Oral Answers to Questions

Sonia Kumar Excerpts

Thursday 30th October 2025 Commons Chamber

[Blair McDougall]

The hon. Gentleman makes an important point. One of my constituents is in a similar case, and it is devastating. For a large business, fraud and economic crime is an inconvenience; for a small business, it can be existential. That is one of the reasons why, this week, we are communicating with small businesses to ensure that they up their cyber-security. I am happy to meet the hon. Gentleman on this issue.

[Sonia Kumar (Dudley) (Lab)]

What steps is the Department taking to improve access to finance for UK start-ups seeking to scale up, given that only 1% of UK start-ups raise equity of more than £100 million? By comparison, in the US, 6% of start-ups do so. Furthermore, how can we ensure that women get a fair share of access to finance?

[Peter Kyle]

My hon. Friend asks exactly the right questions, which I am extremely grateful for, because they are central to the programme of economic reform that this Government are undertaking. She will know from the Mansion House reforms that we are unlocking capital into our economy via the pensions reforms being undertaken. We are making sure, right from the start, that women have a voice. I did the same in my role in the Department for Science, Innovation and Technology, and in this role, I will continue to ensure that women are championed right across the economy, that we get capital where it needs to be, and that we accept that we have brilliant businesses that need targeted intervention, which we will provide to make sure that scale-ups happen.