Meeting of the Parliament (Hybrid) 24 March 2021
I welcome the statement, which we have been calling for, and I thank the cabinet secretary for advance sight of it. There has been considerable media speculation about the future of the GFG group, given the financial issues that are affecting Greensill Capital and what that means for the enterprises concerned in Scotland and the rest of the United Kingdom.
It is encouraging to hear from the cabinet secretary that the GFG group believes that the underlying businesses are viable. What assurances can he give us, therefore, about the future of the workforces at Dalzell, Clydebridge and Fort William? The cabinet secretary says that Mr Gupta believes that the businesses are healthy, but has the Scottish Government done anything itself to have that independently verified, rather than just relying on Mr Gupta’s word that that is the case?
Secondly, there are public moneys at stake. The Government has a poor track record of investing public funds—I am thinking of Burntisland Fabrications Ltd, Ferguson Marine Engineering Ltd and Prestwick Airport Ltd. It has been suggested that the total guarantee from the Scottish Government is close to £600 million. Is that figure correct? How does the Scottish Government assess the overall risk to public funds today in the event of a financial collapse of the GFG group?