BUSINESS

New equal pay deal moves step closer

A new round of settlements in Glasgow’s long-running equal pay dispute have moved a step closer after councillors approved a strategy to fund compensation offers.

A new round of settlements in Glasgow's long-running equal pay dispute have moved a step closer after councillors approved a strategy to fund compensation offers.

It comes four years after a deal was reached on a package of equal pay compensation worth around £500m, which was financed through a sale-and-lease-back arrangement, under which wholly-owned arm's-length firm City Property Glasgow Investments borrowed to purchase a portfolio of operational buildings from the council before leasing them back.

Dan Peters

Popular articles by Dan Peters

SUBSCRIBE TO CONTINUE READING

Get unlimited access to The MJ with a subscription, plus a weekly copy of The MJ magazine sent directly to you door and inbox.

Subscribe

Full website content includes additional, exclusive commentary and analysis on the issues affecting local government.

Login

Already a subscriber?