The economic crisis is affecting the whole country. In Macclesfield, we have seen a large increase in unemployment and the recent news from Cheshire Building Society about the planned loss of 250 jobs is another sad blow. It’s vital to get the local economy moving again.

To do that, we clearly need the right policies in place across the nation. That’s why I welcome the measures from the Emergency Budget that show that Britain is “open for business”, because job creation must come from a growing private sector. Reducing Corporation Tax will give local employers greater confidence to invest and giving new businesses a break on employer National Insurance Contributions for the first ten employees hired will be important in regions, like the North West.

As a Special Adviser in the Treasury during the last Conservative Government, the most important lesson I learned is that “you can’t spend what you haven’t got”.  It’s a lesson that needs to be relearned as steps are taken to reduce the deficit. The Budget will be challenging to deliver, but, given the size of the inherited deficit, we must take the steps needed to get our ailing economy back to full health. As a newly elected member of the Treasury Select Committee, I will seek to play my part in ensuring that we achieve that goal.

Action is also being taken in Macclesfield. A business forum has been set up to determine what additional steps should be taken both nationally and locally to help strengthen our economy. It will build on the ongoing work to develop an economic masterplan for Macclesfield.

The meeting will bring together leading local businesses, the Chamber of Commerce, the Guild and Chamber of Trade and other interested parties.

It will be held at Macclesfield Town Hall from 7.45-9.30am on Friday 23^rd July. All those interested in attending should call 01270 375162.

I will be co-chairing the meeting with Jamie Macrae, Cheshire East Council’s Cabinet member responsible for Prosperity. We are keen to involve local businesses in shaping an action plan that will more fully realise Macclesfield’s great economic potential.