Oral Answers to Questions

Chi Onwurah Excerpts

Thursday 6th September 2012 Commons Chamber

[Vince Cable]

I thank my colleague for reminding me of that. It is a very positive report, and it is striking that it puts such emphasis on the fact that we have very flexible labour markets, which is one of the reasons why the private sector has been able to take on so many more people. That is publicly appreciated by many of the large manufacturing companies as well as by SMEs.

[Chi Onwurah (Newcastle upon Tyne Central) (Lab)]

Two and a half years in, this Government still offer no significant support for small, innovative, high-growth businesses, which are exactly the kind that we need to get us out of this double-dip recession made in Downing street. The National Endowment for Science, Technology and the Arts has called on the Government to expand the small business research initiative. Started by Labour, it uses Government procurement to help to turn innovative small businesses into world beaters—we support that call. Is it any wonder that business confidence is low when the Government plan to spend 10 times more on subsidising local weekly bin collections than on innovative small business procurement? Can the Minister tell me whether they will now change—

[Mr Speaker]

Order. I am sorry but the questions and answers are far too long today. A quick sentence and we are done.

[Chi Onwurah]

Will the Government now change course and bring forward proper support for small, innovative businesses?

[Vince Cable]

Small, innovative businesses are absolutely crucial, and the CBI, in particular, has focused on what it calls the “gazelles” in that space. One specific initiative that we introduced—I launched it—and which the hon. Lady may not be aware of is the growth accelerator, which is a system of providing high-quality coaching for 26,000 small and medium-sized enterprises of exactly the kind she has described. All our evidence so far suggests that it is appreciated and is working extremely well.