Oral Answers to Questions

Alex Cunningham Excerpts

Thursday 23rd January 2014 Commons Chamber

[Jenny Willott]

I am sure that the hon. Lady will join me in rejoicing at the fact that the FTSE 100 now has only two companies with all-male boards. A couple of years ago, the figure was 24 boards, so there has been significant progress. To increase the number of women going on to boards, we are doing everything we can to improve the pipeline, which means that more women below board level can get the support, mentoring and advice that they need to make themselves ready for and to get into board positions. We are doing what we can to increase the number of women on boards and to increase the flow of women, so that we can bring new blood on to the boards of Britain’s businesses.

[Alex Cunningham (Stockton North) (Lab)]

7. Whether net lending to businesses by banks has risen in any of the last 24 months.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The answer is yes. The most recent data from the Bank of England show that net lending to small and medium-sized enterprises was positive in March, June and November, and the Bank of England’s most recent “Trends in Lending” and “Credit Conditions” reports show that confidence is beginning to return, helped by interventions such as the British business bank.

[Alex Cunningham]

According to the chamber of commerce, unemployment in the north-east has gone up by 1,000 in the past quarter and by 16,000 in the past year, of whom 13,000 are women. We agree that small and medium-sized businesses should be driving the economy up and unemployment down, but I am told that many in my region see confusing Government schemes and the banks as failing to give them the help and resources they need. What specific things will the Secretary of State do to help people in the north-east and let our people share in the so-called upturn?

[Vince Cable]

Anybody who looks at yesterday’s employment figures will realise that we are in a very positive trend on employment—far in excess of what was predicted. Specifically in relation to the north-east, the hon. Gentleman will know that the main mechanism the Government use to support jobs and companies is the regional growth fund, and I think that the north-east has received more regional growth fund support than almost any other part of the country.