Crucial Economic measures delayed

The main criticism which the Prime Minister was making of the Conservatives for the first two months of this year was to allege (wrongly) that our policy on the recession was to "do nothing."

Which makes it ironic that, as William Hague pointed out at Prime Minister's Questions today, crucial economic measures which the government had said they would put in place to help businesses have been delayed.

He highlighted the example of the Government’s loan guarantee scheme, which was announced in January and due to be launched on 1st March, but is still not operational.

This flagship scheme, designed to get credit flowing to businesses again, has yet to guarantee a single loan – and, as a result, companies are going under and jobs being lost.

William stressed that there was “a failure to implement right across the Government’s economic policy” and listed other Government measures that have been postponed:

* The jobs recruitment scheme has been delayed until April
* The mortgage support scheme has yet to be worked out
* The guarantee scheme for asset bank securities is not starting until April
* The Lloyds Bank deal has been delayed

William ended by warning that the Government no longer commands the confidence of the British people, and stressed, “The people who got us into this mess can’t be the people to get us out of it.”

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