LOCAL MP Michael Moore has underlined the urgency of the need for the Government to intervene and support the Scottish textiles industry in a meeting with the UK textiles Minister, Ian Lucas MP.
Along with the Chairman of the Scottish Cashmere Club, Ken Pasternak, Mr Moore impressed upon the Minister the need to secure Government backing for trade export insurance, increased bank lending to manufacturers, and to establish a broader package of support for the industry along the lines currently enjoyed in Italy , Spain and Portugal .
The Minister has undertaken to investigate the schemes available in other European countries and took away important information about the banking system to discuss with senior banking officials.
Commenting after the meeting, Mr Moore said: "We are at a critical moment for our local textile companies where a great deal has to be invested in producing autumn collections but cash won t be handed over by customers for many months.
"Successful local businesses are being stretched to the limit, and finding the banks and credit insurance providers totally uncooperative.
"The Minister must now act, and intervene directly to ensure that businesses are not starved of vital financial support."
"This was a constructive meeting, but the key test for the Government will be to deliver proper assistance to our local companies."
