The Rt Hon Ken Clarke MP, Shadow Minister for Business welcomed the opportunity to once again speak to the FSB. He emphasised the vital role that small business plays in the economy.

Economic background

The economy was a central theme of Ken's speech and he emphasised that no one really knew how long or how deep the downturn would be. Having now gone through the banking crash we have now seen the impact on the 'real' economy and finance is very difficult for small businesses to access.

Loan Guarantee Scheme

There is a need for one big simple national Loan Guarantee Scheme for firms of all sizes.

Turn Rhetoric into Reality

The Government were urged by Ken to turn their rhetoric into reality. Recently their has been a flood of press releases announcing new initiatives, 50 press releases issued on various initiatives with 14 issued last Thursday alone. The announcements of these schemes are running ahead of their actual implementation.

Economic Recovery

Focusing on the future Ken emphasised the the next 4 to 5 years would be challenging for whichever party wins the next election. He stressed that what was needed was a business friendly Government, the future well being of the country was dependent upon it.

Borrowing

Looking at Government borrowing, Ken issued the warning that the next Government will face a mountain of debt, as will every tax payer. The nature of the economy and politics needs to change with a more prudent Government focusing on helping businesses to grow.