Supporting Scottish Business

That the Parliament notes the serious difficulties faced by the Scottish businesses struggling to access the funds that they need during the economic downturn, with the double squeeze of late payment and tighter lending a critical concern for small businesses in particular; notes that the Welsh Assembly Government is using European Investment Bank (EIB) funding to help small businesses bridge funding gaps, supporting the expansion of 800 businesses and creating up to 15,000 jobs across Wales; regrets that the Scottish Government has not introduced a similar initiative in Scotland; further regrets the Scottish Government’s inaction and delay in utilising the EIB funding available to it; believes that SNP ministers should use every lever at their disposal to help Scotland’s economy, and therefore calls on the Scottish Government to bring forward a statement before the summer recess containing new plans to use EIB funding to support small businesses so that they do not continue to be at a competitive disadvantage to their Welsh counterparts.