Recession

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 12:00 am on 5 June 1991.

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Photo of Gordon Brown Gordon Brown Shadow Spokesperson (Trade and Industry) 12:00, 5 June 1991

Given today's latest figures which show that there has been a 97 per cent. rise in small business failures in the south and a 115 per cent. rise in business failures in the midlands, and given the latest forecast that up to 1,000 businesses every week could go under, will the Secretary of State, in addition to any talks that he will have with the banks, now speak up for the needs of the businesses of Britain? Will he urge the banks to bring down interest rates of 16, 17 and 18 per cent. as a matter of immediacy, or is he abandoning the small businesses of Britain just as quickly as the Government have abandoned the unemployed?

Secretary of State

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