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LANG ALLAYS CONCERNS ON FUNDING

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Scottish secretary Ian Lang has written to Grampian RC to allay its concerns over threats to capital projects cause...
Scottish secretary Ian Lang has written to Grampian RC to allay its concerns over threats to capital projects caused by changes to sale and leaseback rules.

Chief executive Alan Campbell wrote to Mr Lang with a list of projects he said could not proceed because of the changes announced in December 1994, due to be introduced in March.

In reply, Mr Lang said he believed the rules were 'sufficiently flexible to allow most projects which were at an advanced stage of planning when the announcement was made, and which involve the generation of notional receipts through leasing to third parties, to proceed'.
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