Monday, March 28, 2011
A boost for the economy
After the march through London on Saturday against public sector cuts this morning's Daily Telegraph reports some encouraging news when it says that thirty nine of the country's leading venture capitalists written to the papeer to welcome new investment rules introduced by the Chancellor as a "shot in the arm" for enterprise, allowing them to pour more funds into start-up projects.
The paper say that the businessmen reserve particular praise for Mr Osborne's decision to increase tax relief on investment in new businesses from 20 to 30 per cent, which they say will provide a "massive boost" to entrepreneurs.
Whether any of this money finds its way to Wales of course depends on how open for business the Welsh Government really is. So far signs have not been encouraging with at least one investor I am aware of tearing his hair out in despair at the failure of the economic development department to match their words with actions.
Those who did march of course, have genuine concerns that need to be listened to. The UK Government has to try and ensure that cuts avoid hitting those who are worse off. It is though imperative that we clear up Labour's mess and get the country back on a firm footing.
Interest paymments of £15 billion a year are the equivalent of the Assembly's entire budget for education, health and all the other services it funds and are unsustainable. Even Ed Miliband told protestors that there needed to be some cuts. What he failed to do though was to say where or to outline any alternative.
The paper say that the businessmen reserve particular praise for Mr Osborne's decision to increase tax relief on investment in new businesses from 20 to 30 per cent, which they say will provide a "massive boost" to entrepreneurs.
Whether any of this money finds its way to Wales of course depends on how open for business the Welsh Government really is. So far signs have not been encouraging with at least one investor I am aware of tearing his hair out in despair at the failure of the economic development department to match their words with actions.
Those who did march of course, have genuine concerns that need to be listened to. The UK Government has to try and ensure that cuts avoid hitting those who are worse off. It is though imperative that we clear up Labour's mess and get the country back on a firm footing.
Interest paymments of £15 billion a year are the equivalent of the Assembly's entire budget for education, health and all the other services it funds and are unsustainable. Even Ed Miliband told protestors that there needed to be some cuts. What he failed to do though was to say where or to outline any alternative.
