Now time to fo­cus on the Deal de­tail

The Courier & Advertiser (Angus and The Mearns Edition) - - COMMENT -

The orig­i­nal Tay Cities Deal bid was a hefty, near 100page doc­u­ment that sought to trans­form Tay­side’s econ­omy.

By com­par­i­son, the heads of terms agree­ment signed yes­ter­day is, at just 22 pages long, far more light­weight; re­flect­ing how am­bi­tions have been damp­ened since the bid was orig­i­nally sub­mit­ted.

In­stead of the com­bined £826 mil­lion orig­i­nally asked for, the Scot­tish and UK gov­ern­ments will only con­trib­ute £200 mil­lion and £150 mil­lion re­spec­tively.

And de­spite the years of work that have taken place to reach this stage in the bid process, much of the agree­ment ap­pears hastily writ­ten.

A promised £50 mil­lion from the Scot­tish Gov­ern­ment is en­tirely un­ac­counted for thus far while £27 mil­lion is ear­marked for tourism ini­tia­tives – if they are deemed vi­able.

But if the Tay Cities Deal is not what was orig­i­nally hoped for, the glass should still be con­sid­ered half-full.

Any in­vest­ment in the Tay­side econ­omy is wel­come. But the sign­ing of the agree­ment is merely, to bor­row a phrase, the end of the be­gin­ning. The hard work starts now and there is no time for any dawdling.

Ef­forts must now be dou­bled to en­sure projects in­cluded in the agree­ment are ro­bust enough to get the fi­nan­cial as­sis­tance on of­fer and so pro­vide the foun­da­tion for re­vi­tal­is­ing Tay­side’s econ­omy.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.