Welcome for small businesses action plan - Hounslow Liberal Democrats

12.00.00am BST (GMT +0100) Thu 23rd Oct 2008

Cllr Andrew Dakers has welcomed Nick Clegg and Vince Cables plans to support small business

Liberal Democrats in Hounslow 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; and developing with energy companies an assistance package for small businesses struggling with high energy bills

Cllr Andrew Dakers, Leader of Hounslow Liberal Democrats, said:

"Small businesses are the lifeblood of the economy here in Hounslow. 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 Hounslow, 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."

Cllr Dakers has chaired Brentford High Street Steering Group since 2006. This multi-stakeholder group - supported by councillors from across the political spectrum - has worked on a variety of initiatives to support Brentford High Street in the short term as well as developing a longer term vision for the town centre's regeneration.

Related Link:

Brentford High Street Steering Group