Scottish National Investment Bank: Ministerial Advisory Group minutes - February 2026

Attendees and apologies

• John Glen (co-chair)
• Nathan Elstub
• Emma Congreve
• Sir John Elvidge
• Alisdair McIntosh

Supporting officials

• Andy Hogg
• Pat Crolla
• Connie Penman

Apologies

• Richard Rollison (co-chair)
• Roz Foyer
• Irene Graham

Items and actions

Welcome and opening remarks

Members were welcomed to the fifth meeting of the Ministerial Advisory Group (MAG) for the Scottish National Investment Bank, with the previous meeting taking place in October 2025.

Discussion with Sir John Elvidge: Five-Year Review

Sir John Elvidge and Alisdair McIntosh were introduced as Lead Reviewer and Strategic Advisor to the Five-Year Review. Following roundtable introductions, Sir John Elvidge set out his intent for the review and initial progress. Attendees discussed the different audiences for the Review, Audit Scotland’s 2025 report on the Bank, the governance arrangements between government and the Bank, the Bank’s approach to Missions and Impact. 

Action 5.1: MAG members to provide further input to the review. Action for: Secretariat and members. Action by: 31 March 2026.

Group business

Members further discussed the role of the MAG and its ongoing interaction with the Review process. Attendees agreed to synthesise emerging questions and preliminary views with a view to this being used to inform ongoing ministerial advice from the Group.

Action 5.2: Capture outstanding questions and preliminary views. Action for: Secretariat and members. Action by: 31 March 2026.

Action 5.3 Draft advice for incoming portfolio minister. Action for: Secretariat. Action by: August 2026.

Updates since last meeting of note

• Appointment of Sir John Elvidge as reviewer.
• Publication of the UK 2025 budget.
• Appointment of David Ritchie as Bank CEO.
• Publication of 2026/27 Scottish Budget and 2026 Spending Review.
• Announcement of More Homes Scotland, a new housing agency working closely with the Bank.

Minutes and actions

Action 3.3 (Organise engagement with DFM to present interim observations), 4.5 (Secretariat to explore options for future thematic learning sessions post-election and five-year review) and 4.8 (Group skills / gap analysis to be planned or post-election and five year review) remain outstanding.  All other actions were noted as complete.

Election guidance

Attendees discussed Scottish Government guidance ahead of the 2026 Scottish Parliamentary Elections. It was noted the 'election period' means the period of six weeks prior to polling day on 7 May, with guidance taking effect on 26 March 2026. The process was briefing income Ministers was also explained, noting the work of the group to date would be included in that detail.

Forward planning

Upcoming plans for the group were summarised as follows:

• Secure a meeting date / time with DFM
• Further engage with Sir John Elvidge on the five-year review
• Stocktake of questions and preliminary MAG views to support Ministerial advice.

Any other business

All attendees wished Emma well for her maternity leave and noted that we will consider overall MAG membership, post-election.

Meeting close