Government support helps create 2,500 financial jobs

Published on Friday 30 May 2008 22:14

SOME 2,500 jobs are being created in financial services under a government aid scheme for the regions, it was announced yesterday.

The financial services posts are part of a total of 12,000 jobs being created or safeguarded under the Regional Selective Assistance (RSA) scheme, according to the Scottish Government.

Ministers said yesterday that the scheme – which gives grants to firms planning to expand providing new job targets are met – had offered businesses a total of nearly 88 million last year.

The biggest single offer, of 6m, went to US finance giant Morgan Stanley for an expansion of its Glasgow operation which will create 600 jobs.

John Swinney, the cabinet secretary for finance, told a business breakfast in Dundee yesterday: "World-class expertise in banking and insurance and world-class companies located and growing in Scotland can help maintain Scotland's excellent reputation and strong performance in financial services."

Speaking at the last event in Global Financial Services Week, Swinney added: "That's why it's encouraging to see that so many financial services companies in Scotland have accepted Regional Selective Assistance in the last year.

"It demonstrates the industry in Scotland remains well-placed to continue to grow, despite the current global economic uncertainty."