Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1688981

registered interest
date	16/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Prudential Regulation Authority Consultation Paper 16/22 on the Implementation of the Basel 3.1 standards published on 30 November 2022, what recent conversations he has had with the Prudential Authority on SME funding.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	13941
answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>The PRA is implementing Basel 3.1 as part of the UK’s Smarter Regulatory Framework. As part of this, the government has legislated for an accountability framework to ensure the PRA consider the impact of its implementation of Basel 3.1 on the wider impact on UK economic growth, of which SME lending is a vital part. HM Treasury continues to engage with the Prudential Regulation Authority (PRA) to assess the impact of its Basel 3.1 package on SME lending. The PRA has been clear that its final requirements will be guided by the evidence and that it would ‘particularly welcome’ evidence on the impact on SME lending so it can get its final proposals right. The PRA has said that it intends to publish its second policy statement in Q2 this year which will finalise the requirements in relation to SME lending</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 13940 question first answered 26/02/2024 10:38:15 answering member 4639 label Biography information for Bim Afolami
tabling member	1565 label Biography information for Sir Philip Davies

1604402

registered interest
date	15/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer what assessment he has made of the impact that proposals to remove the SME support factor in the PRA Consultation CP 16/22 on the Implementation of the Basel 3.1 standards para 4.131 p 144 - para 4.127 p146 on UK competitiveness.
tabling member constituency	Staffordshire Moorlands
tabling member printed	Karen Bradley
uin	166208
answer	answer is ministerial correction date of answer 20/03/2023 answer text <p>The PRA is currently consulting on its proposals for Basel 3.1. This includes its proposals for deleting retained EU law including those which relate to the prudential rules on secured and unsecured SME lending. The detailed implementation of the Basel package however, has been delegated to the Prudential Regulation Authority (PRA) as the UK’s expert regulator. The PRA is also consulting and has requested information from firms on specific measures including those relating to lending to SMEs.</p><p> </p><p>The Government continues to work closely with the PRA and businesses to understand the impact of its proposed changes, including for the international competitiveness of the UK and the impact on SME lending. This includes monitoring the EU’s proposals, which also have not yet been finalised.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 166207 166209 question first answered 20/03/2023 14:47:26 answering member 4874 label Biography information for Andrew Griffith
tabling member	4110 label Biography information for Dame Karen Bradley

1604451

registered interest
date	15/03/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business and Trade, pursuant to the Answer of 13 March 2023 to Question 161242 on Small Businesses: Finance, if he will provide a breakdown of how the £70 million for a Northern Ireland Investment Fund is being allocated.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	166153
answer	answer is ministerial correction date of answer 21/03/2023 answer text <p>The £70 million Investment Fund for Northern Ireland is on course to be launched by the British Business Bank in autumn 2023. The fund will offer a range of commercial finance options with loans from £25,000 to £2 million and equity investment of up to £5 million, increasing the supply and diversity of early-stage finance for smaller businesses in Northern Ireland. The Bank is currently inviting proposals from potential fund managers to operate the new fund.</p><p>Finance will be allocated based on the commercial merits of the proposals received.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 21/03/2023 15:19:37 answering member 4474 label Biography information for Kevin Hollinrake
tabling member	1409 label Biography information for Mr Gregory Campbell

1602379

registered interest
date	08/03/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business and Trade, with reference to page 65 of the Autumn Budget and Spending Review 2021, how much and what proportion of the £1.6 billion for the British Business Bank’s regional funds has been allocated to each of the qualifying regions as of 8 March 2023.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	161242
answer	answer is ministerial correction date of answer 13/03/2023 answer text <p>The Nations and Regions Investment Funds were announced at the 2021 Spending Review and will be delivered by the British Business Bank. The Funds will deliver a mix of debt and equity finance to businesses in their area. The allocations are:</p><p> </p><ul><li>£600m for a new Northern Powerhouse Investment Fund;</li><li>£400m for a new Midlands Engine Investment Fund;</li><li>£200m for a South West Investment Fund;</li><li>£150m for a Scotland Investment Fund;</li><li>£130m for a Wales Investment Fund; and</li><li>£70m for a Northern Ireland Investment Fund.</li></ul> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 13/03/2023 15:56:56 answering member 4474 label Biography information for Kevin Hollinrake
tabling member	1409 label Biography information for Mr Gregory Campbell

1579933

registered interest
date	23/01/2023
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	Small Businesses: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to provide further support to Small and Medium Sized Enterprises (SMEs) experiencing a shortage of financial resources to help them survive in the current economic conditions.
tabling member printed	Lord Taylor of Warwick
uin	HL4996
answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>Businesses will have benefitted from the Government’s reversal of the National Insurance rise, saving SMEs approximately £4,200 on average, the cut to fuel duty for 12 months and raising the Employment Allowance to £5,000.</p><p> </p><p>The Energy Bill Relief and Energy Bill Discount Schemes will protect SMEs from high energy costs over the winter. The Autumn Statement announced £13.6 billion of support for businesses over the next five years, reducing the burden of business rates for SMEs.</p><p> </p><p>Support is available to SMEs across the UK through the Recovery Loan Scheme and the Start-Up loan scheme. The latter has provided 100,228 SMEs with Start-Up loans to the value of £941,064,690.</p> answering member printed Lord Callanan question first answered 06/02/2023 17:16:49 answering member 4336 label Biography information for Lord Callanan
tabling member	1796 label Biography information for Lord Taylor of Warwick

1503517

registered interest
date	02/09/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to help unlock capital for SMEs in Britain.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	45186
answer	answer is ministerial correction date of answer 16/09/2022 answer text <p>The Government has a wide range of levers to help SMEs across the country access the capital they need to thrive and grow.</p><p> </p><p>The British Business Bank brings together a range of programmes, spanning debt and equity finance as well as regional funds, which help ensure that financial markets are working for SMEs. These programmes are supporting over £10.8 billion of finance to over 93,000 SMEs across the UK.</p><p> </p><p>The Government provides three tax-advantaged venture capital schemes: the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Venture Capital Trusts (VCTs). These schemes are designed to encourage investment in higher-risk, early-stage companies which face some of the biggest challenges in accessing growth capital.</p><p> </p><p>The Government is also working with industry to identify and address barriers to institutional investment into a broader range of assets, which could help unlock more capital for UK SMEs and improve returns for pension savers.</p> answering member constituency Kensington answering member printed Felicity Buchan question first answered 16/09/2022 11:31:29 answering member 4821 label Biography information for Felicity Buchan
tabling member	4866 label Biography information for Alexander Stafford

1399450

registered interest
date	04/01/2022
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	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, pursuant to the Answer of 23 November 2021 to Question 77452 on Future Fund, what steps his Department is taking to tackle disparities in equity finance across the regions.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	96871
answer	answer is ministerial correction date of answer 10/01/2022 answer text <p>The Government reaffirmed its commitment to supporting equity finance across the UK at the 2021 Spending Review. We announced over £1.6 billion of new funding for the British Business Bank’s (BBB) regional investment funds, which provide debt and equity finance for SMEs to help them with their next stage of growth.</p><p> </p><p>This funding will allow the BBB to set up new funds in Scotland and Wales and build on its existing activity in Northern Ireland. It will also see existing regional funds expand to allow businesses in the North East and South West of England to benefit from debt and equity finance provision.</p><p> </p><p>We have also committed an additional £150 million to the Regional Angels Programme, which helps entrepreneurs across the UK access early-stage equity finance. Of the initial £100m commitment through this programme, 80 per cent went to businesses outside London and the South East of England.</p> answering member constituency Sutton and Cheam answering member printed Paul Scully question first answered 10/01/2022 17:21:40 answering member 4414 label Biography information for Paul Scully
tabling member	4124 label Biography information for Chi Onwurah

1355349

registered interest
date	14/09/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the Bank of England's Term Funding Scheme for SMEs beyond it's planned expiry date of October 2021.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	49306
answer	answer is ministerial correction date of answer 20/09/2021 answer text Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England and this includes decisions on Bank Rate and quantitative easing. The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the effective delivery of monetary policy, so the Government does not comment on the conduct or effectiveness of monetary policy. answering member constituency Salisbury answering member printed John Glen question first answered 20/09/2021 15:10:09 answering member 4051 label Biography information for John Glen
tabling member	4856 label Biography information for Stephen Farry

1355350

registered interest
date	14/09/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he is planning to extend the SME Supporting Factor beyond 2022 to maintain lending capacity and businesses' access to finance.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	49307
answer	answer is ministerial correction date of answer 20/09/2021 answer text <p>The &quot;SME supporting factor”, allows firms to apply a discount (ranging between 15% and 24%) to risk weightings for qualifying exposures to SMEs.</p><p> </p><p>This measure was introduced by the EU and deviates from internationally agreed Basel standards.</p><p> </p><p>The recent Financial Services Act 2021, passed in May, delegated responsibility for the implementation of capital requirements relating to the international Basel standards to the Prudential Regulation Authority (PRA). This is subject to an enhanced accountability framework, which requires the PRA to consider the impact of their rules on the ability of firms to provide finance to the UK economy (including SMEs) on a sustainable basis in the medium and long-term.</p> answering member constituency Salisbury answering member printed John Glen question first answered 20/09/2021 15:11:41 answering member 4051 label Biography information for John Glen
tabling member	4856 label Biography information for Stephen Farry

1256385

registered interest
date	27/11/2020
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	Small Businesses: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they provide local authorities with (1) guidance, or (2) obligations, in relation to funding provided by the Small Business Fund; and if so, whether the funding provided by Harrogate Council to the Harrogate Conservative Association is in line with any such guidance or obligations.
tabling member printed	Lord Willis of Knaresborough
uin	HL10841
answer	answer is ministerial correction date of answer 11/12/2020 answer text <p>Local Authorities were provided with initial guidance on 24 March 2020 regarding the eligibility and distribution of the Small Business Grant Fund.</p><p> </p><p>Under the Small Business Grant Fund, all business hereditaments which were on 11 March in receipt of either the Small Business Rates Relief or the Rural Rates Relief in the business rates system were eligible for a payment of £10,000. Eligible recipients were entitled to receive one grant per qualifying hereditament.</p><p> </p><p>Local Authorities were responsible for determining eligibility for the Small Business Grant Fund in line with the guidance provided to them.</p> answering member printed Lord Callanan question first answered 11/12/2020 14:11:44 answering member 4336 label Biography information for Lord Callanan
tabling member	4151 label Biography information for Lord Willis of Knaresborough