GRANGEMOUTH’S bosses have wrested a £230 million loan guarantee from coalition ministers less than a year after calling pay cuts a matter of “survival.”

Yesterday petrochemical firm Ineos revelled in news that it had secured the underwriting for a new facility to import shale gas, with billionaire owner Jim Ratcliffe declaring it “one of the most important projects of recent times in Scotland.”

“Our ability to import US shale gas underpins the future of manufacturing at Grangemouth and across many businesses in Scotland.