Oral Answers to Questions

Debate between Deidre Brock and Kevin Hollinrake

Thursday 30th November 2023 Commons Chamber

[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?

Oral Answers to Questions

Debate between Deidre Brock and Kevin Hollinrake

Thursday 14th September 2023 Commons Chamber

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

14. Whether she has had recent discussions with (a) Cabinet colleagues and (b) the Scottish Government on support for Scotland’s hospitality sector.

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

As the hon. Member will be aware, hospitality support is devolved. We continue to provide energy support via the energy bills discount scheme, benefiting hospitality businesses across the UK. I would be happy to meet her and any of her colleagues to see how we can help hospitality businesses across the whole UK.

[Deidre Brock]

That is excellent to hear, because the hospitality sector plays a crucial role in Scotland’s economy, but it has consistently been let down by the UK Government, who repeatedly fail to support the industry with the unique challenges it faces. Businesses across Scotland are grappling with inflationary pressures, labour and skill shortages and the ever-increasing complexity of trading rules with 27 countries we once traded with freely. Why will the Minister not accept that Brexit lies at the heart of these problems?

[Kevin Hollinrake]

If the hon. Lady looks again, she will find that the Scottish Government lie at the heart of these problems. In England, all eligible businesses can get 75% relief on their rates, subject to a cap of £110,000, while in Scotland, rates relief is available only to small businesses and could be as low as between 25% and 0% for individual properties with rateable values from £15,000. There is far more support available for English businesses than for Scottish businesses. I think she should go back and look again at the facts.

--- Later in debate ---

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

T3. Recent figures show that small businesses in the UK are owed more than £32 billion in late payments. When coupled with a 40% rise in energy costs and other inflationary pressures that I mentioned before, that is making running small businesses in my constituency impossible. On Tuesday, the EU set out its SME relief package, which will help to tackle the problem. What is the Minister doing to combat late payments for SMEs?

[Kevin Hollinrake]

The hon. Lady raises an important point. That is why we launched a payment and cash flow review earlier this year, which is due to report very shortly. We are ambitious to make sure that small businesses get paid more quickly through putting more pressure on larger companies, the results of which will be announced very shortly.