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Public Expenditure

The Financial Secretary acknowledged in his statement that the Government expect the construction sector to be disproportionately affected by the economic downturn. In fact, as I think he would acknowledge, it already is. Shortly before he arrived I raised the issue with the Under-Secretary of State for Wales. I pointed out that in my constituency construction companies are finding it difficult to obtain credit because of a blanket policy on the part of banks to refuse that credit. I was very encouraged to receive the response from the Under-Secretary that the Government are now looking carefully at Conservative proposals for a national loan guarantee scheme. Is that indeed the case and when does he propose to make a further statement?