Oral Answers to Questions

Debate between Vince Cable and Neil Parish

Thursday 21st March 2013 Commons Chamber

[Neil Parish (Tiverton and Honiton) (Con)]

Recently, Axminster Carpets, a great local company, went into administration. Its bankers were less than sympathetic. The Government have capital funds in place for banks to lend; can the Secretary of State do much more to make sure banks properly lend to business?

[Vince Cable]

There are a great many initiatives taking place. Apart from the advanced manufacturing supply chain finance announced this morning, we will be talking tomorrow about a new raft of initiatives for non-bank lending. The hon. Gentleman will have seen this morning’s ministerial statement on the future role of the business bank. He is right that the closure of the carpet factory is a serious blow, but it relates more to the viability of the company than to the ability of getting credit from banks.

Directors’ Pay

Debate between Vince Cable and Neil Parish

Wednesday 20th June 2012 Commons Chamber

[Neil Parish (Tiverton and Honiton) (Con)]

I welcome the Secretary of State’s statement, but are we giving shareholders enough power quickly enough to stop companies providing a lot of executive pay for very poor performance?

[Vince Cable]

The measures in the Bill on the binding vote are strong ones. Whether they are implemented quickly enough depends partly on how quickly the House proceeds with the legislation. I would expect to see it coming into effect soon.

Oral Answers to Questions

Debate between Vince Cable and Neil Parish

Thursday 2nd February 2012 Commons Chamber

[Vince Cable]

Yes. I have talked extensively to Will Hutton about that. In the proposals that I will bring forward next week, we will introduce the principle of a clawback; that clawback can operate in different ways, and we are certainly looking seriously at one of the ways that Will Hutton has recommended.

[Neil Parish (Tiverton and Honiton) (Con)]

To get to the dizzy heights of executive pay, one must first get a job. What are Ministers doing to reduce the red tape and bureaucracy relating to apprenticeship schemes for small and medium-sized businesses?