Corporate Insolvency and Governance Act 2020 Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Baroness Jones of Moulsecoomb
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Corporate Insolvency and Governance Act 2020
Baroness Jones of Moulsecoomb Excerpts(4 years, 3 months ago)
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Lord Callanan
Again, we debated these matters extensively during the passage of the legislation. We are satisfied that monitors are appropriately regulated and that their independence is guaranteed. However, we will keep all these matters under review.
Baroness Jones of Moulsecoomb (GP) [V]
My Lords, the Government acted quickly in the pandemic in giving grants and loans to some small businesses. However, those businesses are now coming out of the furlough period, having to pay rent and staff, and might have exhausted their reserves. Have Her Majesty’s Government thought about creating an equity fund to help them survive?
Lord Callanan
I thank the noble Baroness for her question. We are aware of proposals for equity investment. For some companies, further debt might not be the right answer. As always, the private sector should be the first port of call, but we will keep the policy under review and will rigorously test any proposals for value for money.