Simon Kirby
Main Page: Simon Kirby (Conservative - Brighton, Kemptown)Department Debates - View all Simon Kirby's debates with the HM Treasury
(10 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Gauke
I entirely agree that business start-ups are very important. I certainly was aware of the event at the national rail centre in Milton Keynes between 4 o’clock and 7 o’clock on Friday afternoon. I also note that unemployment in my hon. Friend’s constituency has gone down by 42% since the last election, which suggests that start-ups are thriving in Milton Keynes.
Andrea Leadsom
No. The hon. Gentleman is completely wrong. The funding for lending scheme has undoubtedly made more credit available than would otherwise have been the case. As I have said, gross lending to businesses has improved and the Federation of Small Businesses has said that the outlook for small and medium-sized enterprises is now better than it has been before. I remind the hon. Gentleman that the peak-to-trough drop in GDP between 2008 and 2009 was 7.2%. That is the cause of the disastrous drop in the availability of bank funding to businesses in this country.
Simon Kirby (Brighton, Kemptown) (Con)
Bank lending is particularly important for new businesses. Will my hon. Friend join me in congratulating the record number of business start-ups—a staggering 1,965—in Brighton and Hove last year?
Andrea Leadsom
I am grateful to my hon. Friend for his announcement of what is going on in his constituency. It is fantastic news that so many new businesses are starting up. As we know, that is creating millions of new private sector jobs, and that, of course, is the way for our economy to recover.