James Frith
Main Page: James Frith (Labour - Bury North)Department Debates - View all James Frith's debates with the HM Treasury
Oral Answers to Questions
James Frith Excerpts(5 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Robert Jenrick
My hon. Friend is absolutely right. The VAT threshold in this country is high by international standards. We have retained it at that level to support small businesses, which this Government will always champion.
James Frith (Bury North) (Lab)
Small businesses and subcontractors are still carrying the can for the collapse of Carillion. In the light of Interserve’s latest trouble, can the Minister update us on his Department’s liaison with it as a client, and say what level of risk the taxpayer and small businesses have been put to by Interserve’s latest attempts to stay afloat by refinancing its debt for equity?
Robert Jenrick
The hon. Gentleman raises an important question. My right hon. Friend the Minister for the Cabinet Office is working closely on this matter, as he did with respect to Carillion. We want a wider base of companies supplying the Government and the public sector, to ensure that we have a resilient public sector in the eventuality that such situations happen again.