Oral Answers to Questions

Debate between Graham Allen and Vince Cable

Thursday 3rd June 2010 Commons Chamber

[Mr Graham Allen (Nottingham North) (Lab)]

I congratulate the Secretary of State on his appointment. May I also congratulate him on what he said before the election about ensuring that bank lending would be improved, so that cities that are in recovery from the recession, such as the city of Nottingham, can see the cash flow coming into businesses to ensure that they go from recovery to prosperity?

[Vince Cable]

I thank the hon. Gentleman for his welcome, and I am grateful to him for allowing this crucial subject to surface at last. The major factor in inhibiting the growth of business, particularly among small and medium-sized enterprises, is the lack of access to credit. It is the firm intention of this Government to ensure, through a combination of loan agreements, guarantees and other mechanisms, that that credit will indeed flow. I shall be working with the Chancellor on this.