Ian C. Lucas
Main Page: Ian C. Lucas (Labour - Wrexham)Department Debates - View all Ian C. Lucas's debates with the Cabinet Office
(10 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Ian Lucas (Wrexham) (Lab)
1. What assessment he has made of the level of business investment by banks in Wales.
The Secretary of State for Wales (Mr David Jones)
Recent Bank of England data show that the availability of credit to businesses, including small and medium-sized enterprises, has increased significantly across the United Kingdom.
Ian Lucas
Businesses in Wrexham tell me that the biggest barrier to growth is the lack of availability of finance. Today Barclays has talked of more redundancies and more bankers’ bonuses. Will the Secretary of State support me by establishing a regional bank for Wales which will be attuned to the local economy, and which will provide the finance for business that will enable the local economy to grow?
Mr Jones
The proposal for a development bank for Wales was floated recently by Professor Dylan Jones-Evans, and I believe that he is now conducting another exercise for Edwina Hart, the business development Minister in Wales. We are certainly prepared to consider the proposal, and, in fact, I have already discussed it with my right hon. Friend the Secretary of State for Business, Innovation and Skills.