Industry and Exports (Financial Support) Bill

I shall be brief, Sir Alan, as most of what I want to say will come towards the end of our proceedings. On Second Reading, the Minister described a wide range of schemes that the legislation will cover, and the Liberal Democrats, too, welcome the emphasis moving from grants to loans and loan guarantees, because it creates a fairer playing field for industry generally and should constitute better value for money for the taxpayer. We welcome also the increase to £12 billion and the potential increase to £16 billion. We appreciate that to elicit the loan guarantees, companies must undertake proper due diligence. However, hon. Members in all parts of the House have criticised the fact that the release of funds to companies, especially to small companies that are not seeking to borrow vast sums, is taking an inordinately long time. Will the Minister comment on the steps that are being taken to expedite the due diligence? The Government quite properly require it, but it can slow things up and is putting small businesses, in particular, which need help fast, beyond the reach of the schemes that were designed to help them.