Asked by: Andrew Western (Labour - Stretford and Urmston)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps her Department is taking to recover repayments of Bounce Back Loans under £50,000.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
Lenders are responsible for the recovery of these loans in line with the standards and legal obligations set out under the schemes. The Department and the British Business Bank continue to work closely with UK Finance and accredited scheme lenders to support a consistent approach to the management of outstanding loans.
Lenders’ performance is subject to a robust audit programme overseen by the British Business Bank. If lenders do not meet their obligations, the government has the right not to pay out on any guarantee claims on the loans in scope.
The Department is also working with lenders to pilot greater use of third-party debt collection specialists, and compulsory liquidation for recovery and enforcement in fraud cases.
Asked by: Andrew Western (Labour - Stretford and Urmston)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps her Department is taking to ensure meaningful engagement with parliamentary committees on trade negotiations.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Government has put in place a suite of transparency and scrutiny arrangements that go well beyond statutory requirements. These were outlined in an exchange of letters with the Lords International Agreements Committee in May 2022.
The Government’s commitments include engaging with the relevant Select Committees during the pre-negotiations phase, providing regular written updates during talks and offers of private briefings with negotiating teams; and sharing key documents with Committees prior to publication where possible. We have also committed to ensuring there is extended time for Select Committees to scrutinise final agreements prior to ratification.
Asked by: Andrew Western (Labour - Stretford and Urmston)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, when the most recent meetings of her Department's (a) thematic working groups and (b) strategic trade advisory group took place; and when the next meetings of these groups are expected to take place.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The most recent meeting of the Strategic Trade Advisory Group was 13 June 2022.
The most recent meeting dates of the Thematic Working Groups are listed below.
29/06/2022 – Small and Medium-Sized Enterprises
30/06/2022 – Trade for Development
21/07/2022 – Customs
28/07/2022 – Procurement
08/09/2022 – Intellectual Property
13/10/2022 – Sustainability
17/01/2023 – Technical Barriers to Trade
18/01/2023 – Implementation and Market Access
26/01/2023 – Cross-Cutting Services
21/04/2023 – Financial Services (led by HMT)
The Department for Business and Trade is reforming its approach to external engagement, to meets the needs of industry and match the priorities of the new Department. A new approach will be set out in due course, but in the meantime the Department continues to engage with a full range of interested parties on key issues.