Financial Support (Business)

Part of Oral Answers to Questions — Wales – in the House of Commons at 11:30 am on 30 April 2003.

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Photo of Peter Hain Peter Hain The Secretary of State for Wales 11:30, 30 April 2003

When will the hon. Gentleman rely on facts instead of rhetoric? That is the question. Let us look at the facts. Three thousand more businesses were created in Wales last year. There has been a higher start-up rate of businesses than in any other region of the United Kingdom, owing to Labour's support policies for Welsh businesses. There is a lower failure rate of businesses than in any other region of the United Kingdom, owing to the support that the Labour Government are putting into the Welsh economy. That is a record to be proud of, compared with the Tory record of record bankruptcies, record high unemployment and record collapse in manufacturing across Wales.