Business of the House

Barry Gardiner Excerpts

Thursday 20th October 2011 Commons Chamber

[Sir George Young]

My hon. Friend is right. Ever since the 1930s we have had the so-called Macmillan gap, which is the absence of secure capital funding for small and medium-sized enterprises. Other countries, such as the US, have bonds that are available to small companies. Credit easing, more details of which will be available in the autumn statement, has as its objective not just helping SMEs to provide growth and employment but creating a new market in capital for them by possibly generating a new market in bonds.

[Barry Gardiner (Brent North) (Lab)]

Six hundred and fifty young people from all parts of the world were stunned by the sudden closure of the TASMAC London business school. Many of them had been asked to pay up front their fees not just for one year but for the full three years, and the company has now sought to go into liquidation. I have asked for an urgent meeting with the Minister for Immigration, because the Home Office insists that those young people have only 60 days to find a new course, pay new fees and establish their credibility as students in this country again. They have been victims of what many believe to be a serious fraud, and the Government need to treat them as such. Will the Leader of the House ensure that that will be done?

[Sir George Young]

I am sure the hon. Gentleman will support the Home Office’s work to close down bogus colleges. I have great sympathy with those who find themselves in the position he describes, and I will contact my hon. Friend the Minister for Immigration to see whether there is any flexibility in the situation.