Island Buy-Out

The 93,000 acre South Uist Estate has been purchased by the local community for GBP4.5M ($9.0M). The transaction incorporates virtually all of South Uist, Eriskay and Benbecula. The new owners intend to focus on various initiatives including affordable housing, renewable energy, drainage and coastal management. It is hoped that the buy-out will stabilise the population (currently 3000) which has dropped by 18pct over the past 20 years.

Scotland Subsidises American Bank’s Glasgow Expansion

JP Morgan Chase has been awarded GBP3.0M ($6.0M) as an incentive to generate 200 new software development posts in Glasgow. Funding was provided under the Regional Selective Assistance Scheme through which similar grants have recently been paid to other major financial institutions such as Barclays Bank, HSBC and Morgan Stanley. These grants to very wealthy institutions have attracted criticism in some Scottish political circles.

Visit Glasgow and Scotland’s Islands with catswhiskerstours

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