Thursday, March 08, 2012

Green Investment Bank Comes To Edinburgh. Part-Time.

Spraying the bowler hat fluorescent green
Photo by Dumbledad

I can't remember what forfeit I promised to do if the Green Investment Bank ever came to Edinburgh, honest, but I obviously called it wrong.

Except, I only called it half wrong. The bank is to be based in Edinburgh AND London. It seems like although the HQ will be in Edinburgh, most of the staff at the sharp end will be in London. Which isn't much of a "win" for Edinburgh, when you think about it. A couple of secretarial or PA jobs for directors who can stay in London if they choose.

It also smacks a bit of the tactics that companies use to avoid tax - say that their business is based in one country, but actually do business elsewhere. Of course, the tax-status question doesn't come up in this case but can we truly say that the bank is in Edinburgh? "Based", yes. "In"? It doesn't look like it.

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