Economy: Growth

Lord Touhig Excerpts

Wednesday 15th February 2012 Lords Chamber

[Lord Touhig]

Since the Welsh Government launched their £15 million economic growth plan in December, they have been inundated with requests for help, so much so that they now plan a £40 million fund to encourage SMEs. But Governments can only do so much: the real job belongs with the private sector. However, as we have seen from the figures released this week, the banks are not lending to their targets to SMEs. Will the Minister tell us what the Government are doing to ensure that companies in Wales can access the finance they need in order to invest and grow?

[Baroness Wilcox]

Wales is certainly receiving all the attention that we can give it. Wales has its own way of behaving and of running itself, and that is how we think it should be. I would of course mention that we are to have the Silk commission on further devolution for Wales soon, and we shall be interested to see that next year.