Cable outlines industrial plans
Vince Cable has indicated improving access to finance for businesses will be a key part of the Government’s new industrial strategy which he will set out in more detail tomorrow.
Speaking in the House of Commons after Labour was granted an Urgent Question, the Business Secretary confirmed the Government was “actively looking” at the possibility of setting up a business bank to improve access to finance.
Other key areas he highlighted were dealing with problems sector-by-sector, improving technology, better skills for workers, and changing public sector procurement.
Dr Cable’s Labour counterpart Chuka Umunna was given the opportunity to scrutinise the plans ahead of the Business Secretary's announcement tomorrow.
Earlier today, the Business Department unveiled plans to exempt thousands of small businesses from health and safety regulations. At least 3,000 regulations, which some businesses have complained are holding them back, are to be removed.
Dr Cable promised the Government would now be "holding departments' feet to the fire to ensure all unnecessary red tape is cut".