Small Businesses: Finance

Debate between Baroness Wilcox and Lord Bishop of Exeter

Thursday 26th January 2012 Lords Chamber

[Baroness Wilcox]

I thank my noble friend for his question. The answer is: yes, I do.

[The Lord Bishop of Exeter]

Is the noble Baroness aware that in a county such as Devon, at the heart of the rural economy are a host of small and micro businesses? Is she further aware of the particular challenges facing small, rural businesses as they try to raise start-up capital and money for ongoing investment at this time? Will she gave an assurance that the various programmes that she mentioned, as well as local enterprise partnerships, are properly weighing the needs of rural businesses compared with those in more urban areas?

[Baroness Wilcox]

The right reverend Prelate makes a very fine point. As he knows, I come from Devon. All the banks are being made aware of the fact that not everyone comes to them with the same case. Banks have heard so much criticism since the Government took office that they are very sensitive to the need to make sure, certainly in rural areas, that they are seen to be listening sympathetically to every case.

Regional Development Agencies

Debate between Baroness Wilcox and Lord Bishop of Exeter

Tuesday 21st June 2011 Lords Chamber

[The Lord Bishop of Exeter]

My Lords, I note that the Government’s stated objectives are to maximise receipts in order to create best value for the taxpayer and to create maximum long-term value for the economy, presumably the local economy. Can the Minister tell us how and by whom the second objective of long-term value will be evaluated?

[Baroness Wilcox]

All sorts of arrangements are being made, some of which are not yet complete. We will make an announcement soon on some of the remaining land and property assets that have not yet been disbursed. We also have venture capital funds that are being transferred to BIS. Investment decisions will remain sited in the regions and funds will be reinvested for the benefit of the regions.

Citizens Advice Bureaux

Debate between Baroness Wilcox and Lord Bishop of Exeter

Tuesday 8th February 2011 Lords Chamber

[Baroness Wilcox]

Proposals for legal aid reform are, as the noble Baroness knows, a matter for the Ministry of Justice, which is currently consulting on Lord Justice Jackson’s recommendations. It will make some announcements on this fairly soon.

[The Lord Bishop of Exeter]

My Lords, I declare an interest as the patron of Exeter CAB. I was interested that the noble Baroness talked about the need for value for money. Could she go further and describe the mechanisms that the Government have in place for assessing the respective value of services delivered through CABs, which in the past have been judged excellent, and those services offered through other media?

[Baroness Wilcox]

With the local authorities, consultation happens at all times and at all levels to make sure that money is being as well spent as possible. One of the things that we try to emphasise to local authorities is that the voluntary sector is enormously good value for money. This is one of the reasons why these bureaux have been so successful, manned as they have been for so many years by volunteers—since 1939, I think, or 70 years continuously. They certainly are to be congratulated.

Regional Development Agencies

Debate between Baroness Wilcox and Lord Bishop of Exeter

Wednesday 17th November 2010 Lords Chamber

[Baroness Wilcox]

We have appointed 24 LEPs, others are coming through and very interesting combinations are coming together. The partnerships are local and are working extremely well, so I do not think that we are doing too badly. It is worth remembering that, when the Liberal Democrats and Conservatives talked to businesses before the election, we were told over and over again that the RDAs were doing no good job whatsoever and that, the sooner they were gone, the better.

[The Lord Bishop of Exeter]

Is the Minister aware of the way in which emerging LEP arrangements in the south-west seem likely to separate the great city of Plymouth, which she will know well, from much of its economic hinterland and its travel-to-work area in south-east Cornwall? This is of deep concern to the private sector, on which so much of our economic health depends. What guidance will be given to the new LEPs to ensure effective, wider co-operation between them?

[Baroness Wilcox]

The LEPs are being given a lot of help and guidance. The right reverend Prelate is right, as I come from Plymouth and live in Cornwall. Under the previous Administration, we were being run from Bristol, whereas Plymouth is right on the edge of Cornwall, as the right reverend Prelate knows well. The LEPs will make these arrangements between themselves and the arrangements will work because they are local. Local people are getting things right for themselves locally. We will assist them in any way that we can.