Member Article

Liverpool business group welcome Branson’s government criticisms

Downtown Liverpool in Business has reaffirmed Sir Richard Branson’s criticism of the Government’s failure to support and encourage small business growth.

The corporate network and lobby group says the regional business shares the Virgin tycoon’s concerns about the lack of clarity and leadership from the Coalition.

DLiB chairman Frank McKenna said: “The business community is getting concerned about the lack of clarity and leadership from the Coalition.

“There appears to be a ‘steady-as-she-goes’ approach as far as economic policy goes, and given the dramatic changes that we are witnessing in the Euro zone that does not seem appropriate.”

He added that the three biggest challenges facing Downtown members at present is a lack of confidence, access to finance and too much red tape and bureaucracy, and believes the Government is not helping anywhere near enough in any of these three critical areas.

Frank added: “I would urge the Prime Minister and the Chancellor to urgently review the course they have set.

“The last six months indicate that a programme that simply relies on austerity and public sector cuts will fail to grow the economy.

“We need more innovation, genuine encouragement for businesses and entrepreneurs and a business secretary that understands and actually supports the private sector.”

DLiB is calling for initiatives including National Insurance holidays, immediate cuts in corporation tax, VAT reductions in the retail sector and the implementation of the Beecroft recommendations to begin kick-starting the UK’s flagging economy.

This was posted in Bdaily's Members' News section by Tom Keighley .