Scottish Government must review GFG Alliance deals amid Serious Fraud Office probe


Scottish Liberal Democrat leader Willie Rennie had today submitted a series of parliamentary questions over the Scottish Government’s agreements with the GFG Alliance, the Greensill-backed firm reportedly under investigation by the Serious Fraud Office.

Following the launch of the probe, Willie Rennie has asked the Scottish Government whether it will immediately launch a review of its agreement, documents and contacts with the GFG Alliance to provide reassurance or establish whether there are any grounds for concern.

The Scottish Government has provided guarantees worth up to £575m to the firm.

New reports show the Scottish Government refusing to say whether payments scheduled to be made by the GFG Alliance in March were made.

Mr Rennie said: 

“The guarantees provided to GFG Alliance represent one of the biggest deals ever signed off by the Scottish Government.

“With the operation of the GFG Alliance now reportedly under investigation by the Serious Fraud Office, the Scottish Government must take steps of its own. Ministers should immediately launch a review of its own agreements, documentation and contacts with the firm.

"This could provide the reassurance that is necessary or identify whether there is any cause for concern. It should also reassess what due diligence was conducted around this agreement.

“What’s more the Government must immediately tell Parliament whether scheduled payments from the GFG Alliance, due in March, were made.

"These are serious questions and the Scottish Government must be upfront with Parliament and taxpayers who are exposed to the tune of hundreds of millions. Many small businesses have had to work hard to secure support. They will expect big agreements with big price tags attached to be the subject of very close scrutiny."

ENDS


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