Lib Dem recession busting plan unveiled

12.00.00am GMT Thu 4th Mar 2010

The controlling Liberal Democrat Group on Sheffield City Council have unveiled how their planned budget for next year will invest £3.3m to help local people and businesses suffering thanks to the recession. Cllr Colin Ross, Liberal Democrat Cabinet Member for Employment, Enterprise and Development said "Liberal Democrats know that getting the local economy back on its feet and helping local families who have been affected by the recession should be a top priority. That's why as well as proposing Sheffield's lowest ever Council Tax increase, we are prioritising a huge package of measures to help Sheffield beat the recession in the coming financial year."

The recession busting budget includes help to get people back into work, help for business start ups and existing business in addition to promoting Sheffield as a short stay tourist destination.

Action includes £1,600,000 to help get people back into work. Whilst over £200,000 will be available to provide a micro-loan fund so that local businesses have access to finance.

In addition there will be £170,000 to provide support for new businesses start-ups and nearly £700,000 to continue the BiG initiative, which helps people to set up in business, supports sustainable business growth and increases the success rate of locally-owned businesses in Sheffield.

There will also be £85,000 to support the promotion of Sheffield as a short-stay leisure break destination linked with the Peak District.

Colin added "It's so important that the Council ensures our local economy comes out of the recession in the best possible shape, that's why we were so pleased when the Independent Audit Commission praised us for doing just that. But now we have to move on to the next stage.

"These proposals just go to show that the local Liberal Democrats are taking action to support those that have been hit hard by the recession and to boost the local economy so that more and better jobs are created. After all, it's the economy stupid!"

The Liberal Democrat Budget for 2010/11 is set to be approved at the Friday 5th March 2010 Sheffield City Council meeting in the Town Hall.