Oral Answers to Questions
Debate between David Simpson and Anna Soubry(8 years, 9 months ago)
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Anna Soubry
Absolutely. It is incredibly important that an organisation of the CBI’s standing is backing the Stronger In campaign. Indeed, we hear an increasing number of voices from business standing up for British companies, and not just saying how bad it will look if we leave—pointing out that what Brexit offers is very little and very confusing—but making the positive case for our staying in a reformed European Union, which is in our better interests.
David Simpson (Upper Bann) (DUP)
Further to an earlier question, the Minister will know that we have many young entrepreneurs with innovative ideas in our universities throughout the United Kingdom. What more can the Government do to encourage them to stay in this country and produce their goods?
Oral Answers to Questions
Debate between David Simpson and Anna Soubry(8 years, 10 months ago)
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David Simpson (Upper Bann) (DUP)
Does the Minister agree that the practice of cash retention, especially within the construction industry, should cease?
Anna Soubry
It was a great pleasure to take part in last week’s debate, in which the hon. Gentleman made some very important points. We are having a review, but it is a lengthy one, and he knows that I have undertaken to do everything I can to bring that forward and see that we ensure that we take a modern look at an outdated practice.
Business Transactions: Cash Retentions
Debate between David Simpson and Anna Soubry(8 years, 10 months ago)
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Anna Soubry
Never. I can absolutely assure the hon. Lady that I take the issue very seriously and know that we need to make progress. There are reasons why we would want some sort of retention, but not in a way that is onerous, particularly for small businesses. As I said earlier, Simon Bingham came to see me and gave me real-life examples of how some of the bigger companies effectively use retentions for their cash flow. The money can sit with them for year after year, and the small business takes a serious hit.
David Simpson
I accept what the Minister is saying, and it will be of some comfort to some companies. However, she will surely agree that large companies should not be allowed to hold on to money and use it to their own advantage to build their own businesses while small companies suffer.
Anna Soubry
I absolutely agree with the hon. Gentleman. What happened yesterday with the Groceries Code Adjudicator has already been mentioned. I am grateful for the comments of the hon. Member for Strangford (Jim Shannon) on that. It was a very important day to see the Groceries Code Adjudicator not holding back, not pulling any punches, and absolutely making it clear that Tesco had flagrantly breached the groceries code in a way that was completely unacceptable. That will have consequences for Tesco, although it will not be subject to a fine because the provisions have only just come in. I pay tribute to the Groceries Code Adjudicator. Bigger companies have got to learn and understand that none of us will tolerate their not playing fairly and properly, especially in relation to smaller businesses.
Our definition of smaller businesses, which is accepted by everybody, is any company that employs fewer than 250 people, so they can be quite large small businesses, not just sole traders who might employ one or two people. My officials are keen for me to say that the Government tell various agencies that when they handle taxpayers’ money, they must follow guidance and not engage in poor practices. It is not mandatory, but we provide subtle hints and nudges. Apparently the Highways Agency does a good job, but not everybody does, so there is much more work to be done. I undertake to take the matter forward with my officials to see whether we can make progress.
Good points have been well made today. Such practices must be brought into 2016. We must make sure we do the best thing by our small businesses.
David Simpson
We can all sympathise with the companies in their difficulties with banks and so on, but sympathy does not get the job done. That is what the companies tell me when I meet them. I can go on to the next case or deal with another constituency issue, but they want action. I am grateful for what the Minister has said thus far, and I trust that the Government will deliver on it.
Anna Soubry
I could not have put it better. I will definitely see what progress we can make. I am happy to continue to work with the hon. Gentleman and with the hon. Member for Oldham East and Saddleworth to try to sort this out once and for all and as soon as possible.
Question put and agreed to.