George welcomes economic growth figures

Posted on: 25th July 2014

Commenting on today’s GDP figures showing that the economy grew by 0.8% in the last quarter, West Cornwall MP, Andrew George, has highlighted the role played by the Liberal Democrats in achieving economic growth, but also stressed the need for West Cornwall and Scilly to share in the economic upturn.

Mr George said, “The Liberal Democrats came into Government to build a strong economy and a fair society. Getting growth going and creating jobs is at the heart of that. Fixing the economy was always going to take time, but these figures are further evidence that a balanced economic strategy of fiscal stimulus and tough public spending controls pushed by the Liberal Democrats in Coalition has been working.

“This recovery would not be happening without Liberal Democrats in Government.”

“Cornwall and Scilly have benefitted from Government investment in times of austerity. Our businesses must be given the opportunity to flourish. I’m pleased the Government has backed Cornwall’s ambition to be well connected – fast broadband connection, further improvements to the rail service, investment in transport links from Penzance and Scilly and guaranteed funding streams to improve businesses who were affected by the winter storm damage. For our businesses to fully benefit from the economic upturn, Cornwall must be fully connected to the rest of the world.

“Through campaigning we have made sure that local companies and projects have received backing, from satellite communications and space science developments at Goonhilly, the £49 million secured by our LEP and Local Authority to create 4,000 jobs by 2021, to individual grants to many companies I’ve had the privilege to visit and support, like Helston business, Spiral Construction, which received a £312,000 grant to create 110 training places, including 20 apprenticeships.

“And we’re successfully rolling out opportunities for Apprenticeships across Cornwall, backed by the National Apprenticeship Service, Cornwall and the Isles of Scilly Local Enterprise Partnership and other training, business and Local Government stakeholders.

“Liberal Democrats in Coalition have created the conditions for economic recovery, but the Government still needs to reflect on the need to do more to protect our small businesses and entrepreneurs from the sharp and unethical practises of the banks. I’ve been pressing Government Ministers to take stronger action to combat the mis-selling of complex interest rate hedging products as a condition for business lending, and to compensate businesses which have been ill-treated in this way.

“West Cornwall has many businesses that can now look forward with growing confidence in the improving economic climate. I look forward to meeting and discussing with many of our leaders in the business and enterprise sectors at a business lunch next week – jointly organised by the CBI South West and myself.