Cardiff Council shows speed and imagination in responding to the recession - Randerson

5.06.00pm GMT Tue 3rd Feb 2009

Lib Dem led Cardiff Council is providing over a million pounds to help local businesses

Welsh Lib Dem Assembly Member for Cardiff Central and Shadow Minister for the Economy, Jenny Randerson AM has welcomed the Liberal Democrat led Cardiff Council Executive's proposed budget, and in particular, the "speedy and imaginative" approach to dealing with the recession.

The proposed budget would see a package of well over a million pounds aimed at small and medium sized businesses in the capital, through grants, loans and training.

Jenny Randerson said: "The proposed budget shows a speedy and imaginative response to the recession. One of the biggest problems small businesses are facing is the issue of cash flow as the recession deepens, particularly when the banks are making borrowing more expensive and difficult.

"This draft budget will help some of Cardiff's most precariously placed businesses to survive. Gone are the days when Labour would raise Council Tax by over 10%, and yet the Lib Dem led Council continues to invest in services.

"I hope that other Councils and WAG itself will look closely at Cardiff's response to the recession and consider replicating this sort of approach."

Notes:

From the draft budget:

Cardiff Council will provide over £1.2 million of funding on a range of economic support initiatives in the coming year.

£750,000 in capital-related loans and grants for businesses

£125,000 to support council training and enterprise centres help more people back into work, provide additional capacity for Cardiff Credit Union, move forward projects to open up procurement opportunities to local businesses, and marketing of our business support programme

£350,000 in revenue grants for businesses

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