Welcome for Cable vision
GOVERNMENT attempts to kick-start the economy have been welcomed by business leaders and economic experts.
Business secretary Vince Cable yesterday unveiled a long-term 'vision' for the future of British industry including a new Government-backed bank to increase lending to businesses.
It came days after Prime Minister David Cameron announced planning regulations on homes and businesses would be relaxed, and that an extra 16,500 first-time buyers will receive help getting on the housing ladder.
Paul Williams, head of Staffordshire University's Business School, said: "Anything we do to support families and businesses seeking to expand must augur well.
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"This is a clear message from the Government of its intention to 'get Britain building'. However, the timing could not have been worse, with previous growth predictions being slashed to forecast a 0.7 per cent contraction of the economy."
Richard Halstead, Midlands regional director at EEF, the manufacturers' organisation, added: "Business will welcome Government attempts to provide greater certainty and prioritise how it invest its resources."