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Mr Mackay says the Prepare for Brexit campaign has cost £1.1m to date, with promoting Scotland internationally tallying at £1.4m.

Mr Lockhart says out of £95 Barnett consequentials for preparing for Brexit from the UK government, the Scottish government has spent roughly £2m on helping businesses prepare.

The finance secretary says Mr Lockhart specifically asked about Barnett consequentials that had gone to the enterprise agencies and the totality of support to the business community will be greater than that.

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The possibility of a no-deal Brexit remains very much alive. Prime Minister Boris Johnson is committed to leaving the EU on 31 October, despite MPs passing a law that could extend the Brexit deadline into the new year.

In a no-deal scenario, the UK would immediately leave the European Union (EU) with no agreement about the "divorce" process.

Overnight, the UK would leave the single market and customs union - arrangements designed to help trade between EU members by eliminating checks and tariffs (taxes on imports).

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Do you think the prime minister seriously trying to get a deal with the EU, asks SNP MSP Willie Coffey.

I don't believe there is a serious effort, replies Mr Mackay.

He says Boris Johnson is pursuing Brexit all costs and the economy will be the collateral damage.

SNP MSP Richard Lyle asks about possible impacts on food and medical supplies.

Mr Mackay says that even though tariffs are reserved, the issues will manifest themselves within devolved areas, like medical supplies and transport.

We are reliant on the UK government having plans to deliver and re-route supplies, he adds.

Gary Gillespie from the Scottish government says with no-deal there will be a disorderly exit and a fall in confidence, with an immediate impact.

Committee convener Gordon Lindhurst says some people may find the WTO rules advantageous and others not and he asks what the Scottish government is doing in preparation.

Mr Mackay again cites the Scottish government's Brexit website and helpline, external.

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Is there any indication the UK government is listening to the concerns of businesses and professionals, asks SNP MSP Colin Beattie.

If they were listening to business they would not deliver no-deal Brexit, replies the cabinet secretary.

Mr Mackay says it appears the UK government is not listening about the demands and pressures they will face after Brexit.

There is no way that the Scottish government can fully mitigate the impact of a no-deal Brexit on Scottish people and its economy, he explains.

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Before Parliament was suspended MPs passed a new law - introduced by Labour's Hilary Benn - designed to stop Boris Johnson pushing through a no-deal Brexit on 31 October.

Under the law, MPs Mr Johnson is required to request a three-month Brexit delay by 19 October.

But - as with everything in politics at the moment - it's not as simple as that.

There are two scenarios in which Mr Johnson would not have to request an extension:

1. MPs approve a Brexit deal in another meaningful vote
2. MPs vote in favour of leaving the EU without a deal

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The next panel comprises:

• Finance and Economy Secretary Derek Mackay
• Kevin Quinlan, director for international trade and investment in the Scottish government
• Gary Gillespie, the government's chief economist

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Labour MSP Jackie Baillie moves to questioning about the Scottish-European Growth Co-Investment Programme, citing "very disappointing numbers" about the uptake of the £200m available.

The Scottish-European Growth Co-investment Programme offers Scottish government and European money to "businesses in all areas of Scotland looking for equity investment to meet their growth ambitions".

Mr Mackay says of the £500m Scottish Growth Scheme, 233 companies have availed themselves of it to the tune of £149.5m of investment, insisting demand has been hit by the uncertainty of Brexit.

Image source, AFP

Ms Baillie asks for the figure for the Scottish European Growth Co-Investment Programme, not for the Scottish Growth Scheme.

The minister replies six businesses have received £17m.

Is this the wrong product given it was supposed to help companies deal with the uncertainty of Brexit, asks Ms Baillie.

He accepts there has not been as much leverage as the government would have hoped for from this scheme.

Image source, OECD

What is inclusive growth? Check out the OECD website, external for more on this.

Tory MSP Dean Lockhart says despite 'inclusive growth' being the overall aim of the Scottish government, there is no definition of what this means.

He says this means economic policy is more ad-hoc rather than part of a coherent economy approach.

Mr Mackay says of course policies are ad-hoc, because you cannot know where difficulties will come up and when companies will require support.

I think the definition is clear about inclusive growth, he insists.

He goes on the explain it is about increasing prosperity with greater equity, creating opportunities for all and sharing those dividends fairly.

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The Scottish government has had to write down nearly £140m in loans and guarantees, most of them to private companies, that have become worthless.

The figures have been revealed inofficial accounts for the past year., external

They include a £45m loan to the Ferguson shipyard on the Clyde and a £21m guarantee repayment fee from Liberty Steel.

The Scottish government said its "support for private companies has protected hundreds of jobs".

The auditor general's 2018/19 report, external on the government's consolidated accounts show that the overall budget of £36,915m was underspent by £778m.

• Taxpayer owed £50m after Ferguson shipyard collapse
• £13m written off the value of public stake in BiFab
• Publicly-owned Prestwick Airport put up for sale
• Liberty 'committed' to Lochaber alloy wheels factory project
• Read more here

Tory MSP Dean Lockhart points out the Audit Scotland report that says £135m was lost last year alone in failed interventions and investments into companies.

Mr Mackay replies he is not quite sure the workers at Fergusons, Prestwick or BiFab will like to hear their companies described as failed companies.

The finance secretary explains it it not a write off, it's a write down and he warns the Tories to "know what your are criticising when you criticise".

A write-down is performed in accounting to reduce the value of an asset to offset a loss or expense.

A write-down becomes a write-off if the entire balance of the asset is eliminated and removed from the books altogether.

He insists that without the government interventions there would have been job losses.

"I think it was the right thing to do for the government to intervene."

Mr Mackay says he wants to ensure there is alignment and cohesion to make it as easy as possible for companies to get a range of support.

"Yes we can deliver a tailored package to a company," insists the finance secretary.

What impact does RSA have on productivity, asks SNP MSP Gordon Macdonald.

Mr Mackay says RSA does not necessarily enhance productivity in itself as it is primarily used to safeguard jobs and delivery new jobs.

Labour MSP Jackie Baillie says a previous cabinet secretary set a target to improve productivity but in fact it fell, and she adds that this was before Brexit.

"Right now productivity gains are being lost because of Brexit uncertainty," replies Mr Mackay.

He points to the financial crash and the oil and gas downturn having an impact in the past, but says since then Scotland has been outperforming the rest of the UK.

Philip Sim
BBC Scotland political reporter

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With an election looming, political parties have been setting out a range of competing spending plans. But given many of them fall in devolved areas, how do these pledges affect Scotland?

A polling date might not have been set yet, but be in no doubt that the UK is in the depths of an election campaign. To this end, politicians have been unveiling a range of new policies. Expensive new policies.

What is often obscured is the fact that many of these plans cut across areas like health and education, and as a result won't directly apply in Scotland.

Instead, if these promises are ever acted upon the Scottish government will get an extra chunk of funding in its budget. But how is this worked out, and when does it apply?

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