Industry and Exports (Financial Support) Bill

I notice that the hon. Gentleman said absolutely nothing about equity, which we were just discussing. His party has not costed his proposal for a national loan guarantee scheme. It looks very similar to the working capital scheme that we have introduced, but I do not want to play party politics with who thought the idea up first. However, it is clear that the working capital scheme will provide support for existing credit lines of companies. It is providing real help for business, and the hon. Gentleman ought to welcome it. The hon. Gentleman also asked about the scheme announced in the pre-Budget report on support for credit. As I hoped he would recognise, given that we have made this clear on a number of occasions, the £1 billion scheme that we announced then was turned into the £10 billion working capital scheme support programme that we have now announced, so we are getting on with delivering on that commitment. The hon. Member for Solihull (Lorely Burt) made a number of points. Let me pick up on what she had to say about trade credit insurance. I appreciate the financial problems that a number of companies have as a result of the withdrawal of that insurance. As she knows, we are looking into these issues, because we are determined to do all we can to ensure that healthy and viable businesses survive. It is a complex area and it is essential that any intervention that might be designed is able to make a real difference. We should not be opening the taxpayer up to unacceptable risk, so there are some important issues there. The hon. Lady also mentioned regulation on business more generally. As she knows, we look very carefully at any plans for further regulations. We have a small business impact test, and common commencement dates for any regulations that need to be introduced, but she is right to say that we should be looking at regulation on business particularly closely during these difficult economic times.