Cannan raises concerns over revised Pinewood deal

Wed, 03 Oct 2012

Alf Cannan

One of the original detractors of government’s partnership with Pinewood film studios says the revised deal has done little to appease his initial concerns.

This week Treasury announced it will now pay £12.2 million - half of what was originally forecast - yet still retain all of the original outlined advantages.

Michael MHK Alf Cannan says he is still of the opinion that the share deal with Pinewood is not a suitable use of government's reserve funds.

He says he is struggling to see the tangible benefits and believes the money would have been better invested in establishing new businesses or helping existing ones to grow and develop.

Mr Cannan believes as far as he can tell the only winner will be Pinewood:

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