Employment: Market and Coastal Towns

Earl of Courtown Excerpts

Tuesday 12th July 2011 Lords Chamber

[Lord De Mauley]

My noble friend makes a very strong point. The Government are committed to helping to rebalance the economy by supporting programmes to promote long-term private sector-led jobs and growth, including in the area that she mentioned.

[The Earl of Courtown]

Would my noble friend agree with me that SMEs are the backbone of economies in market towns and coastal resorts? Would it not be advantageous if the Government could put further pressure on the banks so they release funding for further expansion in these businesses?

[Lord De Mauley]

My Lords, I certainly agree with my noble friend that funding is a key point, and the Government are doing what they can to nudge the banks in that direction.