Scotland lagging behind Wales in debt support for struggling businesses - Purvis (Aberdeen Central Liberal Democrats)

Aberdeen Central Liberal Democrats <info@libdems.org.uk>

Scotland lagging behind Wales in debt support for struggling businesses - Purvis

May 8, 2009 9:06 AM
Originally published by Scottish Liberal Democrats

Liberal Democrat Finance spokesperson Jeremy Purvis MSP has called on the Scottish Government to use European funding to help Scottish businesses who are struggling with the recession.

Mr Purvis is calling for the Government to use the EU's Joint European Resources for Micro to Medium Enterprises (JEREMIE) initiative to help struggling Scottish businesses through the recession.

The Welsh Assembly has already announced a new £150 million fund to help small businesses in Wales using JEREMIE funding.

Commenting, Mr Purvis said:

"Scottish businesses deserve better support from this Government. The SNP's Scottish Investment Bank is just a re-branding exercise. We know that existing programmes are not providing enough support for Scottish business.

"The Welsh Government is using European funding to help small businesses bridge funding gaps. They believe it will support the expansion of 800 businesses and create up to 15,000 jobs across Wales.

"The SNP's Scottish Investment Bank does not offer this, despite businesses telling Ministers that they desperately need access to debt lending.

"The Scottish Government should follow the Welsh example and use EU funding to make a real difference to Scottish business.

"SNP Ministers have a responsibility to use every lever at their disposal to help Scotland's economy. Establishing a JEREMIE support fund would provide debt relief for small and medium businesses struggling in the recession.

"It is disappointing that the Scottish Government has so far ignored my calls to act on this. Ministers must now follow the example set by the Welsh Assembly and take real action to help our small businesses."

Ends.