NEWS: "So, why should I vote for you?"

MARK McLAUGHLIN
Edinburgh Evening News
4 May 2010


A BUSINESSMAN has erected a 40-foot-long hoarding outside his home challenging his local election candidates to personally explain how they are going to stop his business going to the wall.

Property investor Ian McDonald - who lives in Chancellor Alistair Darling's constituency - said he was forced to lay off nearly all of his staff and sell off assets when RBS began clawing back his loans at the start of the credit crunch.

He said his company, Loanhead-based Ian McDonald Enterprises (IME), is facing bankruptcy by the end of the year unless politicians can force the banks to start lending again.

He said: "Prior to the credit crunch RBS were actively encouraging me to expand, and offering me more and more loans to expand my portfolio of properties.

"I expanded to around 30 properties and employed a team of around 20, including joiners, plumbers, architects and lawyers.

"But then, as soon as the credit crunch hit, the bank turned around and said they wanted all of their money back. I had to lay off all of my staff and sell off the company vehicles to make the repayments.

"I've now been given until December to repay all of my loans. If I can't pay then I'm afraid I'll have to go out of business."

The 55-year-old businessman, who has two children and two grandchildren, decided to vent his fury in a very public fashion by spending GBP 450 to erect the huge banner outside his home on Lanark Road.

The banner reads: "I am a company director [and] have lived & worked my whole life in Edinburgh. I have employed on average around 20 people and I now employ one.

"Why should we the people suffer all property losses, higher interest, refusal to lend, no overdrafts, loss of house & careers?"

Mr McDonald, also chairman of local football team Redhall Star, has also questioned why he has never seen any of his candidates supporting the team.

He said he has received support from neighbours following the stunt, and has become "something of a local hero".

Mr Darling, who is expected to hold Edinburgh South West on Thursday, said: "I haven't heard from Mr McDonald so far but I would be happy to discuss his problems with him, as I am with every constituent."

SNP candidate Kaukab Stewart visited him last night, while Liberal Democrat candidate Tim McKay also vowed to pay him a visit.

Conservative candidate Jason Rust declined to comment.

An RBS spokesman said it was keen to investigate Mr McDonald's case: "We continue to support viable businesses and during 2009 approved 85 per cent of all lending requests. That said, we also know that it is not in anyone's interest for us to extend borrowing to businesses which are unable to repay."