Just over £1 million has been pledged by the four largest private sector firms in Edinburgh – the City of Edinburgh Council, however, need to raise £25 million through private sector contributions. Of the £1.1 million pledged only £350,000 has so far reached the Council – and all of this comes from the Royal Bank of Scotland.
The remaining £760,000 pledged comes from Scottish Widows with the other two large firms in the capital – Bank of Scotland and Standard Life – not pledging any monetary support for the scheme.
Cllr Gordon Mackenzie, city transport convener, said: “You can't require people to pay, other than through planning contributions. Obviously we would welcome contributions from any business, but I understand finances are difficult in the private sector at the moment, as they are in the public sector. That's why we have a 20-year-plus plan for developers' contributions along the tramline."
Shirley-Anne Sommerville, SNP MSP for Lothians – and known anti-tramite, said: “I am concerned at the lack of developers' contributions that have come in so far. I have always been worried about how over-optimistic the council were in the amount of money they would receive. I think it's a question the council's new finance convener, who was previously in charge of the trams, will have to give clear and definitive answers on."
Source: The Scotsman