Oral Answers to Questions

Robert Syms Excerpts

Tuesday 30th January 2018 Commons Chamber

[Diana Johnson (Kingston upon Hull North) (Lab)]

1. What assessment he has made of the effect of the liquidation of Carillion on the viability of small businesses.

[Sir Robert Syms (Poole) (Con)]

10. What steps he is taking to support businesses affected by the liquidation of Carillion.

[The Secretary of State for Business, Energy and Industrial Strategy (Greg Clark)]

I have set up a taskforce bringing together small and medium-sized businesses, the Government, local government and trade unions to assist with the impact on small and medium-sized enterprises and the supply chain. The taskforce has delivered a range of supportive measures, including assistance from Her Majesty’s Revenue and Customs for those experiencing difficulties and more than £900 million of support from UK lenders.

--- Later in debate ---

[Sir Robert Syms]

The collapse is really bad news for many smaller businesses, many of which will have their capital wiped out. What discussions has the Secretary of State had with banks about forbearance in keeping those businesses going so that there is proper competition in this market for the future?

[Greg Clark]

I apologise to my hon. Friend if he did not receive notice of the grouping—I am sure that is my error.

On engagement with the banks, each of them has responsibilities to its customers to help them through difficult times. The banks have explicitly committed to help them with any cash flow difficulties that they experience, and I expect the banks to deliver on it.