Coastal fund hits Crown Estates bid

SCOTTISH Governmnent calls for control of Crown Estate assets, including the seabed around Scotland, appear to have been scuppered by a Treasury decision to launch a new fund to help coastal communities.

Lib Dem Chief Treasury Secretary Danny Alexander was today due to unveil the plans to use half the money raised by the Crown Estates from marine sources to support economic development around the coast. The other 50 per cent will continue to go to the Treasury.

Finance Minister John Swinney accused the UK Government of trying to "buy off Scotland's coastal communities by offering them only 50 per cent of their own resources".

He said: "This paltry announcement does not go nearly far enough."

Mr Alexander said the UK Government was "still willing to listen" and "consider" the SNP's demands.