Interest Rate Swap Derivatives

Debate between Guto Bebb and David Heath

Thursday 24th October 2013 Commons Chamber

[Guto Bebb]

That is an important point—that the banks are possibly playing for time—which I think will be touched on in other speeches in this debate. As for the ability of businesses to try to get compensation through litigation, it is important that they take action to protect their positions. The redress scheme is a step forward. It is not working perfectly, but I would still advise businesses to protect their position from a legal point of view.

[Mr David Heath (Somerton and Frome) (LD)]

Will the hon. Gentleman give way?

[Guto Bebb]

I will take a final intervention for the time being.

[Mr Heath]

I thank the hon. Gentleman for giving way and for his work. He said earlier that he could not name his constituents or the bank involved, but I will certainly name Chris and Angela Hays, whom I am trying to help, and the Royal Bank of Scotland. Is it not the case that we have seen a double whammy? We have seen a big bank using a scam on its customers and then using every device to prevaricate and procrastinate to avoid paying the money that those businesses need to survive.

[Hon. Members]

Hear, hear.

Oral Answers to Questions

Debate between Guto Bebb and David Heath

Thursday 24th January 2013 Commons Chamber

[Mr Heath]

I will certainly be delighted to meet my hon. Friend to discuss these matters if that would be helpful, because I understand entirely the concerns of farmers in his area, which are shared by people across the country who face the devastating scourge of bovine TB.

[Guto Bebb (Aberconwy) (Con)]

10. How his Department plans to encourage innovation in the dairy industry.

[The Minister of State, Department for Environment, Food and Rural Affairs (Mr David Heath)]

We are already taking action to support innovation and to help the industry achieve its potential. I have launched a £5 million RDPE—rural development programme for England—dairy fund to boost competitiveness and help businesses grow. I am working with UK trade international experts to develop a dairy exports summit, offering support to businesses that see export as a route to growth. We are also putting £2.5 million into research on sustainable proteins for feeding livestock, including 15 projects for the dairy sector.

[Guto Bebb]

I thank the Minister for his response. Will he join me in celebrating the work of the Tesco dairy centre of excellence, a partnership with Liverpool university located on a working farm in the Wirral? The centre ensures that best practice guidelines are offered to the supply chains for Tesco, many of whom are located in Wales. It is a great example of how the supply chain can work for the benefit of the industry.

[Mr Heath]

I welcome and encourage all such beneficial collaborations. They can serve to optimise the input costs, efficiency, competitiveness and ultimate profitability of our farmers, all of which are key to their long-term future.

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[Guto Bebb (Aberconwy) (Con)]

T2. One of the largest employers in my constituency is Edwards of Conwy, the makers of the finest sausages in the United Kingdom. It has recently won a significant new export order to Malaysia. What work can the Department do to ensure that this country’s fantastic food producers get as much support as possible to export our product?

[Mr Heath]

The one controversy that I will not enter into is the question of who makes the best sausages in the country, because it will never end. I congratulate Edwards of Conwy on its success and entrepreneurism. Export is a key way of creating growth and I am committed to supporting our farming and food and drink sectors in doing so.