Magazine article Public Finance

Privatisation of Scottish Water Would Free Up £182M, Claims CBI

Magazine article Public Finance

Privatisation of Scottish Water Would Free Up £182M, Claims CBI

Article excerpt

Scottish Water should be privatised to free up £182m of devolved government funds each year, business leaders have said.

In a report published on October 29, CBI Scotland also called for the scrapping of the Scottish Government s plans to introduce a local income tax.

The £20m preparatory and start-up costs should instead be deployed for 'gross domestic product-enhancing investments', it stated.

CBI Scotland chair David Thorburn said: 'The proposals... will require decisive political leadership and bold steps, but that is exactly what is required in these uncertain times for businesses and our economy;

He added: 'The significant remit and budget of the devolved government gives ministers a key role to play in helping firms and the economy through the slowdown and in preparing Scotland to take full advantage of the recovery when it comes. …

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