The rate of development at Dundee’s Waterfront could slow due to the recent vote for Britain to leave the EU, it was revealed today.
The Tele has obtained a briefing note between Dundee City Council management and trade union representatives in which concerns about the Waterfront and other sectors of the city were detailed.
Among the issues mentioned were the number of workers in the NHS, potentially-stunted growth in Dundee’s involvement with the offshore industry and fewer people using Leisure and Culture facilities.
But one of the main points raised was the pace of the Waterfront development.
It read: “Dundee has had a limited amount of foreign direct investment in recent years but this issue is relevant given the continuing efforts to attract investors to the Waterfront and to attract energy-related investment to the Port of Dundee.
“The inflow of foreign investment into the commercial property sector fell 50% in the first three months of 2016 and has continued to decline. This has the potential to impact on the pace of development of Dundee’s Waterfront.”
Council leader Ken Guild said foreign investors would be waiting for the outcome of Britain’s deal from Brexit before deciding whether to make a move or not.
He said: “There is considerable interest in the Waterfront and elsewhere in Dundee, but foreign investors are waiting to see what happens first before they decide what to do. But this isn’t just affecting Dundee, this is happening all over.”
The briefing also examined the impact Brexit could have on Dundonians’ health too. It stated: “There will be a number of EU nationals employed in the care sector and work would be required to determine the scale of this as a proportion of the care sector workforce to risk assess the impact on the supply of current and future care and other workers.
“The NHS relies heavily on migrant workers and any changes to immigration policy may impact on their ability to deliver services.”
Leisure & Culture Dundee is likely to be affected as well.
The report said: “Leisure & Culture Dundee depends on the health of the local economy and uncertainty caused by the drop in the value of the pound, the impact on savings and investment, and uncertainty about the status of those European citizens living in the city, is all likely to impact on the numbers of people taking out Leisure Active membership and using the range of services provided by Leisure & Culture Dundee.”
Meanwhile, the briefing also revealed that there may be “potential implications” on Dundee Port benefitting from the renewables sector — but Mr Guild said that a legal battle over proposed offshore wind farms was currently a bigger concern.