Future bond issuance materials: FOI release

Information requested

You asked for “all relevant spreadsheets associated with the material already released” by us in response to your request that we review your previous FOI request (our reference 202500466505). Our reference for the review of that FOI is 202500471147. The review case split your initial request into two parts, the first part being: Please provide 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”.

Response

I enclose a copy of some of the information you requested.

While our aim is to provide information whenever possible, in this instance we are unable to provide some of the information you have requested because exemptions under sections s.38(1)(b) (Personal data relating to third party), s.25(1) (Information otherwise accessible), s.29(1)(a) (Formulation or development of Scottish Government policy), s.33(1)(b) (Commercial interests), and s.33(2)(b) (Financial interests of a UK administration) of FOISA apply to that information. The reasons why these exemptions apply are explained below.

Section 38(1)(b) – Personal data relating to third party

An exemption under section 38(1)(b) of FOISA (personal information) applies to some of the information requested because it is personal data of a third party, and disclosing it would contravene the data protection principles in Article 5(1) of the General Data Protection Regulation and in section 34(1) of the Data Protection Act 2018. This exemption is not subject to the ‘public interest test’, so we are not required to consider if the public interest in disclosing the information outweighs the public interest in applying the exemption.

Section 25(1) – Information otherwise accessible

Some of the information you have requested is available from https://www.gov.uk/government/statistics/gdp-deflators-at-market-prices-and-money-gdp-march-2024-quarterly-national-accounts and https://www.gov.uk/government/statistics/gdp-deflators-at-market-pricesand-money-gdp-october-2024-autumn-budget-2024. Under section 25(1) of FOISA, we do not have to give you information which is already reasonably accessible to you. If, however, you do not have internet access to obtain this information from the website(s) listed, then please contact me again and I will send you a paper copy.

Section 29(1)(a) – Formulation or development of government policy

An exemption under section 29(1)(a) of FOISA (formulation or development of government policy) applies to some of the information requested because it relates to the development of Scottish Government policy. This exemption is subject to the ‘public interest test’. Therefore, taking account of all the circumstances of this case, we have considered if the public interest in disclosing the information outweighs the public interest in applying the exemption. We have found that, on balance, the public interest lies in favour of upholding the exemption. We recognise that there is a public interest in disclosing information as part of open, transparent and accountable government, and to inform public debate. However, there is a greater public interest in high quality policy and decision-making, and in the properly considered implementation and development of policies and decisions.

Section 33(1)(b) – Commercial interests

An exemption under section 33(1)(b) of FOISA (commercial interests) applies to some of the information requested. This exemption applies because disclosure of this particular information would, or would be likely to, prejudice substantially the commercial sensitivities of the Scottish Government. This exemption is subject to the ‘public interest test’. Therefore, taking account of all the circumstances of this case, we have considered if the public interest in disclosing the information outweighs the public interest in applying the exemption. We have found that, on balance, the public interest lies in favour of upholding the exemption. We recognise that there is a public interest in disclosing information as part of open and transparent government, and to help account for the expenditure of public money. However, there is a greater public interest in protecting the commercial interests of the Scottish Government to ensure that we are always able to obtain the best value for public money.

Section 33(2)(b) - Financial interests of a UK administration

An exemption under section 33(2)(b) of FOISA (financial interests) applies to some of the information requested. This exemption applies because disclosure of this particular information would, or would be likely to, prejudice substantially the financial interests of the Scottish Government. This exemption is subject to the ‘public interest test’. Therefore, taking account of all the circumstances of this case, we have considered if the public interest in disclosing the information outweighs the public interest in applying the exemption. We have found that, on balance, the public interest lies in favour of upholding the exemption. We recognise that there is a public interest in disclosing information as part of open and transparent government, and to help account for the expenditure of public money. However, there is a greater public interest in protecting the financial interests of the Scottish Government, to ensure that we are always able to obtain the best value for public money.

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.

FOI 202500480670 - Information released - Annex

File type

Excel document

File size

32.4 kB