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| Orpington Magazine: Community's Spirit Can Power Growth Again |
| Tuesday, 18 October 2011 15:13 |
Getting our economy growing again, putting people back to work and supporting small businesses are the Government's top priorities. The unemployment figures for the economically active population aged 16 to 64 in Orpington stand, as of this month, at 3.4%, compared to 7.9% nationally – 470th of the UK's 650 constituencies. We have avoided the worst of the storm, but a rise in jobless claimants of 206 over the last year reminds us that we are not completely sheltered from it. Every job loss is a personal tragedy for that family and that is why ministers are doing all they can to create new jobs in the UK – already since the coalition took office, 500,000 new private sector jobs have been created. In June, I attended the Bromley Expo event at Oakley House, which brought together 62 exhibitors of small Bromley-based businesses and was attended by over 700 registered visitors. The exhibition featured a stunning array of Bromley's most enterprising, dynamic and spirited young firms. I was delighted to meet so many Orpington-based businesses and I welcome the decision to make it an annual event. Last month, I nominated Biggin Hill-based company Autoflame Engineering Ltd, and their close business supplier Limpsfield Engineering Ltd., for inclusion in the Associate Parliamentary Manufacturing Group's "Made By Britain" map, which is attempting to address the reputational problems facing the manufacturing sector by drawing up a diverse and comprehensive picture of contemporary British industry. Manufacturing is crucial to a sustainable and diversified British economy and I am delighted that we have in Biggin Hill a company with the innovation, skills and job-creating capacity of Autoflame. Their business is 60% exports, proving that the coalition's vision that the words Made in Britain will be seen across the world can be realised. The creation of 360,000 apprenticeships starting this year nationwide is a particularly promising start to giving people the vocational skills they need to put manufacturing back at heart of the British economy. But it is also imperative that businesses in Orpington have access to the credit they need to expand and take on more employees. I recently met with Barclays managers at the Orpington High Street branch to discuss how banks could increase lending to small businesses and families. We had a very frank and productive conversation about what banks need to do to help liquidity and capital flow into the economy and pour fuel into the engine of economic recovery. As recent research by ITV News has shown, over half of small firms applying for credit in the last six months have been refused. That is why I welcome the Chancellor's Project Merlin that was agreed with Barclays, as well as Lloyds Banking Group, Royal Bank of Scotland and HSBC, this February. Project Merlin will ensure that £190 billion of new credit is made available to businesses over the course of the year – of which £76 billion will go to Small and Medium Enterprises (SMEs). I would urge businesses in Orpington to take advantage of this scheme. Much work remains to be done to restore confidence, both locally and nationally, but just as we picked ourselves up after the mindless, nihilistic thuggery that reached a handful of mobile phone and videogame stores in the Nugents and on Orpington High Street this summer, I know the spirit of our community can lead the rest of the country in powering the jobs, growth and skills we need to get Britain working again. |
