Adrian Bailey
Main Page: Adrian Bailey (Labour (Co-op) - West Bromwich West)Department Debates - View all Adrian Bailey's debates with the Department for Education
(14 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Prisk
This is something that we have raised with the banks. On Monday, however, I want to go further—that is when we will convene our new small business economic forum with the express intention of bringing Government, businesses and the banks together so that we can deal with these issues and start to ensure that credit is available for all businesses, large and small.
Mr Adrian Bailey (West Bromwich West) (Lab/Co-op)
The Secretary of State has rightly commented on the obligations of state-supported banks to do more to help our small businesses in the interests of the national economy. Will the Minister tell us whether the new growth fund set up by the banking taskforce and announced yesterday will have on its board a Government representative in order to influence policy decisions?
Mr Prisk
We met the banks yesterday and are perfectly willing to engage with them on how that could happen. We may well wish to ensure that the Government have a stake in that role, but as we received the recommendations just yesterday, I am sure the hon. Gentleman and the Committee that he chairs will understand that we want to examine them more closely. The new growth fund is a positive step which will deal with the gap that Rowlands identified in the case of mid-cap businesses. It is a welcome step, and the Government want to work with the banks to make it work effectively.