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Small Businesses

My Lords, I welcome the Minister’s Statement, in that the Government are seen to be trying to do something to help small business, but I do not accept his statement that taxation is the Chancellor’s responsibility—because I think that he can speak up for small business. How can small businesses accept that corporation tax for large companies has been reduced while it has been increased for them? It just does not sound fair. I started a business from scratch at the beginning of the last recession and, having been both a small business and a medium business, I know that the most important thing for small business is the ability to raise finance. What extension to the Small Firms Loan Guarantee scheme is being given? How much do the Government lend under the scheme? Let us put that into the context of the United States Government’s Small Business Administration, which has lent more than $50 billion supporting millions of American businesses. Why do we not learn from them and really support our small businesses? The Government have been bold in supporting banks, to the tune of £500 billion. If they put even £50 billion into supporting SMEs, they would get real results. The Prime Minister said that we are better when we are bold. May I request that the Government be bold in relation to small businesses?