Oral Answers to Questions

Gemma Doyle Excerpts

Wednesday 17th November 2010 Commons Chamber

[The Prime Minister]

My hon. Friend has spoken up very passionately—and rightly—about that issue, because one of the keys to securing recovery is to get bank lending going. His points are extremely valid. A bank-led £1.5 billion business growth fund is providing finance to SMEs and we have added to that with the enterprise capital funds programme and the enterprise finance guarantee. That should secure an extra £2 billion of lending, but I agree with him that we need to be vigilant on the issue and to keep pressurising the banks to do more to help those small businesses.

[Gemma Doyle (West Dunbartonshire) (Lab/Co-op)]

Q14. Reports suggest that as many as 1,700 of my constituents will lose their jobs as a direct consequence of the Government’s spending cuts. What action will the Prime Minister take to ensure that unemployment in West Dunbartonshire does not reach the levels that it did under the last Tory Government?

[The Prime Minister]

What we have to do—the hon. Lady is right—is make sure that there is a private sector-led recovery. That is why we have low interest rates, corporation tax coming down, cuts in national insurance for new firms that are hiring people and less regulation. We have all those advantages as an economy and we need to engineer a private sector-led recovery. The unemployment figures today, which I notice that the right hon. and learned Member for Camberwell and Peckham (Ms Harman) did not go anywhere near, are a good sign that that private sector-led recovery is under way.