Delyn MP David Hanson as met with fellow North Wales Labour MPs at a North Wales economic at Westminster. The event, organised by the North Wales Group of Labour MPs, was attended by business leaders from North Wales, Treasury Minister Yvette Cooper MP and Secretary of State for Wales Paul Murphy MP.
The main theme of the discussion was how the government plans to ensure that banks resume lending to businesses. This focused on the launching of the ‘Small Business Guarantee Facility.’ This is a new temporary guarantee scheme enabling up to £1bn of new Government supported lending by banks. The initiative allows businesses to borrow any sum, from £1,000 to £1m, at cheaper rates and for a longer period.
David Hanson said:
“Small businesses in North Wales are the backbone of the economy which is why the North Wales group of MPs called this meeting.
“With the Pre-Budget Report on Monday this was an important time to talk to business leaders and listen to their concerns. The meeting was positive and I hope that we can all work together to support business in North Wales through this difficult time.”
Paul Murphy MP, Secretary of State for Wales told the summit he ‘was very pleased to be invited to meet with business representatives from across North Wales, building on my recent visit. I will continue to listen to what hardworking businesses are telling me, and I will help foster a dialogue between them government.’
Gwyn Evans, of the Federation of Small Businesses said, ‘This was a very positive meeting, this is an excellent foundation on which to build a dialogue. Access to private finance is the key to business success. Put simply, cash-flow is king. It was very useful to be able to ask questions and have some of the more detailed points of the pre Budget report explained to us by ministers. I hope this dialogue continues, and that we can all continue in a spirit of transparency.’