MP Ian Austin has demanded that Government Ministers take action to improve local manufacturers’ access to finance during a House of Commons debate.
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Dudley MP Ian Austin has demanded that Government Ministers take action to improve local manufacturers’ access to finance during a House of Commons debate.
Austin has visited several Dudley firms recently and heard from senior directors frustrated by their inability to access the finance they need to expand, including profitable, successful firms that export across Europe and have full order books but still can’t raise finance from the banks.
Speaking during a Parliamentary debate this week, Ian Austin MP said:
“The Government must do more to tackle the central barrier preventing firms expanding and creating jobs – lack of finance. I have written to the Chancellor and Vince Cable to ask them to take urgent action to ensure that good manufacturing firms are allowed to thrive.
“It defies belief that profitable companies, with full order books should be denied the finance they need to expand. The Government should be doing all it can to help these firms create jobs.”
Hansard transcript:
Ian Austin (Dudley North) (Lab): Every time I go to meet a successful manufacturing company that has orders waiting and wants to take on new staff, I am told that the central problem is the lack of finance. The Minister should be concentrating on getting money from the banks to manufacturers so we can get the economy moving and they can take on more staff.
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