MP says Infrastructure funding should be redirected
Yesterday afternoon, Vince Cable MP [Secretary of State for Business] made a Statement about Industry Strategy in the House of Commons. John Baron MP took the opportunity to urge him to reconsider the Government’s funding of infrastructure projects and instead spend the money to help small and medium sized business [SMEs] to grow.
John asked:
“Given that growth is the key aim, will the Secretary of State cut at least some of the funding for infrastructure projects, as we cannot export bridges, roads or houses, and instead fund tax cuts for small and medium-sized enterprises to encourage them to grow? That is a more sustainable way of reducing unemployment, particularly if the dead weight of regulation is reduced, too.”
The Secretary of State said he disagreed with cutting infrastructure spending.
John said afterwards:
“Massive infrastructure projects resulting in a jump in imports and many salaries heading east will not benefit the economy. By contrast, SMEs are key drivers for employment and growth. The Government needs to do much more in this area.”
Ends
Word Count: 190
Date: 11th September 2012
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