Covid-19: Business

Lord Campbell of Pittenweem Excerpts

Wednesday 13th May 2020 Lords Chamber

[Lord Callanan]

My Lords, as always, I am very happy to join my noble friend in paying tribute to the many small community businesses up and down the country that play such an important part in our community life, and our message to them is a simple one. We will stand by them. We have announced an unprecedented range of measures to help them get through this extremely difficult and challenging period. The bounce-back loans scheme, which I am sure my noble friend is aware of, is a 100% government-backed loan scheme for small businesses. Any business will be able to borrow between £2,000 and £25,000 and have access to that cash, literally, within days. Those loans will be interest-free for the first 12 months. Businesses can apply online in a short and simple form. I totally agree with my noble friend that we need to stand by these businesses.

[Lord Campbell of Pittenweem (LD)]

My Lords, in the present circumstances it is clear that many businesses —particularly small ones, as has been mentioned—are desperate to avoid liquidation or bankruptcy, with employees in turn equally desperate to keep their jobs. In those circumstances, how can we be confident that both will not be tempted to cut corners?

[Lord Callanan]

That is why we have put in place such a strong enforcement regime. We have given extra resources to the Health and Safety Executive and local authorities to help them enforce these demands. Ultimately, it is a matter of trusting in the many sensible, established companies up and down the country to do the right thing for their employees. Most companies are endeavouring to do that; it is in their interests, and that is why they are successful. We will not hesitate to take enforcement action against the small minority that do not.