Thank you, Madam Deputy Speaker, for granting this wonderful opportunity to present the report that the Treasury Committee published yesterday on access to finance for small and medium-sized businesses.

As every Member will know, small and medium-sized enterprises form the backbone of the UK economy. All of us in our constituencies...

Thank you, Madam Deputy Speaker, for granting this wonderful opportunity to present the report that the Treasury Committee published yesterday on access to finance for small and medium-sized businesses.

As every Member will know, small and medium-sized enterprises form the backbone of the UK economy. All of us in our constituencies...

I am on the Treasury Committee, and I commend my hon. Friend for her great chairmanship. She has already mentioned the need for transparency, and I am delighted that the Treasury will bring that forward, but I was particularly struck by how difficult it is to open accounts. Even for...

I am on the Treasury Committee, and I commend my hon. Friend for her great chairmanship. She has already mentioned the need for transparency, and I am delighted that the Treasury will bring that forward, but I was particularly struck by how difficult it is to open accounts. Even for...

I agree with my right hon. Friend. Inflation is the worst tax on our economy and important steps are being taken by the independent Bank of England to raise interest rates, to make sure that inflation gets back to its target zone. That all seems to be on track. Monetary...

I agree with my right hon. Friend. Inflation is the worst tax on our economy and important steps are being taken by the independent Bank of England to raise interest rates, to make sure that inflation gets back to its target zone. That all seems to be on track. Monetary...

I am also a member of the Treasury Committee, and I thank the Chair for all her hard work on this report.

On the overall question of the confidence of SMEs in their ability to access finance, the report raises some interesting figures. There was a £95 billion finance gap in...

I am also a member of the Treasury Committee, and I thank the Chair for all her hard work on this report.

On the overall question of the confidence of SMEs in their ability to access finance, the report raises some interesting figures. There was a £95 billion finance gap in...

I thank my excellent colleague for his question. He is absolutely right that the inquiry received evidence on what I would describe as financial apathy. Small businesses sometimes choose not to borrow, choose not to grow, In fact, only 5% of small businesses that seek lending would even consider shopping...

I thank my excellent colleague for his question. He is absolutely right that the inquiry received evidence on what I would describe as financial apathy. Small businesses sometimes choose not to borrow, choose not to grow, In fact, only 5% of small businesses that seek lending would even consider shopping...

I am grateful to the Chair of the Treasury Committee for making this statement today. She will be aware that one of the main reasons why a lot of small businesses have to rely on bank funding is because bigger businesses do not pay their bills on time, and all...

I am grateful to the Chair of the Treasury Committee for making this statement today. She will be aware that one of the main reasons why a lot of small businesses have to rely on bank funding is because bigger businesses do not pay their bills on time, and all...

The hon. Gentleman makes an excellent point that everyone in this House will recognise as a challenge. Getting paid by bigger businesses is a bane of the lives of many small business owners. I know there has been a lot of work in the Department for Business and Trade, and...

The hon. Gentleman makes an excellent point that everyone in this House will recognise as a challenge. Getting paid by bigger businesses is a bane of the lives of many small business owners. I know there has been a lot of work in the Department for Business and Trade, and...

Statement on the publication of the eighth report of the Treasury Committee, SME Finance, (HC 27).

Statement on the publication of the eighth report of the Treasury Committee, SME Finance, (HC 27).

A general debate on access to redress schemes has been scheduled for Thursday 18 April in the Commons Chamber. The debate will be led by Mr William Wragg MP.

A general debate on access to redress schemes has been scheduled for Thursday 18 April in the Commons Chamber. The debate will be led by Mr William Wragg MP.

Motion that this House has considered the Business Banking Resolution Service. Agreed to on question.

Motion that this House has considered the Business Banking Resolution Service. Agreed to on question.

I beg to move,

That this House has considered the Business Banking Resolution Service.

It is an extraordinary pleasure to serve under your chairmanship, Mr Pritchard, and to welcome the Minister, shadow Ministers—the hon. Member for Hampstead and Kilburn (Tulip Siddiq) and the right hon. Member for Dundee East (Stewart Hosie)—and an...

I beg to move,

That this House has considered the Business Banking Resolution Service.

It is an extraordinary pleasure to serve under your chairmanship, Mr Pritchard, and to welcome the Minister, shadow Ministers—the hon. Member for Hampstead and Kilburn (Tulip Siddiq) and the right hon. Member for Dundee East (Stewart Hosie)—and an...

I congratulate the hon. Member on securing this debate. Support for the BBRS is limited; many have stated that a new alternative resolution scheme should be created. Does the hon. Member agree that any new scheme should seek not to burden the tribunal system, by requiring parties first to seek...

I congratulate the hon. Member on securing this debate. Support for the BBRS is limited; many have stated that a new alternative resolution scheme should be created. Does the hon. Member agree that any new scheme should seek not to burden the tribunal system, by requiring parties first to seek...

The hon. Lady makes a valid, important and sensible point. I will touch on a suggestion towards the end of my remarks.

In the course of its inquiry, the Treasury Committee considered the long-standing and very large gap in provision of a financial dispute resolution service for SMEs, between those eligible...

The hon. Lady makes a valid, important and sensible point. I will touch on a suggestion towards the end of my remarks.

In the course of its inquiry, the Treasury Committee considered the long-standing and very large gap in provision of a financial dispute resolution service for SMEs, between those eligible...

We should not underestimate the hon. Member’s point about the unreasonableness of expecting those who find themselves in that situation to have huge amounts of courage. I want to make that point on behalf of my constituents who have huge amounts of patience, courage and grit to right what in...

We should not underestimate the hon. Member’s point about the unreasonableness of expecting those who find themselves in that situation to have huge amounts of courage. I want to make that point on behalf of my constituents who have huge amounts of patience, courage and grit to right what in...

Absolutely so. The courage of those small and medium-sized business owners is not to be underestimated. I have dealt with constituents whose cases go back decades. They have had more than patience; they have had the utmost resilience. Many would have given up by now, but such is the injustice—the...

Absolutely so. The courage of those small and medium-sized business owners is not to be underestimated. I have dealt with constituents whose cases go back decades. They have had more than patience; they have had the utmost resilience. Many would have given up by now, but such is the injustice—the...

Does that list extend to Lloyds bank? I have a constituent who is a reasonably successful property developer and was encouraged by Lloyds bank to take out larger and riskier loans. He took independent advice, only to find that the person advising him was on commission from Lloyds bank. The...

Does that list extend to Lloyds bank? I have a constituent who is a reasonably successful property developer and was encouraged by Lloyds bank to take out larger and riskier loans. He took independent advice, only to find that the person advising him was on commission from Lloyds bank. The...

I am afraid that the hon. Gentleman highlights one of many cases across our constituencies. I perfectly well understand his constituent’s sense of injustice. Hopefully this debate will at least give us an idea of the way forward.

The BBRS followed from the Walker review, commissioned by UK Finance, which identified...

I am afraid that the hon. Gentleman highlights one of many cases across our constituencies. I perfectly well understand his constituent’s sense of injustice. Hopefully this debate will at least give us an idea of the way forward.

The BBRS followed from the Walker review, commissioned by UK Finance, which identified...