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Stakeholder Pensions
Mr. Pollard: To ask the Secretary of State for Trade and Industry what measures he is taking to liaise with the Secretary of State for Social Security to ensure that the introduction of stakeholder pension schemes are introduced in a way which minimises the regulatory impact and cost of compliance for small businesses. [105599]
Ms Hewitt:
As a result of the consultation process, one of the key decisions on stakeholder pensions announced by the Secretary of State for Social Security on 10 January 2000, Official Report, columns 79-80W was that
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businesses with fewer than five employees will not be required to provide access to a scheme, thus minimising the additional burden for small businesses. My officials in the Small Business Service are in continuing discussions with their counterparts in the Department for Social Security, and with representative bodies, specifically on how the potential administrative burden on employers can be kept to a minimum.
Mr. Hoyle:
To ask the Secretary of State for Trade and Industry what (1) financial assistance is available to new businesses in non-assisted areas; [105274]
Mr. Caborn:
Financial Assistance to companies in non-Assisted Areas is restricted to SMEs. The Secretary of State announced on 10 November 1999, Official Report, column 629W, proposals for a new Enterprise Grant scheme for SMEs which will be available in certain specified non-Assisted Areas, as well as the Assisted Areas. This is a discretionary scheme offering a grant of up to 15 per cent. of fixed capital costs on projects of less than £500,000 (7½ per cent. in the case of medium sized firms in the specified non-Assisted Areas), with a maximum grant of £75,000. Both new businesses and existing companies seeking to expand are eligible to apply. Further details of the scheme can be found in the scheme brochure, copies of which have been placed in the Library of the House. In addition, the Small Firms Loan Guarantee Scheme continues to support small firms nationally by providing a Government Guarantee, against default by borrowers, to high street banks and other financial bodies. Loans under the Scheme can be between £5,000 and £250,000 to both new and existing businesses which are looking to expand.
Dr. Cable:
To ask the Secretary of State for Trade and Industry if he will list for each member of the ECGD Advisory Committee how much ECGD business has been undertaken in respect of which the member has a declared financial interest. [105419]
Mr. Caborn:
The amount of business for which ECGD has provided cover for companies or banks in which EGAC members have declared a financial interest is as follows:
(2) what financial assistance he will provide for company expansion in non-assisted areas. [105273]
(12) The figures are for finance provided by the banks either as sole lender or member of a lending syndicate (principal amounts only).
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Dr. Cable: To ask the Secretary of State for Trade and Industry which countries are off cover for medium/long-term ECGD export credit cover. [105478]
Mr. Caborn: The table shows, from information readily available, those markets where there is no medium/long-term cover available.
Note:
As at 15 January 2000
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EU Structural Funds
Ms Atherton: To ask the Secretary of State for Trade and Industry what guidance he has given on the retrospective funding of projects under the forthcoming Objective 1 Programme. [105523]
Mr. Caborn:
The Structural Funds General Regulation sets out when retrospective funding of projects is permitted. For the UK's Objective 1 programmes this is the date on which the Commission
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deem they had received an acceptable draft of the programme. For the Cornwall and the Isles of Scilly programme, this is 3 November 1999.
It has always been a matter for Programme Monitoring Committees to decide whether, and to what extent, they wish to use any retrospection.
Dr. Brand:
To ask the Secretary of State for Trade and Industry when he will announce (a) the criteria for the tier 3 grant up to £75,000 and (b) the amount available to the regions of England; and if he will make a statement. [106152]
Mr. Caborn:
The information is as follows:
(a) My right hon. Friend the Secretary of State announced on 10 November 1999, Official Report, column 629W, a new discretionary Enterprise Grant scheme which would be available to SMEs in tier 3 and the Assisted Areas of the English regions. The aim is to target high quality projects with fixed capital investment of up to £500,000. There will be some regional variation in the delivery of the scheme through the Government Offices, taking account of the economic strategies of the Regional Development Agencies. Further details of the scheme's core criteria can be found in the scheme brochure, copies of which I have placed in the Libraries of the Houses.
| Region | Allocation for 2000-01 |
|---|---|
| East | 300 |
| East Midlands | 1,200 |
| London | 300 |
| North East | 3,000 |
| North West | 3,600 |
| South East | 900 |
| South West | 450 |
| West Midlands | 3,150 |
| Yorkshire and Humberside | 2,100 |
| Total | 15,000 |
National Minimum Wage
Dr. Cable: To ask the Secretary of State for Trade and Industry if he will quantify the impact of a minimum wage increase to (a) £4, (b) £4.50 and (c) £5 per hour on (i) employment, (ii) price levels and (iii) Government expenditure. [105916]
Mr. Alan Johnson:
Measuring the effect of hypothetical levels of the national minimum wage on employment, price levels and Government expenditure is a highly complex task and the impacts would be difficult to quantify. For the last nine months the Low Pay Commission has carried out a thorough empirical study of the impact of the actual minimum wage since its introduction, and that report will be published soon. Neither the Government nor the Low Pay Commission
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has carried out detailed modelling on the scenarios given in the question, and could not do so except at a disproportionate cost.
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