Conservative leader David Cameron has continued the barrage of attacks mounted by the Tories over the way that Gordon Brown’s Labour Party have handled the current credit crisis.
In an article in the Observer, Cameron has called upon the government to offer help to small businesses by deferring payment of VAT for six months. The VAT would still have to be paid, along with a nice 7.5% interest for the privilege.
Cameron said that his party would be unveiling plans to help families, homeowners and entrepreneurs during the coming months. He also urged banks to treat small businesses fairly, recognising that “Small and medium-sized businesses employ over 13 million people and turn over £1,440bn a year. We intervened to prevent the beating heart of our economy - the financial system - from collapsing. We’ve got to do the same for its lifeblood.”
Meanwhile Labour’s prodigal son Peter Mandelson has been threatening to get tough with any of the banks accepting the governments help, who are reported to be catching small businesses with higher than normal administration costs when setting up finance deals.
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