Barry Sheerman
Main Page: Barry Sheerman (Labour (Co-op) - Huddersfield)Department Debates - View all Barry Sheerman's debates with the Department for Education
(9 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Vince Cable
That is an issue that the Minister of State, my right hon. Friend the Member for Sevenoaks (Michael Fallon), the Department for Transport and I will have to examine. As I understand it, under the arrangements that will prevail in 2015, this is very much a matter for the two LEPs involved to exercise their priorities.
Mr Barry Sheerman (Huddersfield) (Lab/Co-op)
Some really good stuff has happened under the regional growth fund, and I am glad to see the next round, but it is still not enough. We are still not getting borrowing for start-ups. New entrepreneurs are not being encouraged enough, and we are not using crowdfunding and crowdsourcing enough. What will the Secretary of State do to increase the number of young entrepreneurs who have access to capital so that they can make a difference?
Vince Cable
First, I thank the hon. Gentleman for his constructive remarks at the beginning. On funding, he will be pleased to know that under the StartUp loan scheme, we now have 13,000 loans that have been disbursed. They operate through the Business Bank, which is also funding crowdfunding, and it is operating on a significant scale and accelerating fast.