FPB: Don't blame the snow
Jan 26 2011
The FPB has blamed slow movement on policies to improve business finance rather than the weather
The Forum of Private Business (FPB) has rejected the government’s view that bad weather was the principal reason for yesterday’s shock GDP figure slump.
The lobby group argues that slow movement on policies to improve business finance, such as addressing the lack of affordable lending from banks and tackling the £24 billion in late payments owed to small firms across the UK, are the real reasons for the dip.
The Forum’s senior policy adviser Alex Jackman says: ‘Clearly the harsh winter weather has been one factor but still not enough has been done to remove the shackles created by tax, red tape and the continued lack of affordable funding preventing small and medium enterprises from growing, creating jobs lost in the public sector and driving real, sustained economic recovery.’
He adds, ‘Unless that changes, and changes quickly, there remains a very real threat of a “double dip” recession and that could spell disaster.’
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