Oral Answers to Questions

Debate between John Glen and Kieran Mullan

Tuesday 15th September 2020 Commons Chamber

[The Economic Secretary to the Treasury (John Glen)]

The hon. Gentleman is right to raise ARM, which is obviously a key employer in his constituency. The Government are taking a very close interest in this transaction. It was pleasing to see yesterday that parties close to the transaction said that the headquarters would remain in Cambridge. It is a matter we are engaging very closely on, and I am very happy to engage with him personally on any questions arising from that.

[Dr Kieran Mullan (Crewe and Nantwich) (Con)]

  Bounce back loans have been vital to many businesses in Crewe and Nantwich. Although they appreciate the help they have had from the scheme, some have been left waiting too long to access the support. For example, Axis Boats in my constituency waited eight weeks. Until it approached me and we worked together on it, it was not able to get the finance. Will my hon. Friend agree to meet me to discuss examples such as this and to ensure that banks are fully playing their part in getting people access to this support?

[John Glen]

My hon. Friend is right to raise this point, which he has raised before. In his constituency, 1,400 businesses have benefited from the bounce back loans from 28 providers across the country, but I am happy to engage with him in relation to the number of cases he has dealt with and see what interventions can be made at this time.