Oral Answers to Questions

Simon Hart Excerpts

Wednesday 12th October 2011 Commons Chamber

[The Prime Minister]

I always listen carefully to Sir John’s advice, and he gives me some excellent advice. In the short term, Britain desperately needs to get behind the solution to the eurozone crisis, because it is having a chilling effect on the whole of the European economy, and the American economy as well. That is the first priority. I accept, however, that at the same time as doing that it will be important to get some safeguards for Britain. As eurozone countries go ahead and sort out their problems, we need safeguards to ensure that the single market goes on working for the United Kingdom.

[Simon Hart (Carmarthen West and South Pembrokeshire) (Con)]

Last weekend, B&Q opened a new store in Pembroke Dock creating 25 jobs and Ledwood engineering advertised 25 new jobs in the town. Jobcentre Plus in Pembroke Dock has 249 jobs on offer. Does the Prime Minister agree that there would be further good news if the banks honoured their pledge to commit to credit flow, and will he keep the pressure on and encourage businesses in Wales to advertise even more jobs?

[The Prime Minister]

We shall certainly keep the pressure on the banks. It is worth making the point that in spite of the difficulties, there are 500,000 new private sector jobs in our economy compared with the time of the election. However, we need to have in place all the things that help businesses to expand and grow. Bank finance is just one of those things. We have the Merlin agreement, which is increasing lending to small businesses, and we also have what the Chancellor has said about credit easing to ensure that we consider other ways of expanding credit in our economy.