Gosport MP Caroline Dinenage has highlighted the importance of the British retail industry and called upon the Government to provide greater assistance to the sector, as she took part in a debate in Parliament today.
In the wake of the Portas review into the future of high streets along with the growing popularity of online shopping, Caroline advocated for greater support of the retail sector in light of difficult trading conditions.
Caroline said:
"The Government needs to take more action – if you consider the amount of financial support given to the banking industry that employs one million people – the retail industry employs four times that.
The importance of regenerating the retail sector can't be understated; this industry makes up nearly 15% of total employment and is crucial to the resurgence of our local economy. Similarly, it is just as vital to our national economy, generating almost 11% of GDP."
Caroline also championed the growing number of new independent businesses that are coming to the Gosport peninsular, defying the downturn and thriving largely thanks to entrepreneurial talent and the backing of the whole community.
She added:
"I understand too well that business, like life, is not always plain sailing, where businesses in my Gosport constituency are continuing to thrive is a testament to their hard work and the support of the entire community."
Caroline's call for greater support continues her work in promoting the Gosport peninsular as an excellent place to do business and comes off the back of £110,000 Town Team funding and several new shops opening on Stoke Road in recent months.