Small and Medium-sized Enterprises: Interest Rates Debate
Full Debate: Read Full DebateDepartment: Department for Business and Trade
Earl Attlee
Main Page: Earl Attlee (Conservative - Excepted Hereditary)Department Debates - View all Earl Attlee's debates with the Department for Business and Trade
Small and Medium-sized Enterprises: Interest Rates
Earl Attlee Excerpts(1 year, 3 months ago)
Lords ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
The Earl of Minto (Con)
My Lords, it is an extremely good point. If one goes back to before the financial crisis in 2008, when the big five really dominated, there has been nothing short of a revolution in business lending since then. In fact, last year some 55% of all SME borrowing came from challenger banks—at-base banks and specialist SME banks such as OakNorth and Hampshire Trust Bank. The whole structure has changed in the last few years, and my guess is that some of the more traditional banks are feeling the pain in this area.
Earl Attlee (Con)
My Lords, is the Minister aware that the UK hovercraft industry is experiencing serious difficulties in obtaining performance bonds to cover stage payments in the construction of a hovercraft? If the answer is not in my noble friend’s brief, can he write to me?
The Earl of Minto (Con)
I was not aware that there was this trouble in the hovercraft industry. My guess is that it is something to do with the balance sheet, but I will certainly write to him and we will follow that one up.