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January 5 2009
An earlier request for a cash advance has already been rejected out of hand but Finance Secretary John Swinney has pledged to persevere in seeking a £2bn loan from Westminster to be repaid over a 20 year period.
This comes despite chief secretary of the treasury, Yvette Cooper going on record to state that this was not a credible option.
Alternative funding mechanisms such as reallocating existing money, saving up and utilising a private sector partnership are politically unattractive for Scottish ministers.
The UK Government’s decision to speed up capital spending in the wake of the credit crunch had piqued the government’s interest.
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