Yesterday, Chris Aylett, CEO of the MIA, met with Ian Pearson MP and pressed home several issues raised by members recently. The most important was an urgent request for the Government to improve the knowledge of the banks in working quickly on delivering the financial schemes recently set up. Several members had criticised the knowledge and ability of individuals in the banks they had approached, and the Minister was made fully aware of the weakness.
He assured the MIA CEO that this was a matter of urgent importance which he would work to resolve.
In addition, Chris Aylett encouraged him to widen the extent and value of R&D tax credits urgently, whilst at the same time, focus on reducing their complexity for small businesses; he urged the Minister to focus on financial support offered through UK Trade & Investment for overseas business development for the small business and cut out wastage and ineffectiveness within the scheme, particularly in the regions where they compete with one another to no benefit of the industry. The Minister encouraged the MIA to continually maintain contact with his Department (BERR), saying that they are “continually looking for ideas which can immediately improve the business climate. This is the time when Government must proactively move quickly to stimulate the market – and we look to trade associations, like the MIA, to give us ideas and directions for us to study and act upon where appropriate”.
Chris Aylett said after the meeting “we continue to be very active in our efforts to keep Government aware of the difficulties our members are finding. It is encouraging that Ministers are so accessible at present, to leading trade associations, where we represent the views of a significant number of members in our business community. The market place can really only effectively be stimulated by significant activity with the public purse – and I am determined that the motorsport industry, and our members, must not be overshadowed by apparently larger and more impactive industries. We are doing all we can to make a big noise in Government and so help all in our industry benefit”.
