Coalition Government to ensure 'credit' for small businesses

The British Marine Federation (BMF) has welcomed the new coalition Government’s pledge to ensure banks lend to small businesses.

Rob Stevens, Chief Executive of the BMF said: ‘The BMF looks forward to working with the new coalition Government. We await formal confirmation of all government appointments but we would particularly like to welcome the new Secretaries of State for the Environment, Business, Transport and Culture into their respective roles. We look forward to working closely with all members of the new administration over the coming months and years.


“We also welcome the Government’s commitment to ensuring economic recovery and growth. Under the coalition agreement, the new Government said it would develop effective proposals to ensure there is a sufficient flow of credit to viable SMEs. The new Government said that this would include consideration of both a major loan guarantee scheme and the use of net lending targets for the nationalised banks.


“We welcome this commitment from the Government to support small businesses and we look forward to early Government action on this issue. The BMF believes anything which helps to retain and build our manufacturing sector and grow our members’ businesses should be welcomed.


“We will also work closely with the Government as it seeks to develop its ambitious plans for marine energy and a greener, more sustainable environment.


“The BMF has well established working relationships with politicians across the three main parties and they will continue in the new Parliament.  With 232 new MPs in the House of Commons the Federation will be placing effort into building new relationships and increasing the profile of the leisure marine industry as a successful sector of the UK economy.”