More needed to help small businesses say Halewood Lib Dems
October 27, 2008 12:00 AM
Liberal Democrats in Halewood have backed plans to help small businesses
survive the looming recession.
The plan by the party to boost businesses was launched by leader Nick Clegg
and the party's Shadow Chancellor Vince Cable. The plan includes:
- a substantial cut in interest rates to lower the cost of loans and
investment;
- immediately overhauling the Small Firms Loan Guarantee Scheme to improve
government support for business loans;
- banks which receive government financial assistance adopting a new code of
conduct on rearranging business credit and overdrafts;
- developing with energy companies an assistance package for small
businesses struggling with high energy bills
"Small businesses are the lifeblood of the economy here in Halewood," said
Cllr Dave Smithson. "It is vital that we give them a fighting chance to get
through the recession.
"The government has given a massive bailout to the banks. But ministers must
now look at the bigger economy. Small businesses here in Halewood, and
throughout the country generally, are suffering from the downturn. Profits
are being squeezed and jobs are at risk.
"A big cut in interest rates will be a big boost to many local businesses
and could mean the difference between staying open or closing down.
"Nick Clegg and Vince Cable have taken the lead with their plan to help
businesses and I am giving it my full backing.
"As a small business owner myself I know just how tough things can get when
there is a downturn in the economy, how difficult it can be to get invoices
paid promptly and how hard it is to get credit from the banks," Cllr
Smithson added.
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