The general election result of a hung Parliament is a “worst case scenario” for local firms – according to the Caerphilly Business Forum.
As Conservative leader David Cameron and Liberal Democrat leader Nick Clegg continue discussions to form a new government, the business association’s vice chairman Andrew Diplock said the last thing that was needed was political bickering.
Mr Diplock, who is also commercial director of utility and environmental consultancy firm UES, said: “The recession has been particularly tough on SMEs in South Wales and business owners have had to batten down the hatches to enable their businesses to ride out the storm.
“This election result is the worst case scenario for small businesses; we were looking for a strong and stable new government to sustain signs of recovery. Instead we have further confusion and the prospect of politicians bickering over power, with no progress being made and even the threat of another election.
“Whatever the make-up of the new UK government, it cannot afford to ignore the pressing environmental and economic pressures that need to be addressed in Wales quickly and decisively.
“The answer has to be in supporting the private sector through improved credit flow and funding for small and medium businesses, to encourage sustainable products and services and to ensure the public sector reduce waste and inefficiencies in order to develop a more commercial foundation.”