Oral Answers to Questions

Nigel Evans Excerpts

Thursday 26th March 2015 Commons Chamber

[Vince Cable]

I would hope that all parties continue to support the industrial strategy, which has been a considerable success, particularly in the aerospace industry, and Airbus has been one of its beneficiaries. To be frank, when I came into office I was warned by the industry that it was gradually drifting away overseas and that we would no longer be able to claim that we were the second aerospace power in the world, but with the big, long-term commitment we have made its future is secure, including that of Airbus.

[Mr Nigel Evans (Ribble Valley) (Con)]

2. What steps his Department is taking to support small businesses.

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

We have established the British Business Bank, which is supporting more than £1.8 billion of finance to 43,000 smaller businesses. More than 26,000 start-up loans have been drawn, totalling more than £136 million. The greatbusiness.gov.uk website brings together expert advice for businesses in one place, and the new Business Growth Service provides joined-up support to firms with growth potential. Some 48,000 businesses have been helped by our UKTI support—90% were small businesses.

[Mr Evans]

My constituency is next door to Pendle, funnily enough. It is very similar, but we do not have and do not want an airport. What we do have are many small businesses, from the butcher to restaurants, bars, hotels and independently owned stores that tend to employ local people and source locally whenever they can. Does the Secretary of State agree that we have to bend over backwards to ensure the vibrancy of those businesses so that they continue to be the lifeblood of our communities?

[Vince Cable]

I absolutely agree with the hon. Gentleman, and one of the success stories of this Government has been the massive expansion of small business, with hundreds of thousands of start-ups, many of them now employing people. However, I would caution against attempts to make some distinction between big and small businesses. They are interdependent through supply chains, and the excellent announcement today from Jaguar Land Rover, with its big investment in the west midlands in the new Jaguar, is an example of its confidence in the country, but it will also provide a substantial amount of business for its suppliers, small and large.