Oral Answers to Questions

Debate between Baroness Morgan of Cotes and Mark Hoban

Tuesday 24th January 2012 Commons Chamber

[Mr Hoban]

Let me just tell the hon. Gentleman what Moody’s said in December last year:

“The currently stable outlook on the government’s Aaa rating depends in part on the assumption that the government will stay on track with its fiscal consolidation programme.”

We will stay on track. The Opposition, with their policies on debt and borrowing, would throw this country off course, leading to higher interest rates that would hit families and businesses. We will stick to our course.

[Nicky Morgan (Loughborough) (Con)]

T1. If he will make a statement on his departmental responsibilities.

Equitable Life

Debate between Baroness Morgan of Cotes and Mark Hoban

Thursday 22nd July 2010 Commons Chamber

[Mr Hoban]

Many hon. Friends have raised that issue with me in debates in recent weeks, and I have asked my officials to look carefully at it. I have also thought through very carefully how we could make such a proposal work, but I am yet to be persuaded that we can do so in a way that is fair to policyholders who might not receive an interim payment.

[Nicky Morgan (Loughborough) (Con)]

I congratulate my hon. Friend on his announcement. Many of my constituents will be delighted at the speed with which he has tackled the matter. I noted the shadow Chief Secretary to the Treasury’s apology, but also that it was limited to Equitable Life policyholders. He did not apologise for the fact that the economic situation left behind by the previous Government has limited necessarily the payments that my constituents and others will receive. Should his apology extend to that?

[Mr Hoban]

I am not going to refer to the letter that the former Chief Secretary left for his successor, but I must say that I did not get one from him on Equitable Life.

Oral Answers to Questions

Debate between Baroness Morgan of Cotes and Mark Hoban

Tuesday 13th July 2010 Commons Chamber

[Nicky Morgan (Loughborough) (Con)]

The issue of business start-ups and supporting small companies has been mentioned this afternoon, but many of them are finding it very difficult to access bank financing. I was wondering how the Budget proposals will assist them, because growing the private sector is essential to improving our economy.

[Mr Hoban]

My hon. Friend is absolutely right about the importance of banks being in a position to lend in order to encourage the recovery. That is why in the Budget we announced an extension of the enterprise finance guarantee scheme by a further £200 million to enable the banks to lend to small businesses. We will be publishing a paper later this month on business finance, which, again, will put forward ideas about how we can continue to sustain the recovery by ensuring that the banks are in a position to lend.