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WHO WINS UNDER PROACT? NOT CONWY....

As this blog has pointed out time and time again, the ProAct scheme is a policy that could support businesses through a recession, but only as part of a wider package of measures. It certainly isn't the panacea to the deep-seated economic problems faced by our country.

Despite the fact that small firms have been hit hardest during this recession, 68 per cent of ProAct funding has gone to large firms and I find it strange that £1.1 million of public support should be offered to a multinational company such as Corus, especially when there are thousands of small businesses that require help during the economic downturn.

Of course, there are those who disagree with this, such as Gareth Jones, the Assembly Member for Aberconwy, who recently was moved to write a letter to the Daily Post criticising my stance on this issue.

I have a lot of time for Gareth, which is why I am perplexed that he suggested in his letter that I was wrong to criticise "the ProAct scheme for investing a million pounds in Corus because....it wasn't one of many small firms in serious financial difficulties and implying that this investment was of no help to small businesses".

Given this, it gives me little pleasure to reveal that the latest figures from the Welsh Assembly Government show that not one penny has been paid out under the ProAct scheme to help businesses in the Conwy local authority area, where the official unemployment rate has risen from 5.3 per cent to 8.1 per cent between September 2008 and 2009.

Therefore, whilst ProAct has actually been of no help at all to the small businesses in his own constituency, the local AM seems content to support the gift of over a million pounds to a large company that has itself admitted that it did not even qualify for the funding.




Comments

Anonymous said…
may be he should have word with Finance Wales Investments ,may be they could fork out a few bob.Well fairs fair, if big firms can get the money aimed at little firms, then why not vice versa.
November 10, 2009 6:50 pm
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