Future bond issuance documentation: FOI Review
Information request and response under the Freedom of Information (Scotland) Act 2002.
Information requested
Original Request 202500466505
"The fully detailed calculations including all relevant spreadsheets, which underpin the finding that “a bond could represent better value-for-money than borrowing through the UK National Loans fund in net-present-value terms. Please also provide all internal correspondence and documentation which discusses the process by which this calculation was done.”
Response
I have now completed my review of our response to your request under the Freedom of Information (Scotland) Act 2002 (FOISA) for ” the fully detailed calculations including all relevant spreadsheets, which underpin the finding that “a bond could represent better value-for-money than borrowing through the UK National Loans fund in net-present-value terms. Please also provide all internal correspondence and documentation which discusses the process by which this calculation was done.”
You subsequently sought a review of the response provided: “on the basis that the cost exemption has been incorrectly applied. This was a very narrow and specific request. It is not credible that it could cost more than £600 to find and disclose the information”
I have concluded that the original request should have been dealt with in two parts:
1. Please provide the fully detailed calculations, including all relevant spreadsheets, which underpin thefinding that “a bond could represent better value-for-money than borrowing through the UK National Loans fund in net-present-value terms”.
2. Please also provide all internal correspondence and documentation which discusses the process by which this calculation was done
I have concluded that the first part of the request for the detailed calculations and spreadsheets underpinning the value-for-money assessment remain within the cost bounds.
As a result of the review I have determined that there is further information for release which is now being provided in two attachments.
Information has been withheld as it relates to policy development and some of the information is deemed to be commercially sensitive. This information has been withheld under sections 29(1)(a) and 33(1)(b) of FOISA respectively.
Taking account of all the circumstances of this case, I have considered if the public interest in disclosing the redacted information outweighs the public interest in applying the exemption. I have found that, on balance, the public interest lies in favour of upholding the exemption.
I have also reviewed the original trawl for information regarding the second part of the request. The required review and redaction of the volume of material would have exceeded the cost threshold.
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.
Contact
Please quote the FOI reference
Central Correspondence Unit
Email: contactus@gov.scot
Phone: 0300 244 4000
The Scottish Government
St Andrew's House
Regent Road
Edinburgh
EH1 3DG