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Shetland slams Northern Rock "state aid" |
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Monday, 21 January 2008 |
Shetland Islands Council has attacked the UK Government for granting £25bn of "state aid" to Northern Rock, when it is currently facing having to claw back £1m from local fishermen and fish factories under state aid rules.
Convener Sandy Cluness said: "The UK government clearly expects this
£25bn bail-out to be treated differently from Shetland's attempts
to safeguard its fishing industries.
"While the funds to save Northern Rock are directly from the UK
taxpayer, those applied to support Shetland's threatened traditional
industries are solely derived from profits arising from Sullom Voe. Not
to get the UK to lead an appeal on our behalf in light of this clear
difference between the cases is very disappointing."
A European Commission official has said that the Commission will
examine the Northern Rock financing scheme in "great detail" but did
not say whether it would get the go-ahead from Brussels.
No one has commented on this article.
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Last Updated ( Monday, 21 January 2008 )
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