Easdale Brothers Slam 'financially Illiterate Policies'
Inverclyde's billionaire businessmen brothers have warned there is ‘no chance’ of the West of Scotland attracting inward investment as long as politicians pursue ‘financially illiterate policies’.
Sandy and James Easdale’s comments follow a pledge from the recently appointed First Minister John Swinney to ‘dedicate every fibre’ to delivering economic growth for Scotland.
Sandy Easdale said: "Mr Swinney said UK government policies were preventing the country from realising its full potential.
"We feel he needs to look closer to home. Try Glasgow for a start.
“We spoke to one of Europe’s leading place branding consultants who delivered a real wake-up call for Scotland and Glasgow in particular.”
The brothers outlined two projects to consultants: SPT and Glasgow City Council’s £400 million bus franchising plans and the Clyde Metro proposals for a £15 billion investment over 30 years.
When advising and encouraging inward investment to a city or country, the consultants said they examined key aspects such as political stability, high taxes, and competence of local government.
James Easdale said: “They were not surprised about the £400m a year estimate for the bus franchising and queried where the local councils would find the money, but they were dumbfounded at the financial illiteracy of the Metro plans.
“That is serious money and the consultant said that is where their analysis of political stability kicks in.
“What financial investors are going to commit to £15bn which would probably end up as double that bearing in mind Scotland’s track record?
“Also, when they sit in their European offices and hear John Swinney saying that Scotland will be independent in five years, that raises so many red flags.”
Sandy Easdale added: “Glaswegians and folks in the neighbouring areas must wonder where all the money is coming from for these vanity projects.
“They need after-hours doctors and access to emergency hospital treatment, never mind getting the potholes fixed and the rat infestations cleared out.”
Both brothers said Glasgow, and the rest of Scotland, requires ‘financially realistic’ policies to be adopted before moving forward.
They also called for taxation to be ‘normalised with the rest of the UK’, and for Mr Swinney to ‘park the independence debate for a generation’.
They added: “Otherwise, the global investment community will continue to regard Scotland, and in particular the west, as a basket case.”
This article appeared in The Greenock Telegraph
Share: