Oral Answers to Questions

Debate between Lord Vaizey of Didcot and Chris Leslie

Monday 26th July 2010 Commons Chamber

[Mr Vaizey]

That is not a matter for the National Audit Office, which examines how the BBC spends its money, but for the BBC and the BBC Trust.

[Chris Leslie (Nottingham East) (Lab/Co-op)]

Is there any real justification for not opening up the BBC accounts to the National Audit Office and the Public Accounts Committee, especially given that one of the Secretary of State’s reasons for cutting the licence fee was deficit reduction? I am not sure whether the BBC accounts would rack up against the public finances in quite that way.

[Mr Vaizey]

Forgive me, Mr Speaker, but I am not quite sure what point the hon. Gentleman is making. It is a coalition Government commitment that the National Audit Office should have full access to the BBC’s accounts by November 2011 in order to ensure value for money and public accountability.

Oral Answers to Questions

Debate between Lord Vaizey of Didcot and Chris Leslie

Thursday 8th July 2010 Commons Chamber

[Mr Vaizey]

I pay tribute to my hon. Friend and the work that he does supporting small businesses in his constituency. I certainly think that my hon. Friend the Minister with responsibility for small business would be delighted to visit them. We are looking at temporary rate relief for small businesses. I know that it is a key problem for them.

[Chris Leslie (Nottingham East) (Lab/Co-op)]

Will the Minister do what he can to encourage and, through his own Department, support the venture capital investment so needed for small manufacturing start-ups? Not only is it a problem that the capital allowance has been reduced, but access to the necessary credit and resources is problematic. Will he conduct a review on venture capital availability?

[Mr Vaizey]

Under the Budget we have set up a new enterprise capital fund, into which the Government have put £25 million. We are looking for additional private funding, but I certainly recognise the importance of the venture capital industry and venture capital funding for small businesses.