Capital borrowing and bonds programme costs: FOI release

Information requested

Is the Scottish Government still committed to issuing its first ever bond and could you supply all work which has been done on this so far?

How much money has been spent on the bonds plan announced by Humza Yousaf at SNP conference 2023 and a breakdown of these costs?

Response

The Scottish Government is continuing with its due diligence work towards a future Bond issuance in line with the strategic objectives published in December 2023. Scottish Government capital borrowing and bonds: memorandum - https://www.gov.scot/publications/memorandum-scottish-governmentcapital-borrowing-bonds/ A further update will be provided at the forthcoming Scottish Budget (2025-26) in early December.

While our aim is to provide information whenever possible, in this instance the costs of locating, retrieving and providing the information requested would exceed the upper cost limit of £600. The scope of the request would need a manual search and review of all emails and documents produced over the past twelve months to be undertaken to collate the required information. Under section 12 of FOISA public authorities are not required to comply with a request for information if the authority estimates that the cost of complying would exceed the upper cost limit, which is currently set at £600 by Regulations made under section 12. You may, however, wish to consider reducing the scope of your request in order that the costs can be brought below £600. In the absence of breaching the upper cost limit, an exemption under section 29(1)(a) of FOISA (formulation or development of government policy) is likely to apply to much of the information requested because it relates to the formulation and development of the Scottish Government’s policy. You may also find it helpful to look at the Scottish Information Commissioner's 'Tips for requesting information under FOI and the EIRs' on his website at:  http://www.itspublicknowledge.info/YourRights/Tipsforrequesters.aspx.

External costs incurred to date on this programme of work total £20,000 plus VAT.

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at https://www.gov.scot/foi-responses.