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Lib Dems Urge Support for Local Businesses

November 15, 2010 12:00 PM
Vince Cable

Vince Cable - Hosted first Small Business Economic Forum

October saw the launch of the coalition government's Small Business Economic Forum. The first meeting was hosted by Lib Dem business secretary Vince Cable who stressed the need to improve the flow of funding to small businesses. Future meetings will be chaired by Small Businesses Minster, and local Tory MP, Mark Prisk.

Writing about the launch of the Forum, Accountancy Magazine cited Prisk's acknowledgement of the importance of constructive communication between government, banks and small businesses. If only Mark Prisk could explain how important this is to his local Tory Councillors as, following a Freedom of Information request from local Lib Dem Matt Harris earlier this year, it was revealed that Tory controlled East Herts Council directed only 6% of its annual spend to local SMEs (Small and Medium size Enterprises).

This is despite the fact that the council has a Procurement Policy which includes the objective of encouraging investment in the local economy through the use of small and medium enterprises.