off. I absolutely understand that when you make investments there is always a risk that some of them might not be successful, but that strikes me as quite a high percentage compared to your overall level of investments. Do you think that that is a reasonable sum to be writing off in the context of the total investments that you make?
Economy and Fair Work Committee [Draft]
Meeting date: 17 September 2025
Murdo Fraser
On the housing issue, I have been talking to SSE, and I believe that it is investing in housing because it realises that there is no point in it creating vacancies if there is nowhere for potential employees to live. I appreciate that a lot of house building goes on in the inner Moray Firth area, but what more can be done to encourage house building in the west Highlands, where a lot of that investment will be going?