Monday, 17 August 2009

UK Underwrites Glasgow - Edinburgh Rail Upgrade

The headline in the Herald says "Edinburgh to Glasgow in 35 Minutes". The story, which is good news in itself, tells how Minister at Holyrood are "relieved" that the money has been found to finance an improvement to the railway line between Glasgow and Edinburgh, and that the key financial element is that the money can be borrowed against the security of the value of UK Rail Network (my italics and emphasis).

So. It's the value of the UK network that allows a vital upgrade to go ahead in Scotland. Is this a benefit of the union or what?

Also, just a passing thought: why is this top-notch-high-grade-really-really-vital infrastructure development not being financed using the wonderful-marvelous-better-than-anything Scottish Futures Trust? Could it be because the SFT is a duck which can now be clearly declared as a dead and buried duck? Isn't it time to give the SFT a solemn sending off, along with the LIT, the abolition of Student debt, the 18 class sizes, the brick-for-brick school building programme and all the other fantastical elements that padded out the SNP's 2007 election "manifesto"?

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