§ 13. Mr Geraint Howellsasked the Secretary of State for Wales if he will take steps to help the self-employed and small firms in Wales during the coming year; and if he will make a statement.
§ Mr. Nicholas EdwardsThe Government in their fiscal and other policies are giving high priority to helping the self-employed and small businesses. My Department and the agencies for which I am responsible recognise the importance of the small business sector in our economy in Wales and will give every possible assistance and encouragement.
§ Mr. HowellsI am grateful to the Secretary of State for his reply, but I am sure he is aware that many self-employed 18 people and small firms in Wales are finding life very difficult these days because of high interest rates——
§ Mr. Russell KerrAnd many other things.
§ Mr. HowellsThe Secretary of State is responsible for Wales on behalf of the Welsh people. Will he take the matter up with the Chancellor of the Exchequer to persuade him to lower the bank interest rate forthwith to help the economy in Wales?
§ Mr. EdwardsI am glad that I shall have the hon. Gentleman's support in all our measures to reduce public sector borrowing, which is essential if we are to reduce interest rates. I am glad that he regards it as an important priority. I hope that he will also agree that the Chancellor announced an important package of measures for small businesses in the Budget.
§ Mr. HoosonIn seeking to help small businesses, particularly in Mid-Wales, the area covered by the rural development board, will the Secretary of State discuss with the board the possibility of extending its activities to encourage service businesses no less than manufacturing ones?
§ Mr. EdwardsI have discussed the encouragement of service ventures with the agency and with the board. Under the Act they have the power to support service industries, and I know that in planning their industrial locations they are taking increasing account of the need for a service element on the sites as well as purely manufacturing development.