KPMG REPORT: 77% OF SMALL BUSINESSES LACK CONFIDENCE IN GOVERNMENT POLICY

12.18.18pm BST (GMT +0100) Mon 19th May 2003

Commenting on the findings of a report released today by KPMG ahead of the Smarter Business 2003 conference which shows only 23% of small businesses say Government policy is helping, Vince Cable MP, Liberal Democrat Shadow DTI Secretary, said: "This is the latest in a long line of recent reports emphasising the fact that British business is suffering as a direct result of Labour policy."

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"With a huge proportion of the small and medium sized business community feeling let down, it is time for the Government to completely and radically rethink its approach to the sector.

"It is very clear that the manufacturing industry, for example, has been enormously disadvantaged relative to its European counterparts by the uncompetitive and volatile British currency in recent years. "In the absence of any commitment to Euro entry it is imperative that Government tell British business precisely what it is going to do to tackle this crisis" "

"ENDS "

"Notes:"

"Smarter Business Conference will be held from 3 to 5 June 2003 at Earl's Court. Patricia Hewitt will be a keynote speaker at the event. The survey of 300 managers of Small and Medium Sized Enterprises was commissioned by Conference organisers and compiled by KPMG, the Accountancy Firm. Only 23% of those surveyed said the DTI does a good job in creating the right framework for business to thrive.