Proceeding contribution from Lord Beamish (Labour) in the House of Commons on Tuesday, 3 May 2011. It occurred during Debate on bill and Committee of the Whole House (HC) on Finance (No. 3) Bill.
Finance (No. 3) Bill
That is right. My hon. Friend might have examples from his constituency—I certainly did—of the RDA underwriting small business loans for small companies when the banks, particularly Barclays and others, suddenly withdrew the finance. One company came to me that wanted a £1 million overdraft for six months to get some investment and the RDA helpfully underwrote that to allow the investment to go forward and create in the region of 25 new jobs. That is the important point about the relationship between the banking system and the regions.
Secondary information
- Type
- Proceeding contribution
- Reference
- 527 c535-6
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Banks Financial services Excise duties Fuels EU economic policy Exploration Economic growth Oil Pay Natural gas Public expenditure Prices Offshore industry Regulation Taxation VAT Tax yields North Sea oil Bank levy
- Legislation
- Finance (No. 3) Bill 2010-12
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 15:59:44 +0000
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