Small and Medium-sized Enterprises: Interest Rates
Lord Flight Excerpts(1 year, 2 months ago)
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The Earl of Minto (Con)
The interest rate is a Bank of England matter. The reason why it has gone up, as we all know, is to battle inflation, which is incredibly important. Having said that, in business, financial rigour and accountability are paramount in managing a business, particularly through a growth phase. We saw insolvencies fall to quite a low level during the pandemic because of the Government’s support, and the noble Lord is right that we are starting to see the number creep up again. The Government will do all we can in providing both advice and teams to help businesses in trouble but, when it comes down to it, it depends very much on the financial viability of the business going forward.
The Earl of Effingham (Con)
My Lords, I speak frequently with small and medium-sized businesses, and I refer to my interests in the register. Can my noble friend say what the Government are doing to publicise the availability of help for the SME community?
Whistleblowing Framework
Lord Flight Excerpts(1 year, 6 months ago)
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The Earl of Minto (Con)
My Lords, at the moment the Government do not think that financial incentives to whistleblow are an appropriate way to take this review or any future interest forward.
Baroness Williams of Trafford (Con)
My Lords, my noble friend Lord Flight stood up to ask a question, but I do not think the Minister heard it.
Lord Flight (Con)
My Lords, which is the bigger issue, the underpayment of pensions or the overpayment of pensions?
Baroness Williams of Trafford (Con)
I think my noble friend may want to ask that on the pensions Question.