Ann McKechin
Main Page: Ann McKechin (Labour - Glasgow North)(12 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text
Mr Willetts
The coalition is keen to see more of these university technical colleges. They are an excellent way of linking universities and schools, and I am sure that his eloquent bid will have been noted.
Ann McKechin (Glasgow North) (Lab)
Given that UK companies are sitting on some of the highest levels of cash reserves of any western nation, what steps will the Secretary of State’s Department take to release those funds for the much-needed investment in British industry?
Vince Cable
Perhaps I should say that because of the problem of large piles of liquidity in the big corporates—this is not a new problem: it has been building up over the last decade—I asked Tim Breedon, who was formerly the chief executive of Legal and General, to look at practical ways of dealing with it, such as building up supply chain finance and new forms of trade credit. It is a serious problem, but we need business to invest, and the cash is there in many companies.