Oral Answers to Questions

Barry Sheerman Excerpts

Thursday 23rd March 2023 Commons Chamber

[Kevin Hollinrake]

That is an interesting point. That relationship between banks and post offices is important for post offices and the banks, so we urge for fair terms to be struck. We also have concerns about the banking deposit limits that were introduced recently to cover money laundering issues. I am looking into that in great detail and at great pace to ensure that those issues are resolved, because they are limiting remuneration for postmasters, too. I am very happy to take that forward.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

The Minister will know that my constituency has large rural areas and lots of farmers. Like many microbusinesses, they have difficulty in getting a bank account at all. Could he do something or talk to other colleagues about it? Social and trade enterprises cannot get a bank account. Could we get some action on that?

[Kevin Hollinrake]

If the hon. Gentleman writes to me about specific instances, I will be very happy to look at them. There has been a significant increase in the number of new banks entering the marketplace, such as Starling Bank and Tide, so it is getting easier to open a bank account. I know that it is difficult with some of the larger banks. I am very happy to look into the specific instances that he refers to and see if we can help.

--- Later in debate ---

[Kevin Hollinrake]

The retail sector is benefiting from the £13.6 billion of business rates support and the 75% discount up to £110,000 per premises. These are difficult times for many businesses, not least retail, but we are keen to ensure that we end up on a fair and level playing field. Also, businesses will benefit from the economic turnaround that we expect later this year.

[Mr Barry Sheerman (Huddersfield) (Lab/Co-op)]

Is the Secretary of State aware of just how much wonderful research is going on in our universities in medical technology, environmental technology and all the rest? Will she do something to make our universities more entrepreneurial? Some are lagging in their expertise. What can we do to make universities partner with business to make them more entrepreneurial?

[Kemi Badenoch]

The hon. Gentleman is right that we want universities to become more entrepreneurial. We had fantastic work at Oxford University with AstraZeneca. Many of them are doing quite well. I am keen to hear his suggestions of what I can do to encourage universities. The Secretary of State for Science, Innovation and Technology is working on this issue, but from a business perspective, we want to ensure that we are continuing to facilitate relationships with both businesses and universities, especially in clusters where universities are essential to the local economy.