GOVERNMENT MUST HELP BUSINESSES TO BEAT THE CREDIT CRUNCH - BURT
July 14, 2009 7:29 PM
Solihull's MP, Lorely Burt has called on the government to help businesses attract investment and export across the world to beat the credit crunch.
The LibDem Small Business spokesperson warned that the tough trading climate could drive down UK exports by nine per cent, representing the biggest slump in trade since the Second World War.
Mrs Burt said: "There is no doubt that this is one of the toughest trading periods we have seen for a long time and companies in Solihull and across the country are finding the climate very difficult.
"Banks are still restricting credit to solvent borrowers and small businesses with exemplary credit records are still facing unrealistic demands for higher security and fees."
Research by the Liberal Democrats has discovered that the depression is costing the economy £8.6bn a year, up two thirds in a decade. Lost earnings have risen by £3bn since 1999.
"The government must do all in its power to encourage responsible lending to help businesses weather this recession and safeguard jobs," added Mrs Burt.
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