Oral Answers to Questions Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Kevin Hollinrake
Main Page: Kevin Hollinrake (Conservative - Thirsk and Malton)Department Debates - View all Kevin Hollinrake's debates with the Department for Business, Energy and Industrial Strategy
(5 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Peter Heaton-Jones (North Devon) (Con)
Kevin Hollinrake (Thirsk and Malton) (Con)
The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Kelly Tolhurst)
In the past five years we have halved late payments and through our call for evidence we are looking at what more we can do to end the scourge of late payments affecting small businesses. In January, we announced £2 million of funding for our business basics programme, supporting 15 innovative projects. We continue to do that as we try to improve productivity.
Kelly Tolhurst
My hon. Friend is absolutely right. North Devon is a wonderful part of the country. The tourism sector is particularly important for our economy, providing 1.6 million jobs across all regions and contributing £67.7 billion in gross value added. The Government are committed to supporting the sector and to continuing to work with small businesses through our industrial strategy and the sector deal that is under way.
Kevin Hollinrake
Sadly, HBOS managers were found guilty of defrauding their own small business customers, yet the Financial Reporting Council has steadfastly refused to seriously consider whistleblower evidence that KPMG and the bank colluded to cover up bank losses partly attributable to that fraud. What will my hon. Friend do to ensure that this matter is seriously investigated?
Kelly Tolhurst
My hon. Friend raises a really important question. There have been several criticisms of the FRC, which is why the Secretary of State commissioned Sir John Kingman to lead a review of the regulator. We are taking forward Sir John’s recommendations to create a stronger regulator with stronger powers. I assure my hon. Friend that I will continue to meet him on the particular issue he raises, so that we can find a resolution.