DED Minister stands by Sefton bailout decision

The Economic Development Minister has defended the Enterprise Act saying it’s a vital and versatile piece of legislation.

John Shimmin has been explaining the purpose of it after it was used to give a £1.3 million loan to the struggling Sefton Group.

He revealed in the House of Keys that under the act his department can give a maximum grant of £99,999 without the approval of Treasury to those businesses which are expected to help grow the economy.

Mr Shimmin says he still believes the right decision has been made:

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