Oral Answers to Questions

Neil Carmichael Excerpts

Thursday 18th July 2013 Commons Chamber

[Jo Swinson]

The short answer to the hon. Gentleman’s question is no, because the Government are taking significant action. I think he misunderstands; the OFT report shows the biggest set of problems in the industry. I know that much of the focus ends up on the APR headlines, but the surveys and the consumer organisations working with the issue day in, day out show the problems around issues such as affordability assessments, continuous payment authority abuse and abuse of the way in which roll-overs are used. The FCA has said specifically that it is looking to plug any gaps in regulation in all those areas when it takes on the role of regulator next April. We do not have to wait very long to see its draft rule book, which will be published this September.

[Neil Carmichael (Stroud) (Con)]

13. What recent assessment he has made of the value of supply chains to the UK economy.

[The Parliamentary Under-Secretary of State for Skills (Matthew Hancock)]

In the UK and across the world, supply chains are diverse, complex and global. Their value is huge and their importance is vital. Support for supply chains is studded through our policy and underpinned by the industrial strategies.

[Neil Carmichael]

In contrast to the Labour Government, this Government are clearly doing something to build capacity in our supply chains. I welcome that and I see evidence of it in my constituency. May I stress the importance of making sure that supply chains are developed in our regions to ensure that we have a truly balanced economy, not just between manufacturing and services, but across our regions?

[Matthew Hancock]

Absolutely. I pay tribute to my hon. Friend’s work on promoting the importance of supply chains, not least because of the high proportion of manufacturing in his constituency. We will make sure that they stay at front and centre of what we do in the Department.