Oral Answers to Questions

Dennis Skinner Excerpts

Thursday 8th July 2010 Commons Chamber

[Vince Cable]

I am very happy to meet my hon. Friend to discuss that problem, which is happening all around the country. As it happens, in his constituency, I believe that nine companies have taken up the enterprise finance scheme—654 companies in Scotland have done likewise—and have drawn more than £1 million from it, but I recognise the problem. Actually, I think I met the chief executive of the bank to which I believe my hon. Friend is referring last week. I am aware of the enormous frustration in many small-scale enterprises, and I will continue to pursue the matter.

[Mr Dennis Skinner (Bolsover) (Lab)]

What help will the Secretary of State give to those small and medium-sized businesses that were hoping to take part in the building of 700 schools, including one in Tibshelf in my constituency? Does he not understand that public sector cuts equals private sector misery?

[Vince Cable]

I think that the hon. Gentleman is conflating two massively different issues. I have many responsibilities—this is a very big Department—but school building, mercifully, is not one of them. However, he raises the more basic question of bank lending. Of course, there is an enormous problem, despite very high approval rates through the banking system. I am discussing with the Chancellor how we can improve the supply of capital, and there will be a paper before the summer on the different streams that we can energise to get capital flowing into good companies.