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Salmond upbeat over HBOS takeover Salmond upbeat over HBOS takeover
(40 minutes later)
First Minister Alex Salmond has said there could be "a positive result for Scotland" from the takeover of Scottish-based HBOS by Lloyds TSB.First Minister Alex Salmond has said there could be "a positive result for Scotland" from the takeover of Scottish-based HBOS by Lloyds TSB.
It comes as Mr Salmond prepares to lead a presentation to Lloyds TSB bosses, setting out the advantages Scotland has to offer as a business base. Mr Salmond is preparing to lead a presentation to Lloyds TSB bosses, setting out the advantages Scotland has to offer as a business base.
The Scottish Government's Council of Economic Advisers met on Friday to discuss the £12.2bn takeover.The Scottish Government's Council of Economic Advisers met on Friday to discuss the £12.2bn takeover.
A framework backed by the Council will form a major part of Mr Salmond's case.A framework backed by the Council will form a major part of Mr Salmond's case.
The framework which was approved at Friday's meeting, called the Positive Case for Scotland, highlights the significant growth there has been in the country's financial sector.The framework which was approved at Friday's meeting, called the Positive Case for Scotland, highlights the significant growth there has been in the country's financial sector.
Both the government and business leaders want to retain as many jobs as possible in Scotland, as well as keeping decision-making functions north of the border.Both the government and business leaders want to retain as many jobs as possible in Scotland, as well as keeping decision-making functions north of the border.
The framework points out that Scotland is second to London as a financial hub within the UK, with more than half of the top 20 financial services companies having significant operations north of the border.The framework points out that Scotland is second to London as a financial hub within the UK, with more than half of the top 20 financial services companies having significant operations north of the border.
This is Team Scotland in action Alex Salmond As well as the existing workforce, there are also more than 60,000 higher and further education students in Scotland currently undertaking business and finance related qualifications.This is Team Scotland in action Alex Salmond As well as the existing workforce, there are also more than 60,000 higher and further education students in Scotland currently undertaking business and finance related qualifications.
Mr Salmond said: "The proposed merger of Lloyds TSB with HBOS certainly represents a significant challenge, but also a major opportunity to present a wholly positive case in order to secure decision making functions and jobs for Scotland.Mr Salmond said: "The proposed merger of Lloyds TSB with HBOS certainly represents a significant challenge, but also a major opportunity to present a wholly positive case in order to secure decision making functions and jobs for Scotland.
"As we build on this framework and assemble the full presentation we will make to Lloyds TSB, it will become ever clearer that the case for Scotland is formidable, based upon the excellence and scale of the Scottish financial sector."As we build on this framework and assemble the full presentation we will make to Lloyds TSB, it will become ever clearer that the case for Scotland is formidable, based upon the excellence and scale of the Scottish financial sector.
"We have been the best performing part of the UK in attracting financial services jobs over the past three years, offering a competitive advantage based on lower operating costs alongside a high quality base.""We have been the best performing part of the UK in attracting financial services jobs over the past three years, offering a competitive advantage based on lower operating costs alongside a high quality base."
He added: "The consensus nature of the Positive Case for Scotland is a major component of the strength of that case.He added: "The consensus nature of the Positive Case for Scotland is a major component of the strength of that case.
"This is Team Scotland in action, and I firmly believe that a united effort can deliver a positive result for Scotland during these difficult times.""This is Team Scotland in action, and I firmly believe that a united effort can deliver a positive result for Scotland during these difficult times."