Asked by: Ian Roome (Liberal Democrat - North Devon)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of trends in the level of market competition in the consumer credit rating sector.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The government recognises the significant role of healthy competition in markets in giving consumers access to services and products of high quality, supporting business growth and the wider economy. Responsibility for investigating individual and market-wide competition concerns falls to the Competition Markets Authority (“CMA”), the UK’s independent competition authority. The government has ensured that the CMA has significant powers to investigate and act to ensure markets remain competitive, and consumers are protected from unfair or exploitative market practices.
Asked by: Ian Roome (Liberal Democrat - North Devon)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to help reduce the number of corporate insolvencies.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government aims to boost all businesses, across key policy areas to build business capabilities, and a strong business environment. The Government works closely with the British Business Bank to enhance small business's access to finance through targeted interventions. Under the umbrella of the Export Academy, UK Export Finance and the newly announced Business Growth Service, businesses can access support, information, training, events, and expert support from business and International Trade advisors to overcome trading and export barriers.