Concerns raised about Lothian Buses' money

Money is needed for the trams in Edinburgh

The money would be used to extend the capital's tram network.

Council Leader raised concerns

At a full council meeting on Tuesday, councillors heard Council Leader Catherine Johnstone had written a joint letter with her East and West Lothian counterparts to Edinburgh City Council raising concerns about the potential impact the move could have on local bus services.

Midlothian Council has a 5% stake in Lothian Buses

While Edinburgh City Council, which has requested the extraordinary £20 million dividend be considered, is the majority shareholder in Lothian Buses, Midlothian Council has a 5% stake in the business. East Lothian and West Lothian authorities also have small shares in the firm.

The Leader of Edinburgh City Council shares the concerns

In response to the letter an email was received from Andrew Burns, the Leader of City of Edinburgh Council dated 27 July. It confirmed City of Edinburgh Council shares the concerns expressed by the other Lothian authorities. The email added: “If the City of Edinburgh Council thought that this Lothian Buses request would undermine “growth potential by placing demands to provide dividends over and above those which the business can sustain .... then we most certainly would not have made the request in the first place.”

The City of Edinburgh Council is waiting for a response now from Lothian Buses

The City of Edinburgh Council is waiting on a response from Lothian Buses before considering this matter further at a council meeting later this month.

 

 

 

 

 

 

 

27 Sep 2016