Nick Clegg and Vince Cable praise manufacturer Ricardo during Shoreham visit
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The two senior politicians broke from their party conference in Brighton this morning (Tuesday, September 24) to examine the manufacturer’s base in West Sussex.
They toured the recently-installed Ricardo’s McLaren MP4-12C sports car engine production site and hailed the company as a prime example of UK companies thriving despite continued economic challenges.
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Hide AdDeputy Prime Minister Mr Clegg said: “It was fantastic to visit Ricardo. I was blown away by the enthusiasm and dedication of everyone there. The people I met are a real credit to not only the company but also to British manufacturing. Ricardo is a great example of British innovation.”
Mr Cable, who was equally impressed with the facilities, today used the conference to launch a major scheme to assist small and medium sized enterprises.
He revealed at conference that there will be a new business bank that will lend up to £10 billion. This is set to be financed by a combination of the private sector and partially funded from investing £1 billion of taxpayers’ money.
It will offer loans to companies that have struggled during the past few recession-hit years to gain financing through high street banks.
For full story, see this week’s Herald (Thursday, September 27).