Shared goals will beat slump, says Buchanan

THE Capital's economic development leader has insisted that the public and private sectors have to work together to help overcome the downturn.

Councillor Tom Buchanan insists that joint working can help unlock development opportunities.

Writing in the new City of Edinburgh business guide, he said: "The word 'leverage' will play an important role in bringing private and public funding together to unlock development opportunities. This is why we are delighted to be the first Scottish local authority to make use of tax increment financing (TIF), where funding for infrastructure central to new developments is raised against the projected income from future business rates.

"Part of the Waterfront regeneration plans will be delivered in this way. This is expected to accelerate the number of projects coming forward."

The council's 84 million TIF scheme won Scottish Government backing earlier this year.