Slash Taxes on Business to Kick Start Our Recovery; TORIES DEMANDING DRASTIC ACTION TO REVERSE DECLINE

Daily Post (Liverpool, England), February 24, 2011 | Go to article overview
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Slash Taxes on Business to Kick Start Our Recovery; TORIES DEMANDING DRASTIC ACTION TO REVERSE DECLINE


Byline: TOM BODDEN

employee to a new high technology spin-off that is selling its products internationally.

"We also need to ensure that large businesses attracted to Wales, especially those from the manufacturing sector, are firmly embedded within a new innovation ecosystem."

The commission calls for a reformed Business Partnership Forum to agree economic development objectives; a new department for business and skills; electrification of the South Wales rail line and high speed broadband to every community in Wales by 2015.

But Plaid Cymru policy director Nerys Evans said: "What the Tories don't seem to be talking about today is the fact that if they had their way they'd slash an additional pounds 118m from the economic development budget, which would have catastrophic consequences for many businesses in Wales."

Meanwhile, figures from the Assembly Government showed medium sized enterprises were 'at the heart' of its new approach to economic development Some 98% of the enterprises in six key sectors for growth were SMEs.

DAILY POST SAYS: PAGE 8 A CUT in corporation tax for businesses in Wales is the radical step needed to end years of economic decline, a Conservative think-tank claimed yesterday.

The Welsh Conservatives economic commission set up in 2008 called for talks with the UK Government over the move to stimulate investment and jobs in the aftermath of recession.

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