Commenting on the announcement by the Welsh Labour Business Minister of an economic stimulus package of £55million, Nick Ramsay AM, Shadow Minister for Business, Enterprise, Technology & Science, said:
“While additional funding to support small businesses is welcome, it falls short of a Welsh Conservative commitment to abolish business rates, which would instantly inject money into our economy.
“At a challenging time for the Welsh economy, I am concerned that most of this funding does not become available until March 2012, which will come too late for many small businesses.
“We now look to the Minister for reassurances that struggling businesses will not be forced to wade through excessive bureaucracy and endless paperwork to apply for support to keep our economy moving.”
