Nicola calls for help for small businesses (Colne Valley Liberal Democrats)

Colne Valley Liberal Democrats <info@colnevalleylibdems.org.uk>

Nicola calls for help for small businesses

November 6, 2008 10:28 PM

Liberal Democrats in the Colne and Holme Valleys have backed plans to help small businesses survive the looming recession.

The plans to boost local businesses were launched by the LibDem leader Nick Clegg and the party's Shadow Chancellor Vince Cable. They include:

• 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

• A new code of conduct to be adopted by banks, which receive government financial assistance, on rearranging business credits 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 the Colne and Holme Valleys", said http://www.colnevalleylibdems.org.uk/>Nicola Turner, the Liberal Democrat Parliamentary Candidate for the Colne Valley. "It is vital that we give them a fighting chance to get through this recession.

"The government has given a massive bailout to the banks. But ministers must now look at the bigger economy. I know how small businesses here in Colne Valley are suffering from the downturn. It is the same in my own company as well as throughout the country generally. Profits are being squeezed and jobs are at risk.

"A big cut in interest rates will be a massive boost to many local businesses and could mean the difference between staying open or closing down.

"Both Nick Clegg and Vince Cable have taken the lead with their plans to help local businesses and I am giving these plans my full backing."