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1139275
star this property registered interest false more like this
star this property date less than 2019-07-16more like thismore than 2019-07-16
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name Treasury more like this
star this property hansard heading Manufacturing Industries: Government Guaranteed Credit more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what the value was of credit guarantees provided by the Government to the manufacturing industry in each of the last 10 years. more like this
star this property tabling member constituency Birkenhead remove filter
star this property tabling member printed
Frank Field more like this
star this property uin 277654 more like this
star this property answer
answer
star this property is ministerial correction false more like this
unstar this property date of answer less than 2019-07-22more like thismore than 2019-07-22
unstar this property answer text <p>The Government recognises the vital role that manufacturing plays in the UK economy. Therefore, we support the sector in a number of ways, including through the provision of several credit guarantee schemes.</p><p> </p><p>Please see below for an indication of the support made available to the manufacturing industry over the last 10 financial years through credit guarantee schemes. This includes data on the flow of credit guarantees from UK Export Finance, and the British Business Bank (since its establishment in 2014/15).</p><p> </p><table><tbody><tr><td><p>Manufacturing £m</p></td></tr><tr><td><p>2009/2010</p></td><td><p>1,930</p></td></tr><tr><td><p>2010/2011</p></td><td><p>1,877</p></td></tr><tr><td><p>2011/2012</p></td><td><p>1,798</p></td></tr><tr><td><p>2012/2013</p></td><td><p>2,284</p></td></tr><tr><td><p>2013/2014</p></td><td><p>1,044</p></td></tr><tr><td><p>2014/2015</p></td><td><p>1,215</p></td></tr><tr><td><p>2015/2016</p></td><td><p>554</p></td></tr><tr><td><p>2016/2017</p></td><td><p>1,784</p></td></tr><tr><td><p>2017/2018</p></td><td><p>1,297</p></td></tr><tr><td><p>2018/2019</p></td><td><p>3,734</p></td></tr></tbody></table><p> </p><p>This data has been identified from credit guarantees to the manufacturing sector using the standard industrial classification (SIC) as used by the Office for National Statistics, where possible. This does not include other forms of credit support, such as the Repayable Launch Investments.</p><p> </p><p>In addition to manufacturing-specific support, the Government also supports various programmes to help businesses access the finance they need through the British Business Bank.</p><p> </p>
star this property answering member constituency Newark more like this
star this property answering member printed Robert Jenrick more like this
star this property question first answered
less than 2019-07-22T15:17:42.107Zmore like thismore than 2019-07-22T15:17:42.107Z
star this property answering member
4320
star this property label Biography information for Robert Jenrick more like this
star this property tabling member
478
unstar this property label Biography information for Lord Field of Birkenhead more like this
1129030
star this property registered interest false more like this
star this property date less than 2019-06-03more like thismore than 2019-06-03
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name Treasury more like this
star this property hansard heading Credit: Price Caps more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of a price cap across the whole consumer credit market. more like this
star this property tabling member constituency Birkenhead remove filter
star this property tabling member printed
Frank Field more like this
star this property uin 259014 more like this
star this property answer
answer
star this property is ministerial correction false more like this
unstar this property date of answer less than 2019-06-11more like thismore than 2019-06-11
unstar this property answer text <p>On 1 April 2014 the Government transferred regulatory responsibility for consumer credit from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). The FCA proactively monitors the market, focusing on the areas most likely to cause consumer harm. The Government has given the FCA the power to cap all forms of credit, and the FCA can do so if it thinks it is necessary to protect consumers.</p><p> </p><p>The FCA introduced a price cap on the cost of payday lending in 2015, and more recently introduced a price cap on rent-to-own which came into force on 1 April 2019. The Government has strong concerns about the practices that the FCA has identified in the rent-to-own market, and welcomes the FCA’s decision to introduce a price cap.</p><p> </p><p>The FCA has said that it will keep the issue of capping the cost of credit in other markets under review.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-06-11T13:39:40.15Zmore like thisremove minimum value filter
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
478
unstar this property label Biography information for Lord Field of Birkenhead more like this