Oral Answers to Questions

Debate between Vince Cable and David Simpson

Thursday 24th October 2013 Commons Chamber

[Vince Cable]

We have made it clear that doing nothing is not an option. We fully understand the implications of rising energy costs for business, particularly energy-intensive businesses. We have framed compensation arrangements and payments have already been made under the European Union emissions trading scheme, and state aid approval is now being sought for compensation for the carbon price floor for energy-intensive companies.

[David Simpson (Upper Bann) (DUP)]

What more can the Secretary of State do to encourage small businesses to apply for Government contracts?

[Vince Cable]

A great deal has been done at central Government level to ensure that we reach our target of 25% of Government contracts going to small and medium-sized enterprises. Considerable progress has been made in reducing the bureaucracy of pre-qualification questionnaires. The problem remains at the decentralised level—local government, hospitals and so on. Efforts will be made through legislation to simplify that process.

Royal Mail

Debate between Vince Cable and David Simpson

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

The hon. Gentleman makes my point for me. I am trying to work constructively with the CWU, as is my colleague, the Minister of State, the right hon. Member for Sevenoaks (Michael Fallon). We realise that it is in its interests that this succeeds, and we are trying to persuade it to work with us constructively.

[David Simpson (Upper Bann) (DUP)]

The Business Secretary said that as part of a three-year agreement Royal Mail is prepared to give a number of assurances. Ultimately, what control will the Government have in seeing that those assurances are implemented?

[Vince Cable]

Let me clear: these were not Government commitments but assurances by the management of Royal Mail, who will, I hope, reach a satisfactory agreement with their work force. It is currently under dispute, but there will be a traditional type of industrial agreement and I am sure that it will be honoured.

Directors’ Pay

Debate between Vince Cable and David Simpson

Wednesday 20th June 2012 Commons Chamber

[Vince Cable]

The hon. Lady is absolutely right—that is what the corporate stewardship code is all about. That initiative goes hand in hand with the others we are taking to ensure that companies operate on a long-term basis. British business has been undermined for far too long by short-term decision making, and we are trying to move it in the opposite direction.

[David Simpson (Upper Bann) (DUP)]

I broadly welcome the Government’s proposals, but on a practical matter, if a company were to default or not implement the legislation, what penalties could the Government impose on them?

[Vince Cable]

There is already a set of rules under the stewardship code. If companies fail to observe the binding vote, they will be making unauthorised payments. Very considerable liabilities can accrue to directors of companies that do that.