Rehman Chishti
Main Page: Rehman Chishti (Conservative - Gillingham and Rainham)Department Debates - View all Rehman Chishti's debates with the Department for Education
(12 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Vince Cable
The business bank has already been organised and as I just mentioned, the expert committee met for the first time a couple of days ago and its products are already being prepared. As the hon. Gentleman will know, we have to go through the state aid process before it can operate fully. In the meantime, it can operate within constraints—pari passu lending, for one thing—and I can assure him that it will make a significant contribution.
Rehman Chishti (Gillingham and Rainham) (Con)
Will the Secretary of State join me in welcoming the news that in the third quarter of 2012 there was a record number of company formations in Gillingham?
Vince Cable
Yes, and I think my hon. Friend makes an important point, which is that although we frequently hear from the prophets of doom on the Opposition Benches, a large amount of entrepreneurial activity is taking place. The percentage of the population engaged in business has increased from about 6% to 9% in the past two years, and what is happening in Gillingham is an example of that.