Lib Dems launch Entrepreneur start-up allowance
The Leader of the Welsh Liberal Democrats Mark Williams will today (Tuesday 6th June) urge small businesses in Wales to back the Welsh Liberal Democrats on Thursday.
Mark Williams will argue that the uncertainty of the Conservative’s plans for Brexit will damage the Welsh economy.
The Liberal Democrats would give a “start-up allowance’ to help budding entrepreneurs with living costs in the first six months of setting up their business and would invest £100bn in Britain’s infrastructure, including investing in rural transport and broadband.
Mark Williams said:
“Small business and entrepreneurs are the backbone of the Welsh economy, and it is there that we will create a stronger, sustainable economy for the future.
“The simple fact is that the Liberal Democrats are the only pro-free trade, pro-single market, pro-business party left in British politics. We are needed to fight the corner of businesses in the years to come.
“The uncertainty of what lies ahead has left small businesses in limbo, not knowing what lies ahead, not knowing whether the pound will plummet further.
“We need a radical and responsible programme of investment to give our small businesses and our entrepreneurs hope for the future, enabling them to succeed during what will be difficult economic times.”
DIWEDD/ENDS
Notes to editors
£100bn programme of investment;
New direct spending on house-building to help build 15,000 additional homes, helping to achieve our target of 300,000 across the UK by the end of this Parliament.
Improved access to mobile and broadband connections across Wales, especially in rural areas
Capital investment in schools and hospitals to support capacity increases and modernisation.
Additional funding to bring more private investment into renewable energy, such as the creation of the world’s first tidal lagoon in Swansea Bay.
The electrification of the North Wales Main Line and funding for a feasibility study into re-opening rail links between Aberystwyth and Carmarthen.
The Start Up Allowance:
Budding entrepreneurs would receive £2600 over the first six months (£100 a week) of setting up their new business. It is to help with living costs in the testing early stages.
The British Business Bank:
Founded by Vince Cable to investment in young, fast growing companies. The initial objective was to unlock £10 billion of new finance and bring greater choice. We want to expand that, and include mentoring.
Costings/Savings
The Start Up Allowance will cost £36m in 2018-19. In total, it would cost £146m by 2021-22.
Implementation
We aim to expand the British Business Bank in the next Budget, and introduce the Start Up Allowance by 2018.
Application
This will apply UK-wide.
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