Industry and Exports (Financial Support) Bill

No, I am not saying that. I want to draw a distinction between schemes that have been in the annual report previously and new schemes that the Government have introduced. As the hon. Gentleman will be aware, the automotive assistance programme was launched only on 27 January this year. It is a new scheme and, as with all new schemes, it had to go through a process of securing EU state aid approval, which was granted on 27 February. We are in detailed discussions with several automotive companies about the programme. He will be aware of the recent announcements made under the European Investment Bank element of the programme whereby Jaguar Land Rover and Nissan have been offered loans by the EIB. We will want to report to Parliament on the automotive assistance programme and on other programmes in due course, because we believe that there should be full accountability in this area. The hon. Gentleman will also be aware that the enterprise finance guarantee scheme, which replaced the small firms loan guarantee scheme, is now very much up and running. It is spending significant sums of money, to the tune of about £30 million in loans offered every week. The latest figures that I have seen show that well over 2,000 businesses have made applications to it. I think that it is now time for the hon. Gentleman and the hon. Member for Solihull to welcome the new scheme and to recognise that the Government have introduced it in a remarkably short period, and that it is providing valued support to companies and helping to make a difference to those that are receiving it.