Small and Medium-Sized Enterprises
Debate between Lord Cotter and Lord Marland
Lord Marland
The word is “restoring” the economy. We have inherited a significant problem—I am talking about the previous Government—and we need to be careful not to get too political. Small business is at the heart of what we are trying to do. On a serious note, it is clear to me that all of us in this House want to achieve dynamism in the small business community. In fact, I am extremely grateful for the noble Lord’s Question because today we have published Best-Practice Guideline: SME Finance which sets out ways and options available relating to this critical subject. I do not want to go on too long, but there is a lack of confidence in business that banks will give finance. The banks have to look at themselves and consider that they are turning the screws on successful businesses too tightly and government have to work hard with them to make sure they get the finance.
Lord Cotter
Does the Minister agree that we need to continue with increasing competition within banking in the country, have greater transparency and more locally focused initiatives to lend to SMEs, as happens in the USA and Germany, for example?
Lord Marland
Transparency in banking and increasing its scope and width by setting up new banks is absolutely fundamental to getting competitiveness into the banking system, which does not look very competitive at the moment. We have a range of schemes—I could go on forever. I will start with the enterprise capital fund, because it was started by the previous Government, which shows that all Governments are active. We have put another £200 million into it recently. We have the regional growth fund, with £1.4 billion, which will help small businesses in the regions, which I think is the noble Lord’s interest. There are many initiatives which I am happy to be questioned about.
Employment: Science and Technology
Debate between Lord Cotter and Lord Marland
The Parliamentary Under-Secretary of State, Department for Business, Innovation and Skills (Lord Marland)
My Lords, the Government have a range of activities aimed at encouraging young people into science and technology careers. This includes funding the Science Technology Engineering and Mathematics Ambassadors programme and the finals of the National Science and Engineering Competition at the Big Bang Fair. We also support the Careers Profession Alliance to improve training for careers professionals to ensure that young people have access to high-quality guidance.
Lord Cotter
I thank the Minister for that Answer. There is still a very big issue here when it comes to young people and careers advice and guidance. Does the Minister agree that we should have far more face-to-face help for young people? Many need encouraging to go into manufacturing and technology. Would he agree that this Government need to emphasise this face to face, rather than by looking at computers?
Lord Marland
I naturally agree with the noble Lord that face-to-face careers advice is very important. That is why we have started the careers advice programme and why we have these ambassadors throughout the country. However, we have to start at the very bottom. I am very grateful to my noble friend Lord Baker of Dorking, who started the university technical colleges, 50 of which are about to be rolled out in the next five years. It is an incredibly exciting new endeavour, focusing particularly on skills from the engineering and mechanical training point of view, which has not been done for many years.