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Daily Record
Daily Record
National
Kirsty Paterson

Vital Falkirk projects including flood defence scheme hit by soaring construction costs

Soaring construction costs have left question marks hanging over funding for two major infrastructure projects in Falkirk.

There is still no certainty about how the council will be able to fund Grangemouth's Flood Prevention Scheme at an estimated cost of at least £450 million, or make long-awaited improvements to the notorious Avon Gorge.

Both projects are earmarked to received Tax Incremental Finance (TIF) funding, which means the cost of new infrastructure is met by borrowing against future business rates.

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