Initiative could create thousands of borough jobs

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I WAS pleased to see the introduction of the New Enterprise Allowance.

This initiative is a significant part of what is needed to get our economy back on track.

The coalition is, rightly in my view, taking the tough decisions necessary to sort out the financial mess the UK was left in and to restore confidence.

But that is only half the job. Driving job creation is equally as important.

The New Enterprise Allowance will help to create up to 40,000 new businesses by 2013.

It will help all those unemployed people in North Tyneside who want to start their own business.

It will be available to people who have been claiming Jobseeker’s Allowance for more than six months and will provide access to business mentoring and offer financial support of up to around £2,000, including a weekly allowance for up to 26 weeks and access to a start up loan.

In order to become eligible to receive the financial support, applicants will have to demonstrate that their business idea is viable.

It is also right that we do all we can to support growth and job creation and that is exactly what the New Enterprise Allowance is designed to do.

MARTIN CALLANAN

North East Conservative MEP