Credit squeeze prompts Ministerial briefing

Restoring business confidence during the economic downturn was the key theme of a meeting between John Denham MP and the Southampton and Fareham Chamber of Commerce and Industry today.

More than 50 Chamber members, including accountants, solicitors, property agents, office suppliers and motor dealers, attended the lunchtime briefing at St Mary’s Stadium, home of Southampton FC.

Mr Denham, who is Secretary of State for Innovation, Universities and Skills as well as a local MP, said it was critically important that small- and medium-sized businesses had the best available independent professional advice to keep going.

And he said it was a challenge for both government and the private sector to ensure there were sufficient lending opportunities around for fundamentally sound business propositions - hence this week’s meetings between the Chancellor, the Business Secretary, banks and other lenders.

I enjoyed today’s briefing which was a great chance for business people to communicate directly with a senior politician who sits on the National Economic Council. Mr Denham promised to take on board the various points made and to report back through the Chamber.

Today’s event is just one of a number of Chamber initiatives to help local businesses concerned about the credit crunch and risk of recession. Members are also being canvassed for their ideas on rebuilding confidence which will be passed on to the Chancellor for consideration in his Pre-Budget Report this winter.