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1439225

registered interest
date	09/03/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Business: Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent estimate he has made of the number of UK-based businesses with an annual turnover of between (a) £10,000 and £20,000, (b) £21,000 and £30,000, (c) £31,000 and £40,000, (d) £50,000 and £60,000 and (e) £70,000 and £85,000 in each of the last five years.
tabling member constituency	Thirsk and Malton
tabling member printed	Kevin Hollinrake
uin	137376
answer	answer is ministerial correction date of answer 14/03/2022 answer text <p>The Department of Business, Energy and Industrial Strategy does not hold data on the number of UK-based businesses with an annual turnover at the intervals provided in the question.</p><p> </p><p>The Office for National Statistics publishes annual data on UK-based business with an annual turnover of between (a) £0-£49,000, (b) £50,000-£99,000, (c) £100,000-£249,000 etc.[1]</p><p> </p><p><em>[1] ONS, UK Business: Activity, Size and Location (Table 11)</em></p> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 14/03/2022 17:00:42 answering member 4414 label Biography information for Paul Scully
tabling member	4474 label Biography information for Kevin Hollinrake

1435260

registered interest
date	24/02/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	British Business Bank
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department plans to take steps to tackle disparities in basic lender performance of the British Business Bank, in response to some lenders putting in additional checks to counter fraud, while others did not.
tabling member constituency	Thirsk and Malton
tabling member printed	Kevin Hollinrake
uin	129192
answer	answer is ministerial correction date of answer 04/03/2022 answer text <p>All lenders continue to be subject to a robust audit and assurance process by the British Business Bank. If lenders don’t meet their obligations in the Guarantee Agreement the Bank can take remedial action including cancellation of the guarantee.</p> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 04/03/2022 11:37:08 answering member 4414 label Biography information for Paul Scully
tabling member	4474 label Biography information for Kevin Hollinrake

1435261

registered interest
date	24/02/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	British Business Bank
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has made an assessment of the potential merits of the British Business Bank being required to set higher standards for lenders than the statutory minimum because public money is at stake.
tabling member constituency	Thirsk and Malton
tabling member printed	Kevin Hollinrake
uin	129193
answer	answer is ministerial correction date of answer 04/03/2022 answer text <p>Lenders accredited to deliver the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme are subject to the terms of Guarantee Agreements, which they must abide by to be eligible to make a claim under the Government guarantee.</p><p> </p><p>The recovery principles outlined in these agreements are no less stringent than those applied to standard commercial lending.</p> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 04/03/2022 11:39:11 answering member 4414 label Biography information for Paul Scully
tabling member	4474 label Biography information for Kevin Hollinrake

1435262

registered interest
date	24/02/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	British Business Bank
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans his Department has to help support the British Business Bank strengthen its approach to countering fraud.
tabling member constituency	Thirsk and Malton
tabling member printed	Kevin Hollinrake
uin	129194
answer	answer is ministerial correction date of answer 04/03/2022 answer text <p>The Department already supports the British Business Bank (BBB) in its counter fraud activities and will continue to do so.</p><p> </p><p>We work in partnership with BBB to support their compliance with the Government Functional Standards in Counter Fraud including the:-</p><ul><li>Detection and Measurement of fraud,</li><li>Fraud Risk Assessments,</li><li>Measurement of fraud controls,</li><li>Investigation of fraud and</li><li>High level fraud analysis.</li></ul><p> </p><p>Further, we are working to strengthen the future approach to fraud. The department is currently working with BBB on an updated fraud strategy to address the challenges associated with the Bounce Back Loan and which for instance includes:-</p><ul><li>Improved Management Information</li><li>Enhanced enforcement action</li><li>How insight from current schemes can be used to prevent fraud in future schemes administered by BBB on behalf of BEIS.</li></ul> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 04/03/2022 11:42:35 answering member 4414 label Biography information for Paul Scully
tabling member	4474 label Biography information for Kevin Hollinrake

1419096

registered interest
date	02/02/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Directors: Money Laundering
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to ensure strict anti-money laundering and identity checks for directors are in place at the point of company formation on Companies House.
tabling member constituency	Thirsk and Malton
tabling member printed	Kevin Hollinrake
uin	116999
answer	answer is ministerial correction date of answer 10/02/2022 answer text <p>The Government has already committed to introduce identity verification for all directors at the point of incorporation with Companies House. Third parties that seek to form companies are already required to be supervised for anti-money laundering purposes. Under the reforms announced by the Government in September 2020, third parties will be required to register with Companies House and have their supervision confirmed before they will be permitted to request company formations.</p> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 10/02/2022 15:07:35 answering member 4414 label Biography information for Paul Scully
tabling member	4474 label Biography information for Kevin Hollinrake