WIREDGOV

Secretary of State for Wales Paul Murphy launched the Government’s new ‘Real Help for Wales’ document at the fifth All-Wales Economic Summit at Swansea yesterday (Tuesday, 7 April).

The fifth session of the all-Wales Economic Summit brought together business leaders and representatives of key sectors at Swansea’s Liberty Stadium to review progress on tackling the recession.

Launching the bilingual booklet, Mr Murphy said: “The document sets out exactly how the UK Government is working hard to stimulate support for the Welsh economy to allow it to perform strongly in the coming months and years, and help give it the edge needed to compete in today’s difficult global conditions.

“Working in close partnership together, the Government and the Welsh Assembly Government is offering support to stimulate the economy, build on the nation’s strengths and help Welsh families and businesses through the tougher times ahead.

“A new range of government help is being made available for those who need it, from homeowners with difficulties paying their mortgages, to workers facing redundancy and people seeking employment or training. But negotiating your way through the vast number of initiatives being announced can be confusing. This document has been designed to provide businesses, households and families in Wales with details of the help available to them.”

Mr Murphy said real help is already being delivered on the ground.

He said: “Throughout the UK, over 1,600 small businesses are having loans, valued at £173m, processed through the Enterprise Finance Guarantee Scheme. Over 250 businesses have also registered their interest in applying for Capital for Enterprise Fund, which provides equity investment, enabling them to pay off existing debt or invest in their companies.

“In Wales, so far, over 4,100 businesses have gained agreement to defer tax payments worth more than £57m, through the HMRC Time to Pay scheme.”

Mr Murphy added: “Increases in child benefits, tax credits and pensions, which came into effect with the start of the new tax year yesterday, will also provide extra help for many thousands of households across Wales at a time when it is most needed.”

Before the All-Wales Economic Summit, Mr Murphy visited Swansea University for a presentation on the University’s Knowledge Economy Strategy and plans for the second campus and potential industrial partners for the second campus development.

Notes

Download the Real Help for Wales booklet here.