Digger company JCB was amongst the 119 successful bids for the £1.4bn Regional Growth Fund, leaving puzzled hacks wondering why a company which had seen profits jump 150% to £235m needed a subsidy from the taxpayer. Scrapbook cannot resist speculating whether donations to the Conservative Party totalling more than £4 million have any bearing on the matter.
Adding salt to the wounds of small businesses throughout the region, during the same announcement it emerged that the North Staffordshire Chamber of Commerce had been snubbed in its bid for funds to provide interest-free loans to small businesses — despite research indicating that companies employing less than 100 people create the most jobs.
Regular readers of Scrapbook may recall that JCB was also the only British company which was namechecked by David Cameron in his speech to Conservative Party conference in Manchester.
What’s government for if you can’t help your millionaire friends out, eh?