Chamber and committees

Under agenda item 3, we are considering two instruments, on which no points have been raised.

Under agenda item 4, we are considering two instruments, on which no points have been raised.

Is the committee content with the document?

Members indicated agreement.

Before we move into private session, I would like to take a moment to place on record the committee’s thanks to Andy Proudfoot, who will be leaving the Scottish Parliament at the end of this week having supported the work of the Delegated Powers and Law Reform Committee over the past four years. Andy’s enthusiastic and dedicated approach to his work has won him the respect and appreciation of all those with whom he has worked during his time in the Scottish Parliament. Andy, on behalf of the members of the Delegated Powers and Law Reform Committee in this session and the previous one, I thank you for your excellent hard work and wish you all the very best for the future. [Applause.]

I move to questions for Mirka Skrzypczak. From a lenders’ perspective, how does the current law in Scotland impact on your lending options?

I mean more in Scotland than there are currently. We have been told that some transactions have taken place under English law because it has been easier to deal with.

As a result of the bill and the proposals, do you foresee business transactions taking place in Scotland that would have—as we have heard in evidence—taken place under English law, as some transactions have?

Welcome to the 26th meeting in 2022 of the Delegated Powers and Law Reform Committee. I remind everyone present to switch mobile phones to silent. We have received apologies from Oliver Mundell.

The first item of business is to make a decision on whether to take items 7, 8 and 9 in private. Is the committee content to do so?

Members indicated agreement.

Under agenda item 2, we will continue to take evidence on the Moveable Transactions (Scotland) Bill from two panels. The first panel is online. I welcome Colin Borland, who is director for the devolved nations at the Federation of Small Businesses, and Mirka Skrzypczak, who is the head of working capital and trade products at NatWest. I remind both attendees not to worry about making us aware of when you want to speak, because we will bring you in automatically.

I will start with a question for the FSB. Something that has come up in evidence so far is cash flow, which can certainly be an issue for all businesses, and especially for small businesses. Can you provide a bit more background information on that, Mr Borland? I think that it is fair to say that, since 2008, the financial and trading conditions for the small business sector in particular have been extremely difficult in Scotland and across the United Kingdom. We are also currently in a situation that is clearly financially challenging.

Are you aware of any advantages for larger businesses in Scotland that will result from the reforms to invoice financing that are proposed in the bill? You have touched on a couple of points already.