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Swinson, Jo (3)
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To ask the Secretary of State for Scotland what steps the Government is taking to help small and medium-sized enterprises to grow in Scotland.
To ask the Secretary of State for Scotland what steps the Government is taking to help small and medium-sized enterprises to grow in Scotland.
Asked by
Jo Swinson
(Liberal Democrat)
Answered by
Michael Moore
(Liberal Democrat)
Answering body
Scotland Office
Type
Written questions
Status
Answered
Tabled on
1 November 2011
For answer on
9 November 2011
Answered on
9 November 2011
The Government fully recognise the importance of small and medium-sized enterprises to the Scottish economy.We have put in place a wide range of measures under our Plan for Growth to ensure that Scottish SMEs, which are at the heart of our plans, are supported in their efforts to grow and export.
Subjects
Business; Scotland
Date
9 November 2011
Reference
78433; 535 c313W
House
House of Commons
Like other hon. Members, I have huge amounts of correspondence from constituents with viable small businesses who are desperate to get credit but are being offered loans only on ridiculous terms—anything between 7 and 23 per cent. above base rate. On 15 October, the Leader of the House said:""One of the main reasons why we have been…buying shares in the banks is to ensure that they start lending again to small businesses at reasonable rates. We will do whatever it takes to back up our small business sector."—[Official Report, 15 October 2008; Vol. 480, c. 790.]"
When will the Government start doing "whatever it takes"?
Like other hon. Members, I have huge amounts of correspondence from constituents with viable small businesses who are desperate to get credit but are being offered loans only on ridiculous terms—anything between 7 and 23 per cent. above base rate. On 15 October, the Leader of the House said:""One of the main reasons why we have been…buying shares in the banks is to ensure that they start lending again to small businesses at reasonable rates. We will do whatever it takes to back up our small business sector."—[Official Report, 15 October 2008; Vol. 480, c. 790.]"
When will the Government start doing "whatever it takes"?
Asked by
Jo Swinson
(Liberal Democrat)
Answering body
Scotland Office
Oral questions - 1st Supplementary
Status
Answered
Answered on
17 June 2009
The hon. Lady should look at the facts. The Government created the enterprise finance guarantee specifically for companies that cannot access commercial lending. To date, more than 187 firms in Scotland have benefited from loans of more than £25 million. In addition, the business support payment scheme from the tax office has helped 9,000 Scottish firms defer £167 million. I have been advised by the Royal Bank of Scotland that in the past year its lending to small and medium-sized enterprises in Scotland has increased by close to £100 million, and that it anticipates lending an additional £250 million to the Scottish SME sector this year alone.
Subjects
Business; Scotland
Date
17 June 2009
Reference
494 c291
Chamber / Committee
House of Commons chamber
House
House of Commons
What recent discussions he has had with the Chancellor of the Exchequer on measures to encourage banks to lend to small businesses in Scotland.
What recent discussions he has had with the Chancellor of the Exchequer on measures to encourage banks to lend to small businesses in Scotland.
Asked by
Jo Swinson
(Liberal Democrat)
Answered by
Ann McKechin
(Labour)
Answering body
Scotland Office
Oral questions - Lead
Status
Answered
Tabled on
9 June 2009
For answer on
17 June 2009
Answered on
17 June 2009
Mr. Speaker, since I came to the House I have much appreciated the friendship and support that you have shown, as one of my neighbouring MPs. I thank you for that.
My right hon. Friend the Secretary of State has regular discussions with the Chancellor on a range of issues. Since the start of the year, the Government have introduced a range of measures to help increase liquidity and ease credit conditions for business.
Subjects
Business; Scotland
Date
17 June 2009
Reference
494 c291; 279146
Chamber / Committee
House of Commons chamber
House
House of Commons