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East Midlands Regional Grand Committee
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East Midlands Regional Grand Committee (10)
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Answering member
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My right hon. Friend is right. The kick-start scheme to promote housing development and the extra resources announced today for councils to build affordable homes for people to rent have two major impacts—first, meeting the need for homes in the east midlands, which we know is there and which we must respond to right across the region, and, secondly, creating jobs in the construction industry.
Maintaining levels of public spending during a recession is crucial. It allows construction firms to bid for and win contracts to build schools, hospitals, children’s centres and infrastructure, road and transport projects. That makes a real difference not only to the economic infrastructure, which will allow the east midlands to take advantage of the economic opportunities in front of it, but by providing jobs in those industries by maintaining public spending. If we had followed the Conservative party’s formula of cutting public spending by £5 billion in this financial year, it would have devastated the economy and lost more people their jobs.
My right hon. Friend is right. The kick-start scheme to promote housing development and the extra resources announced today for councils to build affordable homes for people to rent have two major impacts—first, meeting the need for homes in the east midlands, which we know is there and which we must respond to right across the region, and, secondly, creating jobs in the construction industry.
Maintaining levels of public spending during a recession is crucial. It allows construction firms to bid for and win contracts to build schools, hospitals, children’s centres and infrastructure, road and transport projects. That makes a real difference not only to the economic infrastructure, which will allow the east midlands to take advantage of the economic opportunities in front of it, but by providing jobs in those industries by maintaining public spending. If we had followed the Conservative party’s formula of cutting public spending by £5 billion in this financial year, it would have devastated the economy and lost more people their jobs.
Answered by
Phil Hope
(Labour)
Asked by
Keith Vaz
(Labour)
Answering body
East Midlands Regional Grand Committee
Type
Oral answers to questions
In answer to the robust question from the hon. Member for Rutland and Melton, the Minister mentioned the housing scheme that was announced today. I was with the Minister for Housing this morning in Leicester, at the Mandela site, where £4 million has been allocated by the Government for new council houses. Does the Minister agree that that will directly benefit not only local people, who will benefit by getting houses, but the construction industry, which will be supported by the creation of more jobs as a result of the excellent scheme that the Government announced this morning?
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c4-5
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
The hon. Gentleman is right to emphasise the importance of the enterprise finance guarantee to local businesses in the region. As regional Minister, I recently met a group of the banks to demand that they start getting credit flowing to businesses, particularly, although not only, through the enterprise finance guarantee, given its importance in providing banks and lenders with the security to make loans to creditworthy businesses that would otherwise be unable to obtain them.
To answer the hon. Gentleman’s specific question, there are more than £41.8 million of eligible applications under the enterprise finance guarantee scheme regionally, 373 firms have been granted loans that are being processed or are being assessed and 353 businesses have been offered loans totalling £40.4 million—a considerable success, which proves the Government’s desire to ensure that businesses get the support that they need to get through the recession and into recovery.
The hon. Gentleman is right to emphasise the importance of the enterprise finance guarantee to local businesses in the region. As regional Minister, I recently met a group of the banks to demand that they start getting credit flowing to businesses, particularly, although not only, through the enterprise finance guarantee, given its importance in providing banks and lenders with the security to make loans to creditworthy businesses that would otherwise be unable to obtain them.
To answer the hon. Gentleman’s specific question, there are more than £41.8 million of eligible applications under the enterprise finance guarantee scheme regionally, 373 firms have been granted loans that are being processed or are being assessed and 353 businesses have been offered loans totalling £40.4 million—a considerable success, which proves the Government’s desire to ensure that businesses get the support that they need to get through the recession and into recovery.
Answered by
Phil Hope
(Labour)
Asked by
Paul Robert Holmes
(Liberal Democrat)
Answering body
East Midlands Regional Grand Committee
Type
Oral answers to questions
Another scheme to help businesses in the current recession is the enterprise finance guarantee loan system, administered by the banks, which the Government announced before Christmas. A national survey reported earlier this summer that across the UK it was almost impossible to access the money, which has certainly been true for my constituents in Chesterfield. One constituent approached her bank, Lloyds TSB, to access such a loan last February. She was promised the loan by June, but she is still waiting and it is now September. Lloyds TSB said to her at the time that it was a bit like chasing the rainbow. Will the Minister tell the Committee how many businesses in the east midlands have accessed an EFG loan? I want to know not how many have applied for one, but how many have completed the process and got the money.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c5
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
In answer to the robust question from the hon. Member for Rutland and Melton, the Minister mentioned the housing scheme that was announced today. I was with the Minister for Housing this morning in Leicester, at the Mandela site, where £4 million has been allocated by the Government for new council houses. Does the Minister agree that that will directly benefit not only local people, who will benefit by getting houses, but the construction industry, which will be supported by the creation of more jobs as a result of the excellent scheme that the Government announced this morning?
In answer to the robust question from the hon. Member for Rutland and Melton, the Minister mentioned the housing scheme that was announced today. I was with the Minister for Housing this morning in Leicester, at the Mandela site, where £4 million has been allocated by the Government for new council houses. Does the Minister agree that that will directly benefit not only local people, who will benefit by getting houses, but the construction industry, which will be supported by the creation of more jobs as a result of the excellent scheme that the Government announced this morning?
Asked by
Keith Vaz
(Labour)
Answering body
East Midlands Regional Grand Committee
Oral questions - Supplementary
Status
Answered
Answered on
9 September 2009
My right hon. Friend is right. The kick-start scheme to promote housing development and the extra resources announced today for councils to build affordable homes for people to rent have two major impacts—first, meeting the need for homes in the east midlands, which we know is there and which we must respond to right across the region, and, secondly, creating jobs in the construction industry.
Maintaining levels of public spending during a recession is crucial. It allows construction firms to bid for and win contracts to build schools, hospitals, children’s centres and infrastructure, road and transport projects. That makes a real difference not only to the economic infrastructure, which will allow the east midlands to take advantage of the economic opportunities in front of it, but by providing jobs in those industries by maintaining public spending. If we had followed the Conservative party’s formula of cutting public spending by £5 billion in this financial year, it would have devastated the economy and lost more people their jobs.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c4-5
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
In Broxtowe, we are delighted with the £500,000 that we have received to support the council house building programme. We are particularly delighted that the Government have shown that they are willing to support the building industry, which tends to be the hardest hit in periods such as this. Will my hon. Friend tell his colleagues in the Department that we hope that that support will not be a one-off and that we will see continuing support over the next 12 months?
In Broxtowe, we are delighted with the £500,000 that we have received to support the council house building programme. We are particularly delighted that the Government have shown that they are willing to support the building industry, which tends to be the hardest hit in periods such as this. Will my hon. Friend tell his colleagues in the Department that we hope that that support will not be a one-off and that we will see continuing support over the next 12 months?
Asked by
Nick Palmer
(Labour)
Answering body
East Midlands Regional Grand Committee
Oral questions - Supplementary
Status
Answered
Answered on
9 September 2009
My hon. Friend is right, and I thank him for his congratulations. One of my jobs as regional Minister is to stand up for the region in the corridors of Whitehall and to be an advocate for it, so that it gets inward investment and support from a variety of Departments, including the Department for Business, Innovation and Skills, the Department for Communities and Local Government and the Department for Children, Schools and Families, which can provide the investment that we need in skills, job support, housing and other infrastructure projects.
The regional economic strategy is the core document, which helps us to plan the way forward. I certainly intend to listen to businesses and local organisations, as I have been doing with colleagues on the regional economic cabinet. I intend to convey their views, to win resources and then to bear down on local deliverers, such as Jobcentre Plus and the learning and skills council, to ensure that resources are made available to the communities and individuals that need them.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c5-6
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
Another scheme to help businesses in the current recession is the enterprise finance guarantee loan system, administered by the banks, which the Government announced before Christmas. A national survey reported earlier this summer that across the UK it was almost impossible to access the money, which has certainly been true for my constituents in Chesterfield. One constituent approached her bank, Lloyds TSB, to access such a loan last February. She was promised the loan by June, but she is still waiting and it is now September. Lloyds TSB said to her at the time that it was a bit like chasing the rainbow. Will the Minister tell the Committee how many businesses in the east midlands have accessed an EFG loan? I want to know not how many have applied for one, but how many have completed the process and got the money.
Another scheme to help businesses in the current recession is the enterprise finance guarantee loan system, administered by the banks, which the Government announced before Christmas. A national survey reported earlier this summer that across the UK it was almost impossible to access the money, which has certainly been true for my constituents in Chesterfield. One constituent approached her bank, Lloyds TSB, to access such a loan last February. She was promised the loan by June, but she is still waiting and it is now September. Lloyds TSB said to her at the time that it was a bit like chasing the rainbow. Will the Minister tell the Committee how many businesses in the east midlands have accessed an EFG loan? I want to know not how many have applied for one, but how many have completed the process and got the money.
Asked by
Paul Robert Holmes
(Liberal Democrat)
Answering body
East Midlands Regional Grand Committee
Oral questions - Supplementary
Status
Answered
Answered on
9 September 2009
The hon. Gentleman is right to emphasise the importance of the enterprise finance guarantee to local businesses in the region. As regional Minister, I recently met a group of the banks to demand that they start getting credit flowing to businesses, particularly, although not only, through the enterprise finance guarantee, given its importance in providing banks and lenders with the security to make loans to creditworthy businesses that would otherwise be unable to obtain them.
To answer the hon. Gentleman’s specific question, there are more than £41.8 million of eligible applications under the enterprise finance guarantee scheme regionally, 373 firms have been granted loans that are being processed or are being assessed and 353 businesses have been offered loans totalling £40.4 million—a considerable success, which proves the Government’s desire to ensure that businesses get the support that they need to get through the recession and into recovery.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c5
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
According to Lord Mandelson, only two firms have received assistance from the capital for enterprise scheme, and according to him neither of them is in the east midlands. The automotive assistance programme was announced in January and is still not operating. Only 52 businesses have taken up facilities under the top-up trade credit insurance scheme, totalling a rather pathetic £7 million, but the Government refuse to say where those companies are based. Businesses everywhere, but small businesses in particular, are still being starved of credit and are being squeezed harshly by the banks. Is it not the case that such schemes are largely cosmetic, designed to get the Government a headline so that they look as though they are doing something about the recession, but in practice have delivered little succour to hard-pressed businesses? Will the Minister give us more detail about the effectiveness of the schemes in the east midlands, because many people feel that the Government, having got us into this mess, are doing very little in practice to get us out of it?
According to Lord Mandelson, only two firms have received assistance from the capital for enterprise scheme, and according to him neither of them is in the east midlands. The automotive assistance programme was announced in January and is still not operating. Only 52 businesses have taken up facilities under the top-up trade credit insurance scheme, totalling a rather pathetic £7 million, but the Government refuse to say where those companies are based. Businesses everywhere, but small businesses in particular, are still being starved of credit and are being squeezed harshly by the banks. Is it not the case that such schemes are largely cosmetic, designed to get the Government a headline so that they look as though they are doing something about the recession, but in practice have delivered little succour to hard-pressed businesses? Will the Minister give us more detail about the effectiveness of the schemes in the east midlands, because many people feel that the Government, having got us into this mess, are doing very little in practice to get us out of it?
Asked by
Alan Duncan
(Conservative)
Answering body
East Midlands Regional Grand Committee
Oral questions - 1st Supplementary
Status
Answered
Answered on
9 September 2009
I regret the tone of the hon. Gentleman’s supplementary question. He knows that the world is going through a global economic downturn, which has affected this country, this region and companies in our constituencies. The question for the Government was whether to stand back and, as in the 1980s, let the recession simply take its course with its devastating effects on individuals’ lives, businesses and communities, or whether to intervene? Unlike the hon. Gentleman’s party, we have decided to support businesses through real help now, supporting programmes such as Backing Young Britain, helping our young people into jobs through the future jobs fund, providing extra resources for businesses under the enterprise finance guarantee and ensuring opportunities for apprenticeships and job opportunities for young people, who are vulnerable during a recession.
I have met businesses up and down the region, and I can tell the hon. Gentleman that those businesses are making a great deal of use of all the Government programmes, which are making a real difference to business opportunities. Without Government intervention, the region would be much poorer, the recession would be deeper and more people would have lost their jobs. I am pleased to say that we are turning a corner and that this country is moving forward. We now need to grasp the opportunity that the Government have provided to take our country and the region forward to economic prosperity.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c3-4
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
I shall save my remarks about this historic occasion for when I make my statement to the Grand Committee. I shall begin by answering the first question on the Order Paper.
The Government have created a wide range of measures to support businesses during the global economic downturn, such as help with financial support, training and development opportunities. Two businesses in the east midlands have been supported through the trade credit top-up insurance scheme. One east midlands company has received £2 million of funding from the capital for enterprise fund. Nationally, more than 20 formal expressions of interest have been made to the automotive assistance programme, which includes companies from the east midlands. Such schemes are only part of the story of the real help that we are giving. I am sure that all members will join me in welcoming the Government’s announcement this morning that 29 housing schemes across the region will receive an additional £16 million of funding for affordable homes.
I shall save my remarks about this historic occasion for when I make my statement to the Grand Committee. I shall begin by answering the first question on the Order Paper.
The Government have created a wide range of measures to support businesses during the global economic downturn, such as help with financial support, training and development opportunities. Two businesses in the east midlands have been supported through the trade credit top-up insurance scheme. One east midlands company has received £2 million of funding from the capital for enterprise fund. Nationally, more than 20 formal expressions of interest have been made to the automotive assistance programme, which includes companies from the east midlands. Such schemes are only part of the story of the real help that we are giving. I am sure that all members will join me in welcoming the Government’s announcement this morning that 29 housing schemes across the region will receive an additional £16 million of funding for affordable homes.
Answered by
Phil Hope
(Labour)
Asked by
Alan Duncan
(Conservative)
Answering body
East Midlands Regional Grand Committee
Type
Oral answers to questions
How many businesses in the east midlands region have received assistance under the (a) trade credit top-up insurance scheme, (b) capital for enterprise fund and (c) automotive assistance programme to date; and if he will make a statement.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c3
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
I regret the tone of the hon. Gentleman’s supplementary question. He knows that the world is going through a global economic downturn, which has affected this country, this region and companies in our constituencies. The question for the Government was whether to stand back and, as in the 1980s, let the recession simply take its course with its devastating effects on individuals’ lives, businesses and communities, or whether to intervene? Unlike the hon. Gentleman’s party, we have decided to support businesses through real help now, supporting programmes such as Backing Young Britain, helping our young people into jobs through the future jobs fund, providing extra resources for businesses under the enterprise finance guarantee and ensuring opportunities for apprenticeships and job opportunities for young people, who are vulnerable during a recession.
I have met businesses up and down the region, and I can tell the hon. Gentleman that those businesses are making a great deal of use of all the Government programmes, which are making a real difference to business opportunities. Without Government intervention, the region would be much poorer, the recession would be deeper and more people would have lost their jobs. I am pleased to say that we are turning a corner and that this country is moving forward. We now need to grasp the opportunity that the Government have provided to take our country and the region forward to economic prosperity.
I regret the tone of the hon. Gentleman’s supplementary question. He knows that the world is going through a global economic downturn, which has affected this country, this region and companies in our constituencies. The question for the Government was whether to stand back and, as in the 1980s, let the recession simply take its course with its devastating effects on individuals’ lives, businesses and communities, or whether to intervene? Unlike the hon. Gentleman’s party, we have decided to support businesses through real help now, supporting programmes such as Backing Young Britain, helping our young people into jobs through the future jobs fund, providing extra resources for businesses under the enterprise finance guarantee and ensuring opportunities for apprenticeships and job opportunities for young people, who are vulnerable during a recession.
I have met businesses up and down the region, and I can tell the hon. Gentleman that those businesses are making a great deal of use of all the Government programmes, which are making a real difference to business opportunities. Without Government intervention, the region would be much poorer, the recession would be deeper and more people would have lost their jobs. I am pleased to say that we are turning a corner and that this country is moving forward. We now need to grasp the opportunity that the Government have provided to take our country and the region forward to economic prosperity.
Answered by
Phil Hope
(Labour)
Asked by
Alan Duncan
(Conservative)
Answering body
East Midlands Regional Grand Committee
Type
Oral answers to questions
According to Lord Mandelson, only two firms have received assistance from the capital for enterprise scheme, and according to him neither of them is in the east midlands. The automotive assistance programme was announced in January and is still not operating. Only 52 businesses have taken up facilities under the top-up trade credit insurance scheme, totalling a rather pathetic £7 million, but the Government refuse to say where those companies are based. Businesses everywhere, but small businesses in particular, are still being starved of credit and are being squeezed harshly by the banks. Is it not the case that such schemes are largely cosmetic, designed to get the Government a headline so that they look as though they are doing something about the recession, but in practice have delivered little succour to hard-pressed businesses? Will the Minister give us more detail about the effectiveness of the schemes in the east midlands, because many people feel that the Government, having got us into this mess, are doing very little in practice to get us out of it?
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c3-4
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
My hon. Friend is right, and I thank him for his congratulations. One of my jobs as regional Minister is to stand up for the region in the corridors of Whitehall and to be an advocate for it, so that it gets inward investment and support from a variety of Departments, including the Department for Business, Innovation and Skills, the Department for Communities and Local Government and the Department for Children, Schools and Families, which can provide the investment that we need in skills, job support, housing and other infrastructure projects.
The regional economic strategy is the core document, which helps us to plan the way forward. I certainly intend to listen to businesses and local organisations, as I have been doing with colleagues on the regional economic cabinet. I intend to convey their views, to win resources and then to bear down on local deliverers, such as Jobcentre Plus and the learning and skills council, to ensure that resources are made available to the communities and individuals that need them.
My hon. Friend is right, and I thank him for his congratulations. One of my jobs as regional Minister is to stand up for the region in the corridors of Whitehall and to be an advocate for it, so that it gets inward investment and support from a variety of Departments, including the Department for Business, Innovation and Skills, the Department for Communities and Local Government and the Department for Children, Schools and Families, which can provide the investment that we need in skills, job support, housing and other infrastructure projects.
The regional economic strategy is the core document, which helps us to plan the way forward. I certainly intend to listen to businesses and local organisations, as I have been doing with colleagues on the regional economic cabinet. I intend to convey their views, to win resources and then to bear down on local deliverers, such as Jobcentre Plus and the learning and skills council, to ensure that resources are made available to the communities and individuals that need them.
Answered by
Phil Hope
(Labour)
Asked by
Nick Palmer
(Labour)
Answering body
East Midlands Regional Grand Committee
Type
Oral answers to questions
In Broxtowe, we are delighted with the £500,000 that we have received to support the council house building programme. We are particularly delighted that the Government have shown that they are willing to support the building industry, which tends to be the hardest hit in periods such as this. Will my hon. Friend tell his colleagues in the Department that we hope that that support will not be a one-off and that we will see continuing support over the next 12 months?
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c5-6
Chamber / Committee
House of Commons Grand Committees
House
House of Commons
How many businesses in the east midlands region have received assistance under the (a) trade credit top-up insurance scheme, (b) capital for enterprise fund and (c) automotive assistance programme to date; and if he will make a statement.
How many businesses in the east midlands region have received assistance under the (a) trade credit top-up insurance scheme, (b) capital for enterprise fund and (c) automotive assistance programme to date; and if he will make a statement.
Asked by
Alan Duncan
(Conservative)
Answered by
Phil Hope
(Labour)
Answering body
East Midlands Regional Grand Committee
Oral questions - Lead
Status
Answered
Answered on
9 September 2009
I shall save my remarks about this historic occasion for when I make my statement to the Grand Committee. I shall begin by answering the first question on the Order Paper.
The Government have created a wide range of measures to support businesses during the global economic downturn, such as help with financial support, training and development opportunities. Two businesses in the east midlands have been supported through the trade credit top-up insurance scheme. One east midlands company has received £2 million of funding from the capital for enterprise fund. Nationally, more than 20 formal expressions of interest have been made to the automotive assistance programme, which includes companies from the east midlands. Such schemes are only part of the story of the real help that we are giving. I am sure that all members will join me in welcoming the Government’s announcement this morning that 29 housing schemes across the region will receive an additional £16 million of funding for affordable homes.
Subjects
Business; Credit; Finance; Insurance; Government assistance; East Midlands; Motor vehicles; Manufacturing industries; Capital for Enterprise
Date
9 September 2009
Reference
EMRGC c3; 290961
Chamber / Committee
House of Commons Grand Committees
House
House of Commons