Andrew Bridgen
Main Page: Andrew Bridgen (Independent - North West Leicestershire)Department Debates - View all Andrew Bridgen's debates with the Department for Education
(10 years, 10 months ago)
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Vince Cable
Of course, there is a continuing credit problem for many small companies. That is very clear. There is a very different pattern among the significant banks. Lloyds is greatly expanding its lending, as is Santander. Some of the new banks, such as Shawbrook and Aldermore, are beginning to make an impression. That has been cancelled out by RBS, although its new management have indicated that they wish to expand its net lending considerably. The business bank is beginning to make a significant impact. It is not a rebadging. It is already out in the market, supporting new forms of non-conventional business finance.
Andrew Bridgen (North West Leicestershire) (Con)
Business intentions rely on confidence, and with business confidence at a 22-year high, figures from the Office for National Statistics show that business investment is up 8.5% on the previous year. Does that not show that business is not only confident about the economy, but about the policies of this Government?
Vince Cable
Yes, there is a high level of confidence, and it is reinforced by fact. Indeed, the output and spending figures are reinforcing the trend that the hon. Gentleman describes. There is, however, a continuing problem regarding credit to the small and medium-sized business sector. We are not complacent about that, and the interventions we are making will help.