Summit to discuss impact of downturn

BOLTON Council is holding an economic summit to establish the impact of the recession on the town.

The event today at the Reebok Stadium, sees senior politicians and chief council officers join business and community leaders to look at ways the public and private sector can help each other through the current economic downturn and whether there are joint measures which can be taken.

Leading players from the Greater Manchester Chamber of Commerce, Manchester’s inward investment agency MIDAS, the financial sector and many of Bolton’s main employers were also attending the meeting..

On the agenda is the local impact of the financial crisis and the support the council can offer local companies.

The government’s multi-billion pound package of measures announced last month aimed at unblocking lending to small businesses will also be discussed.

The measures come after concern that small firms were struggling in the economic crisis because banks had become reluctant to lend.

Cllr Cliff Morris, leader of the council said:  “The aim of the summit is to have an open and frank discussion on the main issues that are impacting on our town and our residents.

“We will be looking at how we can help local firms survive the downturn and prevent job losses. We will be seeking views and ideally solutions to respond to challenges that local businesses and the community face.

“We’re in the good position in Bolton where we are still at an early stage with most of our major developments so plans can be tweaked. We are well placed to meet the challenge of helping Bolton’s economy through the downturn but it is vital to get our heads together at this early stage to prepare for what may well be a difficult time ahead.”