The British Marine Federation (BMF) has welcomed the announcements set out in yesterday’s Budget to support small businesses and boost trade overseas, but is disappointed that more has not been done to boost UK tourism.
 
The Chancellor’s announcement that the Government will invest £2.5bn in a one off growth package to help small businesses is particularly welcome when so many members continue to face challenging economic times.
 
The BMF is also aware that with many members still facing difficulties accessing credit, Government plans to create a Small Business Credit Adjudicator to enforce compliance if credit has been unfairly held back, will be very welcome.  
 
The BMF is also delighted that the Government has promised to support the banks in providing new business loans. We believe that, regardless of which political party wins the next election, support for SME’s should be at the top of the Government’s agenda.
 
The BMF is also pleased that the Treasury is supporting British Waterway’s (BW) pursuit of mutual status and acknowledges the benefits this could bring for the inland marine sector.
 
Rob Stevens, Chief Executive of the British Marine Federation, said:
 
“The BMF welcomes all government measures to expand finance and credit for SMEs. Over the next few days we will be looking in detail at the measures announced in the Budget to assess what affect they will have on our members. But anything which helps to retain and build our manufacturing sector and grow our members’ businesses should be welcomed”.
 
“We recognise the benefits that increased flexibility and independence from Government could bring to British Waterways (BW)”.
 
“We remain open to the idea of BW entering the third sector. And we look forward to working with Government and BW to help shape the future, in whatever form that may be”.
 
However, the BMF is disappointed that government has not done more to help UK tourism.  The BMF believes that the Government should be doing more at this time to ensure that tourism is at the forefront of the economic recovery.
 
The BMF will continue to work hard on behalf of its members. Its work ensures that the industry gets the support it needs to flourish in difficult economic conditions. Whether through lobbying on bank credit, manufacturing or skills, the BMF will continue to press Government to do the right thing by the Marine Sector.

Picture: Daily Telegraph