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Question
Paid tribute to the Duke of Edinburgh, criticised Chancellor's absence from debate and raised concerns about Greensill Capital's access to CLBILS. Questioned why Greensill was allowed access despite previous rejections and highlighted risks to public money and jobs.
Minister reply
Minister associated himself with MP’s comments on the Duke of Edinburgh and Cheryl Gillan, stated that Chancellor provided comprehensive response last week, initiated a review by Nigel Boardman for transparency. Emphasised independent decision-making process by British Business Bank.
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Question
Asked if all dealings with Greensill adhered to appropriate codes of conduct.
Minister reply
Minister confirmed that decisions were taken independently and in accordance with codes of conduct, including rejection of Greensill's request for higher loan facility.
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Question
Expressed condolences, criticised cronyism within government, highlighted concerns about VIP lists and lack of transparency.
Minister reply
Minister acknowledged the questions raised were slightly off-topic but assured that the review will be conducted thoroughly with co-operation from all parties.
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Question
Asked to confirm checks in place for businesses benefiting from CBILs and measures against fraud.
Minister reply
Minister confirmed robust procedures for applications, highlighted HMRC's role in preventing fraudulent abuse of schemes.
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Question
Asked the Secretary of State for Business, Energy and Industrial Strategy whether a list of all organisations that have received loans under various schemes would be made available, highlighting issues of transparency in support distribution.
Minister reply
The Minister stated that during the delivery phase, speed was prioritised over documentation. He noted that larger loan recipients will appear in their accounts and can be reported to the EU for state aid purposes.
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Question
Inquired about recommitting to anti-corruption promises made by David Cameron’s administration and ensuring transparency in any changes resulting from ongoing inquiries.
Minister reply
The Minister affirmed his commitment to tackling actual corruption while maintaining perspective. He assured that the Chancellor rejected suggestions for altering schemes like CCFF.
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Question
Asked about Bank of England officials' involvement in modifying its Corporate Financing Facility to suit Greensill Capital, based on a text message from David Cameron.
Minister reply
The Minister confirmed that the Chancellor rejected any notion to rewrite the CCFF scheme.
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Question
Requested reforms in the audit regulatory system following the Greensill scandal, specifically highlighting Grant Thornton's role.
Minister reply
The Minister expressed support for ongoing consultations on audit reforms to ensure transparency and fairness.
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Question
Critiqued the Government’s lack of transparency during the pandemic, questioning if a six-week inquiry is sufficient for thorough investigation.
Minister reply
The Minister acknowledged the need to review financial distribution but emphasised the speed required in crisis situations.
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Question
Defended the accreditation process that allowed diverse lenders to become accredited under various schemes, focusing on borrower choice.
Minister reply
The Minister agreed with the importance of providing a variety of lending options for businesses in need.
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Question
Inquired if Ministers would resign if found breaching the ministerial code during the Greensill scandal investigation.
Minister reply
The Minister assured that the review will determine actions, and all parties involved have committed to transparency.
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Question
Acknowledged the necessity of swift action at the start of the pandemic to protect SMEs.
Minister reply
The Minister agreed that flexibility and diversity in lending were crucial for supporting businesses of all sizes.
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Question
Challenged the interpretation of 'whatever it takes' support, questioning if efforts focused on specific individuals rather than excluded self-employed workers.
Minister reply
The Minister highlighted that extensive consultations were held with businesses and lenders to tailor support effectively.
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Mike Wood
Con
Kingswinford and South Staffordshire
Question
Asked if the Department would continue looking at all options for support distribution rather than traditional processes.
Minister reply
The Minister affirmed that flexibility remains crucial as they navigate reopening and recovery phases.
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Question
Inquired about alternative arrangements explored by the Chancellor regarding Greensill, questioning its importance in receiving public funds despite Bank of England refusal.
Minister reply
The Minister explained that Greensill’s involvement was for CLBILS rather than CCFF, and any expansion requests were from opposition parties.
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Question
The Chancellor is criticised for washing his hands of the covid public lending schemes, despite receiving lobbying texts from David Cameron. What does the Minister think about this situation?
Minister reply
The Chancellor has delivered £356 billion-worth of support to businesses through various loan schemes overseen by BEIS and its British Business Bank. The Minister emphasises that these processes are working well and that the Chancellor is not afraid of anything.
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Question
What conversations has the Minister had with German prosecutors regarding the CLBILS loan scheme, especially since Greensill Capital is under criminal investigation?
Minister reply
The British Business Bank opened an investigation into Greensill Capital's compliance in October 2020. The obligations as guarantor of the CLBILS scheme are suspended on a precautionary basis but further investigations are ongoing.
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Question
Does the Minister agree that it is unacceptable for former and current Tory Ministers to be involved in lobbying for financial benefits, potentially risking taxpayers' money?
Minister reply
The Minister suggests that if MPs want the Chancellor to answer questions, they should ask them about Treasury responsibilities rather than BEIS. He emphasises that the system has worked as intended.
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Question
Will the Government implement recommendations from the Intelligence and Security Committee to safeguard transparency in decision making, particularly regarding appointments of Lords for boards?
Minister reply
The review specifically looks at supply chain finance and discussions with Greensill. Nigel Boardman will report back by the end of June.
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Question
Why did Greensill Capital receive 10 meetings with Treasury officials while other businesses waited months for a reply, and why is this considered a system working well?
Minister reply
Treasury Ministers met lenders of various sorts to understand their models and support. The accreditation was determined independently by the British Business Bank.
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Question
Why did Greensill Capital meet Treasury officials more frequently than other loan scheme lenders, and is a short inquiry enough or should it be replaced with a public inquiry into Government actions?
Minister reply
The review goes beyond the actions of one man. The Chancellor rejected what Greensill wanted to change about CCFF, which was out of hand.
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Question
Why did Greensill Capital meet Treasury officials 10 times last summer when no other lender had more than two meetings?
Minister reply
Lenders and businesses had many meetings across Government to ensure a diversity of lenders and adjust the schemes as necessary.
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Question
Why did David Cameron refuse to adopt amendments that would bring greater transparency to corporate lobbying seven years ago, and is it time to correct this oversight?
Minister reply
The lobbying register should work transparently, and we need to review activities to ensure they are transparent.
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Question
Is there a breach of British values that high office is not a route to personal wealth, and how can the Minister stop lobbying within Westminster and Whitehall to rebuild public trust?
Minister reply
The Minister explains the difference between an output and outcome, emphasising that the Chancellor rejected Greensill's requests.
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Question
How do the Government propose to rebuild public trust following another scandal related to covid contracts?
Minister reply
The Minister emphasises robust actions by the Chancellor, ongoing investigations, and a review scheduled to report back at the end of June.
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Question
Was there any communication between Ministers or civil servants and the British Business Bank about Greensill's access to the CLBILS scheme?
Minister reply
There was no communication from Ministers regarding Greensill’s accreditation, which was independent. An ongoing investigation is in place.
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Question
Does the Minister now agree that David Cameron was and remains dodgy, given his unparliamentary language towards the former Prime Minister five years ago?
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Question
Will the Minister stop hiding details and publish a timeline of every meeting, call, text message, and conversation between David Cameron and current Conservative Government members and officials regarding lobbying?
Minister reply
The Chancellor has published his text messages and there is a review that will go into detail. All parties involved have pledged to comply with the investigation, which will report back by the end of June.
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Question
Why did Greensill Capital receive 10 meetings and a ream of correspondence from Treasury officials while millions were excluded from Government support? Why is a private company advising Treasury officials about political positioning?
Minister reply
As BEIS Minister, I am here to answer questions relevant to my department. The Chancellor rejected the proposal Greensill Capital made, but the details will be investigated by Nigel Boardman with results published by the end of June.
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Question
Will the Minister support an independent investigation into the distribution of covid contracts to Tory donors and friends?
Minister reply
I do not recognise the name used by the hon. Gentleman for the former Prime Minister, which I think is inappropriate. There is a review investigating these matters as we speak. The Government will look back at what has happened during the pandemic once it ends.