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Home arrow Holyrood news arrow News by category arrow UK Parliament (HCL12) arrow Shetland slams Northern Rock "state aid"
Shetland slams Northern Rock "state aid" Print E-mail
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.

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Last Updated ( Monday, 21 January 2008 )
 

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