GWE The Initiative, the Swindon-based support, advice and lobbying group, said it fully supported the approach of sticking with the Chancellor’s Plan A.
“While economic conditions continue to give cause for concern, it remains essential that Government sticks to its long-term plan of deficit reduction in order to install much needed confidence and stability into the business environment,” it said.
However it added that there remained deep-rooted concerns over rising unemployment and in particular youth unemployment, which required immediate attention.
“The confirmation of a new Youth Contract is therefore a positive step forward in addressing this issue,” it said. “However, Government must now look at how the education system can match the needs of business, and so the supply of vacancies available to young people.
“Business will also be encouraged to hear further confirmation of the £20bn credit easing package which is a step in the right direction for the many businesses that are central to economic growth and job creation. However despite the announcement, we remain mindful that improvements to reduce to cost of bank loans are only truly beneficial if the availability of finance for business is equally addressed.
“It is now crucial that the government does everything possible to put these initiatives into place on the ground and help the private sector create jobs as quickly as possible.”
