NEWS RELEASE
FOR IMMEDIATE RELEASE FRIDAY 13 DECEMBER 2002
"FREEZE GLASGOW HOUSING STOCK TRANSFER" SAYS STUC AS COST SOARS BEYOND 2 BILLION POUNDS
Following the news that the Scottish Executive is to provide another £100 million to the Royal Bank of Scotland and the Bank of Scotland for Glasgow's housing stock transfer, STUC General Secretary, Bill Speirs, said:
"In the run up to the ballot on the privatisation of Glasgow's Council housing, the STUC said that the project was a shambolic mess which would line the pockets of bankers and destroy Council housing in Glasgow.
"Unfortunately, we have been proved right.
"Yesterday the Scottish Executive slipped out an announcement that another £100 million of tax-payers money is to be given to the banks, taking the total cost of this shambolic mess to over £2 billion. Yes, that is £2 billion.
"The whole catastrophe should immediately be put on hold, and an independent inquiry instituted by the Scottish Parliament into how this has happened and how we can genuinely improve social housing in Glasgow and throughout Scotland without stuffing the pockets of bankers with tax-payers money."
For further information, contact: Bill Speirs