Millionaire entrepreneurial brothers slam 'financially illiterate' Glasgow transport policies

“Glaswegians and folks in the neighbouring areas must wonder where all the money is coming from for these vanity projects” – Sandy Easdale

Politicians and officials in the west of Scotland have been slammed for pursuing “financially illiterate” policies in a bid to attract inward investment.

Millionaire brothers and entrepreneurs Sandy and James Easdale, who have a wide range of business interests spanning transport, manufacturing, commercial property and land investment, cited two major projects in the pipeline which they had outlined to one of Europe’s top place branding consultancies - Strathclyde Partnership for Transport’s plan to bring in local bus franchising, which the Easdales argue could cost the taxpayer £400 million per year, and the ambitious Clyde Metro project.

Pointing out the areas that any consultants would examine when advising on inward investment of that nature, such as political stability, competency of local government, and roads and street lighting, James Easdale said: “The consultants had all the stats on Glasgow and the region. They were not surprised about the £400m-a-year estimate for the bus franchising and queried where the local councils would find the money, but they were dumbfounded at the financial illiteracy of the Metro plans.

Brothers James and Sandy Easdale, whose business interests span transport, manufacturing, commercial property and land investment.

“That is serious money and the consultant said that is where their analysis of political stability kicks in. What financial investors are going to commit to £15 billion which would probably end up as double that bearing in mind Scotland’s track record? Also, when they sit in their European offices and hear John Swinney saying that Scotland will be independent in five years, that raises so many red flags.”

Sandy Easdale added: “Glaswegians and folks in the neighbouring areas must wonder where all the money is coming from for these vanity projects. They need after-hours doctors and access to emergency hospital treatment, never mind getting the potholes fixed and the rat infestations cleared out.

“No doubt we will be told that reports such as the one EY produced show that Scotland’s approach to attracting inward investment approach is paying off in a significant way. Key figures for the 2021/2022 financial year showed that 7,780 jobs were created or protected through inward investment. However, here’s the kick in the teeth - 98 per cent of these jobs pay the real living wage of £19,305. I am not dismissing these jobs but come on, that’s no way to build a world-class economy.”

The brothers, who owns bus operator McGill’s Group, added: “Glasgow and the rest of Scotland cannot truly move ahead until financially realistic policies are adopted, taxation is normalised with the rest of the UK and John Swinney parks the independence debate for a generation. Otherwise, the global investment community will continue to regard Scotland, and in particular the west, as a basket case.”

Strathclyde Partnership for Transport’s plans are hoped to solve short-term and long-term transport issues. It argues that local bus franchising could offer the “greatest certainty for the best outcomes” for passengers. It has been estimated that taking the franchising process to the point of implementation could cost some £15m and take five to seven years.