Small Business

Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 11:30 am on 7 April 2005.

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Photo of Nigel Griffiths Nigel Griffiths Parliamentary Under-Secretary, Department of Trade and Industry 11:30, 7 April 2005

The hon. Member is leaving the House, and the House will be the poorer for losing somebody with business experience. We all wish him well.

Yes, of course, we have read the Arculus report. As the Secretary of State and the Chancellor have made clear, elements of it are being examined and are being implemented—in fact, the bulk of the recommendations—but I do not take lessons from the party that introduced 51,599 regulations. The important thing is that the way we have tackled regulations means that a record number of small businesses started in Britain last year, and the survival rates are the best for a decade. Last year, 445,000 businesses were started. That is more than 1,000 businesses for every working day. We are the party of business growth.