Flint Bishop

More action needed to help business tackle recession

Liberal Democrat Shadow Business Minister Lorely Burt has dubbed Gordon Brown the Jean Luc Picard of British politics and called on Ministers not to end many of the schemes that have been helping businesses get through the recession.

Speaking to Business Voice WM - at an event jointly organised by Forrest Research and Birmingham Business School - the Solihull MP was scathing.

She declared: "Gordon Brown is acting like Jean Luc Picard in Star Trek where he says 'Make it so'."

And, in reference to Government plans for an Act of Parliament that would seek to cut the national deficit in half, she added: "It is barking mad to think you can legislate out of your problems."

Ms Burt called for a series of Government schemes - that are aimed to help businesses get through the recession - to continue.

She said: "The Government has refused to change the timing of its VAT increase. The Federation of Small Businesses says the change should occur from February 1 to help the January sales. I agree.

"The top up credit insurance scheme is due to end on December 31. The car scrappage scheme is due to end at the end of February. The first year capital allowances scheme is due to end at the end of April. I have asked the Government for certainty about these schemes.

"I have urged the Government to continue the Enterprise Finance Guarantee scheme. The automotive assistance programme has not worked. Jaguar Land Rover was messed about by officials and it realised this was not worth the candle and got funding from elsewhere."

Prof Robert Cressy, of Birmingham Business School, speaking at the same event, slammed the Financial Services Authority (FSA) for not properly overseeing the growth of self certified mortgages, which, he claimed was leading to "the UK's sub prime crisis".

He added: "The FSA must shoulder much of the blame. Self certified mortgages (SCMs) are inherently risky as marginal borrowers could not get loans on the basis of standard income assessments. The FSA either didn't know the extent of SCMs or, more likely, was under the illusion that the property bubble would never burst."

Business Voice WM is helping to develop action plans for the construction and textiles sectors which should be ready by the end of the year.

But BVWM Executive Director, James Watkins cautioned: "Too many businesses are having problems exporting to key European Union markets and the United States because of the difficulties in getting export credit insurance.

"While the Government has acted with a letters of credit scheme for developing countries, the lack of action in getting the credit insurance market moving again for developed countries could delay the export led recovery that this country so sorely needs."

 

 

Bookmark and Share

Article published by Midlands Business News on 21 December, 2009

Submit your company news and photographs to Midlands Business News via email news@midlandsbusinessnews.co.uk or submit news and events online here.

midlandsbusinessnews.co.uk is an online Midlands business news network and we welcome submissions of your company or business related news articles and event notifications.

 

 

Articles submitted by Business Voice West Midlands:



  • Chinese partnership hope for Longbridge - click to read
  • Rural areas not getting a fair crack of the whip - click to read
  • Maintaining some Regional Planning is ‘absolutely right’ – Business Voice West Midlands - click to read
  • MPs urge Business to back vote referendum - click to read
  • Empty business rates tax must stay - Government - click to read
  • Boffins and businesses need to pool together – Business Voice West Midlands - click to read
  • Business Voice calls for first technology centre for West Midlands - click to read
  • Society needs to pool together at flood times - click to read
  • Internships are good for graduates - click to read
  • Business Voice call to ease tax bombshell - click to read
  • Business Voice West Midlands pays tribute to those honoured in the region - click to read
  • Red tape hampering research bids - click to read
  • HSR benefits must be spread, says Business Voice WM - click to read
  • Business Voice WM wants action on power cuts inquiry - click to read
  • Rail network needs long-term franchises, says Business Voice WM - click to read
  • West Midlands secures extra Euro-seat - click to read
  • Pressure grows for extra West Midlands Euro-seat - click to read
  • Call for action on India flights impasse - click to read
  • Banks still not playing fair, warns Business Voice WM - click to read
  • Business leads demands for action on Midland economy - click to read
  • Milton Keynes development remains a threat to West Midlands - click to read
  • Former Birmingham airport boss call for ‘smart’ transport - click to read
  • Business leaders in the Midlands step up push for better rural broadband - click to read
  • Anti-crime event in the Midlands aims to put criminals out of business - click to read
  • West Midlands bid for Regional Growth Fund money - click to read
  • Midlands manufacturers need to take on Chinese competition - click to read
  • Business Voice WM steps up campaign over power cuts - click to read
  • City Region needs to become more effective - click to read
  • Truck security vital argues Business Voice West Midlands - click to read
  • Business Voice West Midlands wins further support from Chartered Institute of Marketing - click to read
  • Parity Plea on European Representation - click to read
  • Midlands based crimefighter Jean set to stamp her authority - click to read
  • Business backs regional plan for jobs in the West Midlands - click to read
  • Business leaders in the Midlands welcome green light on high speed rail and next generation broadband - click to read
  • Midlands businesses want better approach to flood prevention - click to read
  • Politicians must not walk away from West Midlands - click to read
  • Midlands professionals must get up to speed on Islamic finance - click to read
  • MPs back business demands for rural housing - click to read
  • Pressure builds over ‘shabby’ Birmingham International station - click to read
  • Competition could boost region’s tourism - click to read
  • Super fast broadband pilot areas sought in the Midlands - click to read
  • Crime costing West Midlands businesses a fortune - click to read
  • Business backs Culture Capital bid - click to read
  • Shabby station under fire from Midlands business leaders - click to read
  • Think local to beat global crisis, urges Midland business leader - click to read
  • Business urged to help City Region take off - click to read
  • Homes and jobs key to thriving cities - click to read
  • Business crime forum goes nationwide - click to read
  • Time to Train for staff - click to read
  • Sink estate warning from business leaders - click to read
  • ‘Don’t be a hero’ in the face of violent crime - click to read
  • Pincer movement will drive next generation broadband - click to read
  • Manufacturing remains the key, MP tells business leaders - click to read
  • Business anger grows over power cuts - click to read
  • Crunch year ahead for West Midland businesses - click to read
  • Region needs extra MEP - click to read
  • Saving your IT if floods strike - click to read
  • More action needed to help business tackle recession - click to read
  • Business-focused Regional Development Agencies must stay says Business Voice West Midlands - click to read
  • Businesses attack epidemic of late payment - click to read
  • West Midlands textile firms set for a bright future - click to read
  • West Midlands villages urged to take broadband initiative - click to read
  • Property market woes hold up Ministry move to Birmingham - click to read
  • Tories to axe regional development agencies – except London’s - click to read
  • Banks putting SMEs in an intolerable position - click to read
  • Welcome for Prince’s broadband warning - click to read
  • Conference aims to show the way for the West Midlands recovery - click to read
  • Global opportunities for Midland businesses - click to read
  • Business gets key role in influencing Government policy - click to read
  • Energy giants accused of crippling businesses - click to read
  • Broadband to help region out of recession - click to read
  • Power Won’t Be Cut, Says Minister - click to read
  • Powerful new voice for West Midlands business - click to read
  • Search the site

    News Article
    Search



    Faces behind
    the business

    Gillian Davies

    Gillian Davies



    PressVine
    The Maynard Hotel
    Incentive & Motivation
    Klick Solutions Media
    Gourmet life

    Need a Service?

    Search our Midlands
    Business Directory