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My Lords, I think the Minister is living in some sort of cuckoo land. Last Friday, I was in Plymouth, looking at some very interesting and exciting technology companies. Their biggest complaint is that the broadband they are getting is totally insufficient. A few months ago I was in Norwich, where it is the same story. If you go to Tech City, which is the hub of what we are doing in this country, you will find time and time again the complaint that we are not getting the speeds that are required. Can the Minister say when, instead of being complacent about what is happening, there will be some degree of urgency about improving coverage and speed?
My Lords, I think the Minister is living in some sort of cuckoo land. Last Friday, I was in Plymouth, looking at some very interesting and exciting technology companies. Their biggest complaint is that the broadband they are getting is totally insufficient. A few months ago I was in Norwich, where it is the same story. If you go to Tech City, which is the hub of what we are doing in this country, you will find time and time again the complaint that we are not getting the speeds that are required. Can the Minister say when, instead of being complacent about what is happening, there will be some degree of urgency about improving coverage and speed?
What I was referring to mainly with essential services was the basic broadband service. Superfast broadband, which is what I think the noble Lord is referring to for business, is necessary. At the moment, 78% of premises in this country have superfast broadband. By the end of 2016, it will be 90% and in 2017 it will be 95%. The remaining 5% will be dealt with later.
My Lords, I declare my interest as chairman of a graduate recruitment company called Instant Impact. These days it is really critical for young people to have significant CVs which are padded out with jobs that they have done. It is therefore important that they have internships. However, those who get internships tend to be better connected and wealthier people who can do them without pay. I really think that the Government should reconsider whether there should be a minimum wage after four weeks. Would the Minister agree to this?
My Lords, I declare my interest as chairman of a graduate recruitment company called Instant Impact. These days it is really critical for young people to have significant CVs which are padded out with jobs that they have done. It is therefore important that they have internships. However, those who get internships tend to be better connected and wealthier people who can do them without pay. I really think that the Government should reconsider whether there should be a minimum wage after four weeks. Would the Minister agree to this?
My Lords, I agree with the noble Lord that interns play a very important role. When an internship is on their CV it becomes easier for a young person to find a job. What is important, as the noble Lord says, is that everyone should be treated fairly and in a transparent way. I think it is important that companies use services such as the Government’s Graduate Talent Pool to find interns rather than simply accept the children of friends or family or people they know.
My Lords, I thank the Minister for that reply. We are all under digital surveillance, not only by the security services but also by retailers, hospitals, online suppliers and network operators. They are able to collate massive amounts of data about who we are, where we go, what we buy, who we speak to and even the state of our health. Next year is the 800th anniversary of Magna Carta. To celebrate this in a modern setting, should we not introduce a digital Magna Carta, designed to guarantee our online rights and privacy?
My Lords, I thank the Minister for that reply. We are all under digital surveillance, not only by the security services but also by retailers, hospitals, online suppliers and network operators. They are able to collate massive amounts of data about who we are, where we go, what we buy, who we speak to and even the state of our health. Next year is the 800th anniversary of Magna Carta. To celebrate this in a modern setting, should we not introduce a digital Magna Carta, designed to guarantee our online rights and privacy?
The noble Lord is of course right to remind us of Magna Carta and its impending anniversary. The Government are not, at the moment, minded to introduce a Bill or any legislation of the sort that the noble Lord refers to. Of course we must be nimble to protect those rights which are expressed digitally. However, there are, as I said in my Answer to his Question, a number of remedies available. The Information Commissioner’s Office performs its task well and, for the moment, any legislation brought in by the Government or the party opposite should emphasise not only rights but responsibilities.
To ask Her Majesty’s Government whether they consider that there is a case for a digital bill of rights to protect personal privacy and promote a free and open internet.
To ask Her Majesty’s Government whether they consider that there is a case for a digital bill of rights to protect personal privacy and promote a free and open internet.
My Lords, the Government are acutely conscious of the need for the protection of individuals’ privacy both online and offline. We believe that the protection of these rights should go in tandem with, and not be at the expense of, an open, innovative and secure internet that promotes economic growth and freedom of expression. We believe that sufficient
safeguards already exist to protect individuals’ privacy through the Data Protection Act 1998, together with other legal remedies.
Lords presentation and first reading (HL Bill 12).
Lords presentation and first reading (HL Bill 12).
The Government’s long-awaited digital inclusion strategy appears to have given up on nearly 10% of the population. Many vital services are now online, yet many of those who need to access them are precluded from doing so. What further action will be taken to make sure that no one is left behind?
The Government’s long-awaited digital inclusion strategy appears to have given up on nearly 10% of the population. Many vital services are now online, yet many of those who need to access them are precluded from doing so. What further action will be taken to make sure that no one is left behind?
I agree with the noble Lord that the whole quest of this is to ensure that as few as possible—and, in the end, none—are left behind. That is precisely why the Government, with their £10 million project, are seeking to fund alternative technology broadband opportunities. Twenty-six suppliers have submitted bids to deal with the hardest spots that are not yet connected. The bids are currently being evaluated, and I hope that the contracts will be awarded in June so that we can help precisely those businesses and people that the noble Lord refers to.
To ask Her Majesty’s Government what steps they are taking to reduce the number of payday loan advertisements watched by children.
To ask Her Majesty’s Government what steps they are taking to reduce the number of payday loan advertisements watched by children.
My Lords, payday loan adverts are subject to the Advertising Standards Authority’s strict rules. The ASA will not hesitate to ban irresponsible adverts. The Broadcast Committee of Advertising Practice is currently considering the issue of payday loan advertising on children’s TV and the potential implications for ASA regulation. The Financial Conduct Authority has introduced new requirements on payday lenders, including mandatory risk warnings and signposts on debt advice in adverts. It can ban misleading adverts that breach its rules.
I thank the Minister for the reply. Daytime television, my Lords, is deluged with advertisements for payday loans, many of them including fluffy puppets, catchy jingles and smiley people. Children see these advertisements and, not surprisingly, when family money is tight, they pester their parents to take out these loans. I intend to table a Private Member’s Bill to ban all advertising of high-cost, short-term loans until after the watershed. Will the Government support me?
I thank the Minister for the reply. Daytime television, my Lords, is deluged with advertisements for payday loans, many of them including fluffy puppets, catchy jingles and smiley people. Children see these advertisements and, not surprisingly, when family money is tight, they pester their parents to take out these loans. I intend to table a Private Member’s Bill to ban all advertising of high-cost, short-term loans until after the watershed. Will the Government support me?
My Lords, I think it is right first to set out the scale of the problem. I am not doubting that there are issues, which is why the Broadcast Committee of Advertising Practice is looking explicitly at this matter. However, to set the issue in context, payday loan adverts in 2012 comprised 0.6% of TV ads seen by children aged four to 15, and, last year, all personal debt ads on children’s television amounted to 0.2% of total ad spend on children’s television. I am not saying that it is not an issue, but the number of ads being watched by children in this area is relatively modest—hardly more than one a week.
My Lords, despite what the Minister says, the latest funding for lending figures are yet again down on what they were previously, and the high street banks are just not playing their part. Does the Minister agree that peer-to-peer lenders are in many cases much better able to serve small businesses and should receive even greater government assistance?
My Lords, despite what the Minister says, the latest funding for lending figures are yet again down on what they were previously, and the high street banks are just not playing their part. Does the Minister agree that peer-to-peer lenders are in many cases much better able to serve small businesses and should receive even greater government assistance?
My Lords, gross lending has gone up by 16% over the past 12 months. We intend to lend £4 billion per month compared with around £3.1 billion this time last year. We encourage peer-to-peer lending and more is happening in the area. One of the reasons that net lending might have dropped, which is probably the gist of the noble Lord’s question, is that a large number of businesses are either repaying or going for alternative financing, including factoring, leasing and hire purchase. There are also a number of schemes from the British Business Bank.
To ask Her Majesty’s Government what assessment they have made of the level of interest from businesses in the United Kingdom in the employee-shareholder scheme, in the light of figures given to the Financial Times in response to a freedom of information request.
To ask Her Majesty’s Government what assessment they have made of the level of interest from businesses in the United Kingdom in the employee-shareholder scheme, in the light of figures given to the Financial Times in response to a freedom of information request.
My Lords, the employee-shareholder employment status came into force as recently as 1 September 2013. Companies are not required to register or apply to government to use it, and no qualitative assessment of levels of interest has yet been made. However, since 1 September, the online detailed guidance was viewed nearly 15,000 times, with people spending, on average, more than seven minutes on the pages. This clearly shows an initial level of interest in the scheme.
My Lords, last year these Benches argued passionately against the shares for workers’ rights scheme. Last week, the Deputy Prime Minister said that it should be scrapped. According to the freedom of information request, the number of enquires that the BIS has received in respect of the scheme is the magnificent total of 19. Let us be honest; it is a flop. Is it not time for the Government to cut their losses?
My Lords, last year these Benches argued passionately against the shares for workers’ rights scheme. Last week, the Deputy Prime Minister said that it should be scrapped. According to the freedom of information request, the number of enquires that the BIS has received in respect of the scheme is the magnificent total of 19. Let us be honest; it is a flop. Is it not time for the Government to cut their losses?
My Lords, it was not unexpected that this issue would return to your Lordships’ Chamber, and the noble Lord, Lord Mitchell, has obliged—although perhaps slightly earlier than I might have hoped. The status has only been introduced recently, so the phrase “early days” springs to mind.
In terms of the point that the noble Lord made about the freedom of information response given to the Financial Times, it was on the number of inquiries that the Government had received on the status. I know that the noble Lord submitted a Written Parliamentary Question to me relating to the number of people who had become employee-shareholders. There were two distinct questions that required different answers.
My Lords, in 2008, 12 million people viewed advertisements for payday lending companies. Last year, the total was 7.5 billion. Do the Government feel that the time has come for us to ban advertising for payday lending on television, particularly when it is directed at children?
My Lords, in 2008, 12 million people viewed advertisements for payday lending companies. Last year, the total was 7.5 billion. Do the Government feel that the time has come for us to ban advertising for payday lending on television, particularly when it is directed at children?
My Lords, the Advertising Standards Authority has been looking at a rising number of complaints about payday loan advertising on television. It has the power to ban misleading ads and already has done so in respect of ads placed, for example, by Cash Lady and FirstPayDayLoanUK. From April next year, the FCA will have the power to ban misleading financial promotions. It will be able to look at advertising and the whole way in which payday loans are promoted under that new power.
To ask Her Majesty’s Government how many people have applied to have employee shareholder status.[HL3430]
To ask Her Majesty’s Government how many people have applied to have employee shareholder status.[HL3430]
The new employment status of employee shareholder came into effect on 1 September 2013. It is a voluntary option that employers may wish to consider using.
Companies are not obliged to tell Government what type of employment contract they offer people and neither companies nor individuals are required to ‘apply’ to Government if they intend to use this measure. Therefore, details of the number of companies offering employee shareholder status, or the number of employee shareholders are not available from Government.
Those thinking of using the new status may seek advice from a number of different sources such as their legal contacts, or a helpline or business organisation and there is no requirement on any company wishing to offer an employee shareholder contract to notify any Government department or agency in advance.
To ask Her Majesty’s Government what assessment they have made of the level of financing available to small and medium-sized enterprises.
To ask Her Majesty’s Government what assessment they have made of the level of financing available to small and medium-sized enterprises.
My Lords, under this Government credit conditions continue to improve. Survey evidence indicates that more small and medium-sized enterprises are using external finance. Recent data from the Bank of England show that gross lending is continuing to rise year on year and in September reached the highest level since 2009. More broadly, confidence is beginning to return to businesses, which are now more ready to borrow and invest than since before the financial crisis.
My Lords, yet again I am asking the Government why much needed financial support is not getting through to SMEs. According to the Bank of England, net lending to SMEs was down £600 million in the second quarter of 2013. The answer to the Question is obvious: financing that should be going to small businesses is in fact being used by banks to build up their profitable mortgage portfolios. Does the Minister accept that banks should be backing small businesses rather than helping to create another property bubble?
My Lords, yet again I am asking the Government why much needed financial support is not getting through to SMEs. According to the Bank of England, net lending to SMEs was down £600 million in the second quarter of 2013. The answer to the Question is obvious: financing that should be going to small businesses is in fact being used by banks to build up their profitable mortgage portfolios. Does the Minister accept that banks should be backing small businesses rather than helping to create another property bubble?
My Lords, it is important to set the picture in context. According to the British Bankers’ Association, the current stock of lending to SMEs by the top seven banks is more than £99 billion. By this measure, around £2 billion is lent by the banks to SMEs every month. SMEs are actually twice as likely to be successful when applying for finance than has been predicted.
The World Bank’s ease of doing business index puts the UK as the top place in the world for accessing finance. I think this overstates how things are. In any case, we know that there is scope for improvement. Clearly, it is a tough environment for small businesses. Although net lending might have dropped last year, I am pleased to report to the noble Lord that gross lending has gone up, as did net lending in September.
Noble Lords will be as horrified as I was yesterday to discover that the leading online payday lending company has raised the interest rate on its loans from 4,214% to 5,853%. Religious leaders, community leaders and Members of both Houses of Parliament have begged the Government to cap interest rates, but they continue to refuse. Why is this? Could it be that some of the shareholders in some of the payday lending companies are also some of the donors to the Conservative Party?
Noble Lords will be as horrified as I was yesterday to discover that the leading online payday lending company has raised the interest rate on its loans from 4,214% to 5,853%. Religious leaders, community leaders and Members of both Houses of Parliament have begged the Government to cap interest rates, but they continue to refuse. Why is this? Could it be that some of the shareholders in some of the payday lending companies are also some of the donors to the Conservative Party?
The Government remain very concerned by the evidence of harm in the payday loan market, but we do not think that the current evidence points to a cap on the cost of credit as a solution at this time. The Bristol report on high-cost credit indicates that a cap could have unintended consequences and risks harm, such as reducing consumers’ access to credit and leading to crime, lenders imposing new charges outside the cap, and less understanding shown to customers. Therefore, we do not agree that this is right or, indeed, that a ban would be right.
My Lords, we have already heard from noble Lords about the deplorable situation with respect to Funding for Lending. Loans in general to SMEs year on year are down by more than 3%, and Funding for Lending in the last quarter was down by £300 million. Billions of pounds are being drawn down by participating banks, but precious little is getting through to SMEs. It simply is not working. What we really need in this country is a fully fledged business investment bank with a strong regional presence. Does the Minister agree?
My Lords, we have already heard from noble Lords about the deplorable situation with respect to Funding for Lending. Loans in general to SMEs year on year are down by more than 3%, and Funding for Lending in the last quarter was down by £300 million. Billions of pounds are being drawn down by participating banks, but precious little is getting through to SMEs. It simply is not working. What we really need in this country is a fully fledged business investment bank with a strong regional presence. Does the Minister agree?
My Lords, the Funding for Lending scheme is working. As I said, we have lent £16.5 billion in the past 12 months. We have also got other banks to join the scheme. Given time, it will prove to be successful. We have £80 billion allocated for that scheme. It is the best scheme available for SMEs. I also said that the banks are risk averse. They do not want to go through the crisis that they went through in 2008. SMEs are partly risk averse too. Not many SMEs are borrowing, which is why there is a little contraction in actual lending.
My Lords, the Government have been prolific in announcing new schemes designed to assist small businesses to grow. They all have one thing in common: not one of them is working. The money simply is not getting through. If large organisations could be shamed into paying within 30 days, small companies would benefit immediately. Here is an idea: why not make it compulsory for all organisations, public and private, to include payment performance in their annual accounts?
My Lords, the Government have been prolific in announcing new schemes designed to assist small businesses to grow. They all have one thing in common: not one of them is working. The money simply is not getting through. If large organisations could be shamed into paying within 30 days, small companies would benefit immediately. Here is an idea: why not make it compulsory for all organisations, public and private, to include payment performance in their annual accounts?
My Lords, government departments are obliged to pay 80% of their invoices within five days. We are promoting a culture of prompt payment. We would not like to bring this in as part of legislation. In many ways, we inherited this particularly important and good legislation from the previous Government. We will now further enhance it by taking the European directive to make sure that UK suppliers are paid by member states of Europe.
My Lords, these answers hardly fill one with confidence, do they? UK Export Finance was set up specifically to help all businesses to export more, but let us look at the results. Over one year—2011-12—the number of small and medium-sized companies receiving help from UKEF has been the magnificent total of 21. Cannot we do better than that?
My Lords, these answers hardly fill one with confidence, do they? UK Export Finance was set up specifically to help all businesses to export more, but let us look at the results. Over one year—2011-12—the number of small and medium-sized companies receiving help from UKEF has been the magnificent total of 21. Cannot we do better than that?
My Lords, this time last year I asked for an ad-hoc cross-party committee, chaired by my noble friend Lord Cope, to be set up. We had a report in the early part of this year, and received a response from business this week on what we can do to help our SMEs to export more, including how the UK Export Finance scheme can work more effectively for those who export in those countries.
My Lords, is it just me, or is there a sense of complacency in the replies that we are getting? This is a very serious issue. With the benefit of hindsight, I accept that it would have been difficult to prevent such a despicable act. However, now that this has happened, what steps are being taken by the Government
to ensure that safety equipment that is not classified as military equipment or subject to the same export restrictions has adequate checks?
My Lords, is it just me, or is there a sense of complacency in the replies that we are getting? This is a very serious issue. With the benefit of hindsight, I accept that it would have been difficult to prevent such a despicable act. However, now that this has happened, what steps are being taken by the Government
to ensure that safety equipment that is not classified as military equipment or subject to the same export restrictions has adequate checks?
My Lords, in February 2010 when this matter came to our attention, the Foreign and Commonwealth Office informed all diplomatic posts of the UK Government of the concern about the effectiveness of certain hand-held bomb detectors and asked posts to share this concern with host Governments. This happened during the time of the noble Lord’s Government. Therefore, everything was done from the time it came to our attention to the time we put the controls in place.