Covid-19: Supply Chains - Question

Part of the debate – in the House of Lords at 3:09 pm on 22nd June 2020.

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Photo of Baroness Bloomfield of Hinton Waldrist Baroness Bloomfield of Hinton Waldrist Baroness in Waiting (HM Household) (Whip) 3:09 pm, 22nd June 2020

As always, my noble friend displays her credentials as a champion for business. This is a Government who consistently aim to create a strong environment for enterprise, but business needs three things: it needs the markets, and in that regard the Government continually announce measures that will increase confidence in the economy as we move forward through the pandemic; it needs finance—the British Business Bank, a centre of excellence for SME finance, administers the new Future Fund announced in May, which is securing match funding for the private sector to new businesses; and it needs increased productivity through increasing use of technology, as advocated by the Mayhew report, of which my noble friend will be aware, and championed by B4 Business, a charity financially supported by government funds. Only by working on all three fronts can we create the environment in which new small businesses will thrive.