MP Presses Government on Insurance Cases
September 9, 2003 12:00 AM
Far North MP and Liberal Democrat Spokesman on Scotland, John Thurso, today urged the Secretary of State for Scotland to act to help small firms who have suffered massive increases in Employers Liability Insurance.
He said:
"Is the Secretary of State aware of the recent Federation of Small Businesses survey, which reported that 25% of employers had difficulty obtaining insurance cover, that 20% had reported a doubling or more in their premiums and 60% reported a drop in profitability. When will the Government give real assistance to this vital sector?"
Responding, the Secretary of State acknowledged that this was a real problem for many small businesses but passed the blame to markets.
"It is clearly for the market to provide solutions in relation to insurance, but it is something about which the Government are concerned".
Speaking after the debate, John Thurso said:
"I recently conducted a survey of businesses in the constituency which showed even more serious figures than those in the Federation of Small Businesses survey. Businesses have ceased trading because they are unable to get insurance and for many others, the costs have spiralled beyond control. For small businesses this situation is so serious that it is quite wrong for the Government to wash their hands of the problem by simply blaming the markets. Small businesses form the backbone of the economy in the Far North and the Government must realise that they have a duty to intervene in this clear case of market failure. I will continue to press the Government to take action."
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