Brown Seeks EU Small Business Fund

PM looks for £12 billion EU Business Fund

PM looks for £12 billion EU Business FundIt has emerged this afternoon that Gordon Brown is flying to Paris for an emergency summit of EU leaders in an attempt to stem the problems arising from the current economic situation.

The PM will be meeting the leaders of France, Germany and Italy along with head of the European Central Bank, Jean-Claude Trichet, and President of the European Commission José Manuel Barroso.

The meeting, called by French President Nicolas Sarkozy, comes the day after the $700billion Wall Street "bail out" and after comments by the French finance minister that France risks a second successive quarter of negative economic growth.

Gordon Brown’s focus is on a £12 billion fund to help sustain Britsh Small Business whilst economic conditions still remain challenging.

Speaking outside Number 10, Gordon Brown said:

“We have got to show how we can do more in Britain and across Europe to help small businesses, as well as households, through what is a difficult economic time but where I believe Britain can lead the way out of the difficulties.”

Whilst the British economy is not facing quite the same problems as the US, the PM seems to be securing a safety net for UK SMEs should they need it, in order that staff are paid and SMEs can continue business.

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