Oral Answers to Questions

Nick Smith Excerpts

Thursday 21st March 2013 Commons Chamber

[Mr Willetts]

My hon. and learned Friend is absolutely right. We believe that the employment allowance measure, on its own, will ensure that more than 400,000 SMEs no longer have to pay employers’ national insurance contributions, which is the boost they need.

[Nick Smith (Blaenau Gwent) (Lab)]

19. Which measures in the Government’s growth plan his Department has not yet implemented; and if he will make a statement.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

Yesterday, the Government published a progress report on implementation of the plan for growth and the autumn statement 2011. All measures are being implemented and almost two thirds of the measures are now complete—up from a quarter at Budget last year. We are on track for delivery.

[Nick Smith]

The Government have announced the electrification of the Ebbw Vale to Cardiff line, but in advance of that we need to redouble the line to improve train frequency. Will the Government work with the Welsh Government to ensure that the finance for this shovel-ready project is delivered before the next election?

[Vince Cable]

I am delighted to hear an acknowledgement that after many decades of decline in the railway system we now have a major investment in railways and a rail revolution taking place. The hon. Gentleman raises a specific point that I am happy to follow up with the Welsh Government.

--- Later in debate ---

[The Minister for Universities and Science (Mr David Willetts)]

I welcome my hon. Friend’s welcome for the important new review that Andrew Witty will be carrying out and, yes, of course I look forward to visiting the university of Worcester. I have not visited it for several years, but I believe that I shall be there in June, and I look forward to that.

[Nick Smith (Blaenau Gwent) (Lab)]

T5. May I press the Minister on payday lenders? Will the Government really get those companies to make it much easier for consumers to understand the cost of those awful payday loans?

[Jo Swinson]

The short answer is yes. The hon. Gentleman is quite right to say that consumer awareness is vital. Some of the people who take out such loans would be much better off with an entirely different financial product. That is why advertising is such an important element in tackling the issue. The Government are working with the Advertising Standards Authority and we will also work with the Financial Conduct Authority, which will take over those powers from next year, to ensure that we clamp down on advertising that misleads people and lures them into taking out products that are not right for them.