Oral Answers to Questions

Deidre Brock Excerpts

Thursday 30th November 2023 Commons Chamber

[Kemi Badenoch]

I think the hon. Gentleman might be talking about something that happened three years ago, which we fixed. He talks about the export support service website. Businesses have actually been praising it. [Interruption.] Businesses have been praising it; they very much have been. We have an expert toolkit, which has been developed by business and trade officials. What is interesting is that all he says is that Labour has a plan to remove export barriers. We have actually been removing export barriers. Labour talks about a plan with no detail. No one is taking it seriously at all. The Conservative party is the party that represents business in the House of Commons.

[Deidre Brock (Edinburgh North and Leith) (SNP)]

2. What recent progress her Department has made on bringing forward legislative proposals on reform of audit and corporate governance.

[The Parliamentary Under-Secretary of State for Business and Trade (Kevin Hollinrake)]

We remain committed to reform. Significant reforms have already been delivered to the Financial Reporting Council to strengthen its capabilities and drive up audit quality.

[Deidre Brock]

The Institute of Chartered Accountants of Scotland has branded the Government’s decision to leave the audit and governance reform Bill out of the King’s Speech as a lost opportunity and a huge blow to the interests of UK businesses and the public. The Government have been promising the Bill since 2021. Will they reconsider that backward step and make the UK’s corporate regulatory framework fit for purpose in the 21st century?