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1092647

registered interest
date	21/03/2019
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	Living Wage: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, how many workers will receive an increase in wages as a result of the rise in the national living wage on 1 April 2019 in each Scottish parliamentary constituency.
tabling member constituency	Berwickshire, Roxburgh and Selkirk
tabling member printed	John Lamont
uin	235373
answer	answer is ministerial correction date of answer 26/03/2019 answer text <p>On 1 April 2019, the Government is increasing the National Living Wage (NLW) to £8.21, keeping us on track to meet our target of the NLW reaching 60 percent of median earnings by 2020, subject to economic growth. This means that a full-time worker on the rate will be over £2750 better off over the year compared to the year the NLW was introduced.</p><p> </p><p>In April 2018, we estimated that 3,100 workers in Berwickshire, Roxburgh and Selkirk would benefit from the 2018 increases in the NLW and NMW, which accounted for 7 per cent of the workforce.</p><p> </p><p>The Government has not published data on projected coverage of the NLW by constituency from 1 April 2019. However, we estimate that 159,000 workers in Scotland stand to benefit from increases in the NLW or National Minimum Wage (NMW).</p><p> </p><p>We also expect workers earning above the NLW and NMW to benefit from indirect pay increases. Across the UK, we estimate that at least 20% of workers, which is over 5 million people, will directly or indirectly benefit from April’s uprating. This estimate was made from data published in the Government’s Impact Assessment for the 2019 uprating of the NMW and NLW, and the Office for National Statistics’ Labour Force Survey statistics.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 26/03/2019 17:59:02 answering member 4487 label Biography information for Kelly Tolhurst previous answer version 110265 answering member constituency Rochester and Strood answering member printed Kelly Tolhurst answering member 4487 label Biography information for Kelly Tolhurst
tabling member	4608 label Biography information for John Lamont

1092649

registered interest
date	21/03/2019
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: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, how much financial support the British Business Bank start-up loans programme has provided to businesses in each constituency since it was launched in 2012.
tabling member constituency	Berwickshire, Roxburgh and Selkirk
tabling member printed	John Lamont
uin	235375
answer	answer is ministerial correction date of answer 28/03/2019 answer text <p>The information requested is currently being researched, and I will deposit a copy of it in the Libraries of the House by the end of April.</p> answering member constituency Rochester and Strood answering member printed Kelly Tolhurst question first answered 28/03/2019 16:58:37 answering member 4487 label Biography information for Kelly Tolhurst
tabling member	4608 label Biography information for John Lamont

1061161

registered interest
date	14/02/2019
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	Financial Services: Technology
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 encourage small businesses to invest in and utilise FinTech.
tabling member constituency	Berwickshire, Roxburgh and Selkirk
tabling member printed	John Lamont
uin	221819
answer	answer is ministerial correction date of answer 22/02/2019 answer text <p>The UK has been independently ranked by EY and Deloitte as the world’s leading hub for Fintech. The ambitious Fintech Sector Strategy, launched in March 2018 by the Chancellor, sets out how the Government intends to maintain that position.</p><p> </p><p>This thriving Fintech community is an advantage for small UK businesses, who benefit from easy access to a range of services including foreign exchange, loans, equity investment and invoice finance. The British Business Bank’s annual Small Business Finance Markets report, published on 11 February, states that the value of peer-to-peer business lending rose a further 18% in 2018, having increased by 51% in 2017.</p><p> </p><p>The same report notes that awareness among small businesses is also increasing, with 52% aware of peer-to-peer lending as an option (2017: 47%) and 70% aware of equity crowdfunding (2017: 60%). The British Business Bank’s portal for small businesses, the Finance Hub, has extensive information for small businesses on finance options including those available through Fintech providers and how to access them.</p><p> </p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 22/02/2019 13:05:28 answering member 4021 label Biography information for Chris Skidmore
tabling member	4608 label Biography information for John Lamont