SCOTTISH NATIONAL PARTY CALLS FOR REAL ACTION TO SUPPORT SMALL BUSINESS.

SCOTTISH NATIONAL PARTY CALLS FOR REAL ACTION TO SUPPORT SMALL BUSINESS.

HIGH LEVEL BANKING SUMMITS MUST BE REPLACED WITH ACTION ON THE GROUND.

Speaking at Business Questions in the House of Commons today (Thursday), Mike Weir MP, SNP Business and Enterprise Spokesperson, who is also a member of the BERR select committee has called on the Business Minister to ensure that the promises made by banks to small businesses are kept.

Commenting, Mr Weir said:

“Appearing before the BERR Select Committee recently, Lord Mandelson conceded that it was vital that promises made by banking executives are acted upon on the ground.

“It is increasingly apparent to small businesses throughout Scotland that this is not happening. Many are having difficulties obtaining credit and indeed affording credit as banks fail to pass on rate cuts, renegotiate overdrafts on punitive terms and charge additional fees.

“Instead of holding interminable summits, the UK Government must take action to ensure that promises are delivered.

“Small businesses do not need grand declarations but real action to ensure affordable credit is available to help them through these difficult times.

“Bank bosses must be told in no uncertain terms that the massive amount of tax payers’ money made available to them was not to boost their profits but to ensure that small businesses have the credit they need.”