Oral Answers to Questions

Annette Brooke Excerpts

Thursday 8th July 2010 Commons Chamber

[Mr Prisk]

Indeed, we already are. I want to stress and put clearly on the record the fact that we are not willing simply to allow the situation to continue. Small businesses are crucial to our economy. We want to ensure that banks understand that. My right hon. Friend the Secretary of State and I meet regularly with the banks. If we find that they are clearly pushing such charges up, we will make them come to see us in the Department and ensure that they understand that we are not happy and that we will act to ensure that they change their behaviour.

[Annette Brooke (Mid Dorset and North Poole) (LD)]

T1. If he will make a statement on his departmental responsibilities.

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

My Department’s responsibilities include helping to drive growth, including by rebalancing the economy; building on the strengths of manufacturing, the knowledge industries, and the science and research base; helping businesses to grow by getting rid of excessive regulation and ensuring that they can access credit; being open to trade and foreign investment; and encouraging the development of a skilled and educated labour force.

[Annette Brooke]

Does the Business Secretary share my concern that, with the ending of the cheque guarantee card scheme next year, the demise of the cheque will be hastened, affecting very small businesses and, of course, the elderly? What action, if any, can he take in conjunction with his Treasury colleagues?

[Vince Cable]

I do share my hon. Friend’s concerns. As she knows, the decision originated last June with the Payments Council, which is an independent body. The decision was based on the fact that there had been a dramatic fall in cheque use, from 11 million a day in 1990 to 3.5 million. However, the Government recognise that there are large numbers of individuals, small companies and charities for whom the cheque is an extremely important way of making transactions. The Payments Council is an independent body, but we are trying to ensure that it has alternatives in place, so that people are not greatly disadvantaged by the change.