The UK Government is providing help on all fronts to get the economy growing again, Scottish Secretary Michael Moore said today.
Mr Moore said the scale of the global economic problems and the conditions left by the last Government means the Coalition Government has to use ‘our whole economic arsenal to help people and companies across Britain.’
Michael Moore said:
“The scale of the global economic problems, the plight of the Eurozone and the deficit left by the last Government mean that we have to provide help on all fronts to get our economy growing.
“This is not a one dimensional problem. We need to put more money in the pockets of those who need it most. We¿re supporting young people and others back into work through the Youth Contract and Making Work Pay tax credit. We have increased personal tax allowances and inflation is coming down.
“We are cutting Corporation Tax for companies and helping them gain access to new and emerging markets for export. We are investing in infrastructure such as the recent £9bn rail improvements for England and Wales, and by providing extra money to the Scottish Government for them to spend on capital projects.
“We are working to ensure the banks lend more to businesses, through the Funding for Lending and National Loan Guarantee schemes, to ensure projects that are nearly started get the final support needed to get them underway.
“We have established Catapult centres of excellence that will keep the UK at the forefront of developing cutting edge technology and we founded the UK Green Investment Bank which will provide lending for green energy projects.
“But there is still much to be done and we are using our whole economic arsenal to help people and companies across Britain. We are doing the right thing.”