Jim Shannon
Main Page: Jim Shannon (Democratic Unionist Party - Strangford)Department Debates - View all Jim Shannon's debates with the HM Treasury
(1 year, 9 months ago)
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Andrew Griffith
I completely agree. My hon. Friend knows a great deal about the subject, which reflects his background; he is absolutely right.
Jim Shannon (Strangford) (DUP)
I thank the Minister for his statement. The Government are to be commended for the speed with which they have acted; it is indeed good news. I very much welcome the purchase of SVB by HSBC, which looks set to protect UK investors and start-ups alike, but what further assurances can the Minister give this House about what the 3,500 British customers will receive in terms of the long-term plan? How long is the Government’s commitment to steadying the ship?
Andrew Griffith
The Government are always committed to steadying the ship. That is why we take a prudent approach to running the economy and why the Prime Minister’s priorities are to reduce inflation, to pay down debt and to grow. To grow requires capital. That is why we have a long-term commitment to good regulation, which will minimise the prospect of events like this happening again. It is also why, with the expertise on the Government Benches, we are so focused on ensuring that we have the right ecosystem to allow our brilliant entrepreneurs, our scientists and our innovators the fertile capital with which to grow to their potential.