China: United Kingdom Trade

Debate between Lord Popat and Lord Cotter

Wednesday 23rd July 2014 Lords Chamber

[Lord Popat]

The noble Lord raises an important question on the subject of visas and tourism. Tourism is our fourth-largest export earner. The number of UK visas issued to Chinese nationals continued to rise in 2013. We have issued 373,000 visas to Chinese tourists and have increased the number of students coming to the UK to the tune of 14%. We encourage Chinese students to come and study at our best universities in the UK. As regards airport capacity, which has been an issue for a long time in this House, yes, we do have a capacity issue with airlines, but I am pleased to say that I was able to receive the first chartered flight from Beijing to the regional airport in Birmingham yesterday morning.

[Lord Cotter (LD)]

My Lords, the Government recently announced that 60 new Foreign Office staff have been placed across China. Can the Minister give me an update on that? Hopefully, the numbers are increasing, the staff will be more widespread throughout China and increased language training will be part of the approach. Do the people involved have experience in business, particularly to help small businesses to trade within China?

Banks: Small and Medium-sized Enterprises

Debate between Lord Popat and Lord Cotter

Wednesday 12th March 2014 Lords Chamber

[Lord Popat]

I agree with my noble friend. We now have three different schemes for equity financing within the British Business Bank.

[Lord Cotter (LD)]

My noble friend has just said that, following the consultation, the Government will look at all options. Does this include the previous commitment to producing legislation to address this very serious issue of funding for small businesses and others?

[Lord Popat]

My Lords, as I said, we are looking at all the options. If the need arises because we are not successful by the end of 2014, I am sure that the department will look at maybe coming up with some sort of legislation to see what we can do to make the banks more transparent.

Banks: Lending

Debate between Lord Popat and Lord Cotter

Wednesday 5th February 2014 Lords Chamber

[Lord Popat]

My Lords, you cannot force a company in the free market to make an investment, but you can create the conditions for such things to happen. I am pleased to say that the conditions in this country are now pretty good for businesses to invest money.

[Lord Cotter (LD)]

My Lords, exporting is very important for this country, but can be daunting and difficult for small businesses. Will the Minister ensure, through UKTI and otherwise, that it is made easier for small businesses to actually get funding for exporting, which is an essential need for the country?

[Lord Popat]

My Lords, when I first came to this House, I set up an ad hoc committee to see what we could do to help SMEs to export more and have access to finance. The report was published in this very House, and we now have a large number of schemes, with UKTI working to help our SMEs to export more and to make funds available for exporting.

Small and Medium-Sized Enterprises: Funding

Debate between Lord Popat and Lord Cotter

Tuesday 25th June 2013 Lords Chamber

[Lord Popat]

My noble friend makes a very important point and I agree with him. In fact, when I was at an SME 20 years ago I had direct contact with my branch manager, and it was the manager who did the lending. Now, most banks have corporate offices and half the decisions are made on their computers rather than by human brains. I agree with my noble friend, but the good news is that we have set up competition within the banking sector and that the new banks—Shawbrook, Aldermore, Metro and Cambridge & Counties—all have branches with branch managers now.

[Lord Cotter]

My Lords, this point may have been made already, but it is worth making again. Does the Minister not accept that many small businesses do not know how to get different sources of funding, as there are so many that are potentially available? Specifically, what is being done proactively to let businesses know what is available out there for them to tap into? I know from running my own small business that you have very little time indeed when you are running it and trying to survive in this day and age; you do not have time to do this work. Are local enterprise partnerships and others doing this to help?

[Lord Popat]

My Lords, we are launching a tailored marketing communication campaign to increase awareness of a number of government lending schemes available to SMEs.

Small Businesses: Late Payments

Debate between Lord Popat and Lord Cotter

Tuesday 11th June 2013 Lords Chamber

[Lord Popat]

My Lords, we have a voluntary organisation, the Institute of Credit Management, which oversees the prompt payment code on behalf of the Government. We do not need a statutory organisation to bring in prompt payment.

[Lord Cotter]

When the Government place contracts with large companies in future, will they ensure that it is a requirement that those companies sign up to the prompt payment code, and that they publicise their record on the payment of bills in their annual reports?

[Lord Popat]

My Lords, the Government are doing everything possible to encourage a culture of prompt payment. As I said earlier, 75% of FTSE 100 companies have already signed up to prompt payment.