Oral Answers to Questions Debate
Full Debate: Read Full DebateDiana Johnson
Main Page: Diana Johnson (Labour - Kingston upon Hull North and Cottingham)Department Debates - View all Diana Johnson's debates with the Department for Business, Energy and Industrial Strategy
(6 years, 6 months ago)
Commons ChamberI have set up a taskforce bringing together small and medium-sized businesses, the Government, local government and trade unions to assist with the impact on small and medium-sized enterprises and the supply chain. The taskforce has delivered a range of supportive measures, including assistance from Her Majesty’s Revenue and Customs for those experiencing difficulties and more than £900 million of support from UK lenders.
I thank the Secretary of State for his answer, but, with 30,000 small firms thought to be owed money by Carillion due to late payments and fees, will he look at the idea of project bank accounts that hold money in trust in ring-fenced bank accounts to make sure this situation does not arise again? The Specialist Engineering Contractors Group wants Britain to follow what is already happening in Australia, where such project bank accounts are used in all large public and private building contracts.
I will indeed look at that, and it has been one of the recommendations of the taskforce. It is important that we learn all the lessons and apply them quickly, and this is one such suggestion.