Oral Answers to Questions

Mark Menzies Excerpts

Thursday 21st March 2013 Commons Chamber

[Jo Swinson]

The short answer is yes. The hon. Gentleman is quite right to say that consumer awareness is vital. Some of the people who take out such loans would be much better off with an entirely different financial product. That is why advertising is such an important element in tackling the issue. The Government are working with the Advertising Standards Authority and we will also work with the Financial Conduct Authority, which will take over those powers from next year, to ensure that we clamp down on advertising that misleads people and lures them into taking out products that are not right for them.

[Mark Menzies (Fylde) (Con)]

T8. The north-west is at the heart of Britain’s aerospace industry, and I welcome this week’s announcement of the £2 billion aerospace technology institute. May I urge the Minister to consider the Warton enterprise zone in my constituency as a potential location for it?

[Michael Fallon]

We will certainly do that. The aerospace industry received an enormous boost on Monday with the announcement of £1.5 billion that is to be shared, along with another £1 billion from the private sector. I hope that that will give the industry the confidence to invest, right across the remainder of this Parliament and through to the end of the next one, in what is already one of Britain’s great success stories.