Oral Answers to Questions

Robin Walker Excerpts

Thursday 11th September 2014 Commons Chamber

[Mr Vaizey]

We have a new set of Commissioners, so may I put on the record my gratitude to Neelie Kroes, who was the Commissioner I worked with most closely under the previous Commission, but who has now retired? I always enjoy meeting European Commissioners, and I also enjoy the fact that so much of the innovation that this Government come up with is now being copied by our European partners.

[Mr Robin Walker (Worcester) (Con)]

3. What recent assessment he has made of the competitiveness of the UK as a place to do business.

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

Last week, the World Economic Forum released its annual assessment of international competitiveness. The UK rose in the rankings to ninth place, and in relation to the responsibilities of my Department, to fourth place for labour markets and to second in the world for technological readiness and innovation. This is further evidence that our economic policies are delivering a more competitive economy. We are delivering on our commitment to make Britain the best place in the world to start and grow a business.

[Mr Walker]

I am grateful to the Secretary of State for that answer. I congratulate him and the Department on that progress. This Government have put making the UK the best place in the world to start a business right at the heart of that strategy, and businesses in Worcester are embracing that challenge. Does my right hon. Friend agree that it is a huge achievement that, since 2010, about 2,800 new businesses have been started in Worcester?

[Vince Cable]

And not only in Worcester. Indeed, one of the most rapidly growing programmes, operating through the British business bank, is the start-up loans scheme. My hon. Friend may be aware that approximately 19,000 start-up loans have now been made, with a value of over £100 million.