“I want to draw attention to the failure of the policies that, in the Government’s words, are supposed to be providing ‘real help now’ to families and businesses struggling with the recession. That slogan is a cruel joke to the thousands of people who have lost their jobs while this Government dither and delay.”
George Osborne MP, Shadow Chancellor of the Exchequer (2009)
In the second half of 2008, the economy of the United Kingdom officially entered recession. In response, Lord Mandelson, Secretary of State for Business, Innovation and Skills, announced an immediate and ‘new’ rescue package named Real Help Now.
This chapter reviews the Real Help Now offering, including the widely accessed Health Check product and the series of financial initiatives intended to address “cash flow, credit and capital needs of businesses”.
Chapter 12 analyses the impact of this initiative on small businesses in a credit crunched economy. A candid appraisal on accusations of delay and duplicity closes the chapter.
In the midst of a Global economic crisis, the Government’s decision to restrict rescue support to viable growth businesses is challenged.
