Commenting following the announcement of a 2% cut in rates from Finance Wales for businesses in Welsh enterprise zones, Eluned Parrott, Liberal Democrat AM, said:
“This announcement will be welcomed by small and medium sized businesses planning on investing in Enterprise Zones, however, questions still have to be answered as to why Finance Wales’s interest rates are higher than they need to be across the country.
“The Enterprise Zones are looking to attract major investment, and the kinds of companies who are likely to be able to create 50 or 100 jobs in an Enterprise Zone are not likely to be SMEs. Nevertheless I hope the initiative helps to attract investment and kick-start job creation, which has been disappointingly slow to date. However on the broader issue, I do hope that the Welsh Government will look seriously at the interest rates it is offering through Finance Wales across the country, and take action to ensure that its rates are comparable with the market not unnecessarily expensive for companies who are trying to create wealth and encourage growth.”
