Oral Answers to Questions

Debate between Vince Cable and John Glen

Tuesday 5th March 2019 Commons Chamber

[John Glen]

I always take my right hon. Friend’s words very seriously, and I am sure that he must be right.

[Sir Vince Cable (Twickenham) (LD)]

Britain is now a world leader in financial transparency and dealing with money laundering owing to the public register of beneficial ownership. What action do the Government propose to take to stop those standards being undermined by Crown dependencies, which rely on the British passport and British defence protection, but operate in a much more opaque manner?

[John Glen]

We are committed to introducing those registers by 2023. Since 2017, we have worked closely with law enforcement agencies through the mechanism of the exchange of notes with the overseas territories, and that has led us to unexplained wealth orders and the forfeiture of bank accounts.

Treasury

Debate between Vince Cable and John Glen

Tuesday 9th October 2018 Ministerial Corrections

[Sir Vince Cable (Twickenham) (LD)]

British families are currently spending considerably more than their disposable income and, as a consequence, debt levels in relation to income are rising back to crisis levels. At the same time, France and Germany have big savings surpluses. Which is the most sustainable of the two options?

[John Glen]

What is sustainable is that real household disposable income is up by 4.6% since 2010. I acknowledge that there are those who are experiencing challenges, and that is why I have set out the measures the Government are taking and are determined to take to assist those in a vulnerable position.

[Official Report, 11 September 2018, Vol. 646, c. 586.]

Letter of correction from the Economic Secretary to the Treasury, the hon. Member for Salisbury (John Glen):

An error has been identified in the response I gave to the right hon. Member for Twickenham (Sir Vince Cable).

The correct response should have been:

Oral Answers to Questions

Debate between Vince Cable and John Glen

Tuesday 11th September 2018 Commons Chamber

[John Glen]

I thank my hon. Friend for reminding us of those facts. During the Labour Government, there was also an increase in the welfare budget of 65%, or £84 billion in real terms. We have to spend money wisely, and my hon. Friend’s observations are welcome.

[Sir Vince Cable (Twickenham) (LD)]

British families are currently spending considerably more than their disposable income and, as a consequence, debt levels in relation to income are rising back to crisis levels. At the same time, France and Germany have big savings surpluses. Which is the most sustainable of the two options?

[John Glen]

What is sustainable is that real household disposable income is up by 4.6% since 2010. I acknowledge that there are those who are experiencing challenges, and that is why I have set out the measures the Government are taking and are determined to take to assist those in a vulnerable position.[Official Report, 9 October 2018, Vol. 647, c. 1MC.]

Royal Mail

Debate between Vince Cable and John Glen

Wednesday 10th July 2013 Commons Chamber

[Vince Cable]

Yes, of course, and the right hon. Gentleman should know that because he voted through the legislation to provide that guarantee.

[John Glen (Salisbury) (Con)]

Although I warmly welcome today’s announcement, may I press the Secretary of State to confirm that in rural areas such as those around Salisbury there will never be a prospect of a second-tier service opening up, even after the first three years beyond this measure taking effect?

[Vince Cable]

I have repeated many times that the universal service obligation is embedded in law and being policed by Ofcom. That is the situation and it will continue.

Oral Answers to Questions

Debate between Vince Cable and John Glen

Thursday 13th June 2013 Commons Chamber

[Vince Cable]

I will. Indeed, at the beginning of the week I chaired a meeting of the construction industry’s council, which we have put together. Its members acknowledged that skills were one of their key constraints, one of the problems being that the construction industry has been through a very deep, cyclical depression, which has had a major knock-on effect on skills. We are now working with it to boost skills, so that the upswing in the industry that we are beginning to see is not impeded by the shortage of key people.

[John Glen (Salisbury) (Con)]

8. What steps he is taking to support pubs.

[George Hollingbery (Meon Valley) (Con)]

14. What steps he is taking to support traditional local pubs.

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

We are currently consulting on proposals to introduce a statutory code of practice and adjudicator for the pubs sector. The consultation closes tomorrow.

[John Glen]

I thank the Secretary of State for that answer. In assessing the possibility of a code and adjudicator, will he take account of the experience of my constituents Peter and Sara Strawson of the White Horse in Quidhampton, who, like many others, though accepting the challenges of local competition and changing patterns of consumption, maintain that Enterprise Inns signed them up to a lease on a false prospectus and then, with a combined wet and dry rent footing, made their business completely uneconomic and unsustainable?

[Vince Cable]

I think we all have such examples of publicans in our constituencies and it was that kind of experience that led to the Select Committee producing four reports on the subject. It also led to our seeking a voluntary code. In view of the lack of progress, we recommended a statutory code, on which we are now consulting. We have had about 6,000 replies, which is a remarkable response. I cannot yet assess the conclusions, but my hon. Friend’s example is fairly typical of many.

Oral Answers to Questions

Debate between Vince Cable and John Glen

Thursday 13th January 2011 Commons Chamber

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

The Chancellor and I are currently in discussions with the banks and are seeking an agreement for them to lend verifiably more than they were planning to viable businesses, especially SMEs. We want more competition in business banking, which is why we have set up the Independent Commission on Banking and we are supporting alternatives to bank lending, such as the equity-based enterprise capital funds.

[John Glen]

I thank my right hon. Friend for his reply. My constituent Neil Carden recently visited a Department for Business, Innovation and Skills summit. When giving me feedback, he said that despite my right hon. Friend’s efforts to improve SME access to finance through the enterprise finance guarantee scheme, the more important issue of the continuing risk-averse culture among banks remains unchecked. Given my right hon. Friend’s recent comments about the armoury of weapons he has at his disposal, could he set out which ones he is going to use to tackle that culture and get banks to lend more to small businesses?

[Vince Cable]

My hon. Friend successfully ran a family business for some years, I believe, so he understands risk management. Clearly, in the banking sector, in many cases banks took extraordinary risks in commercial and domestic property and derivatives. It is right that they should be conscious of risk, but to some extent they have lurched to the other extreme. That is one of the reasons why the Chancellor and I are discussing how to maintain a steady flow of credit to viable enterprises.