Scottish government calls for Flyglobespan probe
After receiving significant criticism in the financial press for effectively ignoring the issue of Flyglobespan, and the company's collapse this week, the Scottish government has announced an investigation into the fall of business. While there is no evidence of mismanagement or potential legal issues, the authorities are keen to learn from the collapse of what was Scotland's largest airline business.
This comes at a time when the Scottish economy itself is struggling and already lagging behind the UK economy as a whole. Unemployment has risen significantly over the last few months, businesses are struggling and the property sector has been depressed for some time. There has also been a constant battle between the Scottish government and the UK authorities with regard to funding and budget issues, which appears to be doing nobody any favours.
Many people have also highlighted the fact that the Scottish government's ongoing battle for independence appears to be losing support from the public and high-profile collapses such as that seen at Flyglobespan do not help the cause. There is a growing belief that Scotland needs to be part of the Union with concerns that a stand-alone Scotland would not be able to bail out its own economy in the event of any future problems such as those seen over the last few months.
Share this..
Related stories
Shoppers seem to be attracted to value
While we have seen many shoppers attracted to cheaper food produce across the supermarket sector it would appear that this particular trend is being repeated on the high street. Privately owned fashion group Peacocks has confirmed a 15.2% increase in sales in the fourth quarter of 2008 at a time when the vast majority of the UK retail sector were struggling. Peacocks is one of the leading value le...
Read MoreShanks receives bid approach from Carlyle Group
After months of speculation it has been revealed that waste management company, Shanks has received a bid approach from Carlyle Group of £1.35 a share. It is believed that Carlyle has made a number of approaches over the last few months but this is the only one which has been announced to the market with Shanks directors not sure whether the earlier approaches were "serious enough". It would a...
Read MoreRBS face further IT problems after £56m fine
24/11/2014 Royal Bank of Scotland customers have had problems using credit and debit cards in shops and at cash machines over the weekend. Some customers of Royal Bank of Scotland and its subsidiaries, Natwest and Ulster Bank were affected, and were unable to use debit and credit cards. An RBS spokesperson said the breakdown had "minimal customer impact". It said the problems affected "a...
Read MoreBudget Headlines : Companies able to defer tax bills for rest of the year
Companies able to defer tax bills for rest of the year...
Read MoreWill the UK car industry survive the end of the scrappage scheme?
Over the last few months there has been a significant increase in the number of new cars sold in the UK as a direct consequence of the UK government's car scrappage scheme. The ability to scrap cars aged 10 years and over and receive up to £2000 for a new car has caught the attention of many motorists in the UK and led to a large spike in the sale of new cars. However, is this recovery to be shor...
Read More