Bonds Programme business case information: FOI release

Information requested

On 13th November 2025, the “Scottish Government Bonds Programme: Summary Outline Business Case” was published here:

https://www.gov.scot/publications/scottish-government-bonds-programme-summary-outline-businesscase/

Please provide all the spreadsheets (the actual Excel files) which underpin the figures and tables in the above publication. There is no justifiable reason to redact any of the details in the spreadsheets, so please leave all the contents of the spreadsheets intact.

Response

I enclose a copy of some of the information you requested in the format you asked for in Annex A.

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.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 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 202600511157 - Information Released - Annex A

File type

Excel document

File size

43.7 kB