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Press Cycle 20: Enterprise Bank
#1
What do you think of the Government's proposal to create an Enterprise Bank?

Cycle closes at 23:59 on the 27th of October.

Please remember to bold your taglines. One-liners are discouraged.
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#2
I am delighted to lend my support to this important piece of legislation which will make it easier for our entrepreneurs to access the capital they need to grow. This is particularly important for micro-businesses and younger innovators who may not be best served by the traditional banking sector.

New enterprises are a vital source of new jobs and ideas, both of which help to strengthen our economy and prosperity. I welcome the fact that the government understands and wishes to nourish this dynamic.

The Enterprise Bank Act signals that the United Kingdom is open for business.
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Mrs. Margo Leadbetter
Home Secretary and Secretary of State for DEFRA
Conservative MP for Surbiton
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#3
I am glad to see the government take a productive step in the right direction. We can speak of economic growth, but the crux of this issue is that this is about helping innovators, entrepreneurs and hard workers succeed and not be held back because they may not be wealthy or well connected. It is proof there is more to a comprehensive pro-business policy than a tax cut here and a tax cut there.

The Labour Party will work cross party with the government to not only pass this bill, but to ensure it is the strongest it can be which is why I will support this bill and table some amendments.
Labour - Liverpool Riverside.
Shadow Chancellor
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#4
For an Enterprise Bank to be successful we must ensure that any of its funding goes to SMEs: it is they who struggle to obtain capital, and any enterprise bank which throws money wherever it can fails to fulfil its purpose. The amendments I tabled ensured rigorous standards prevent this form of corporate welfare, ensuring the bank injects capital to where it is most needed. I am disappointed the government have not responded, and hope they vote in favour of these amendments.
Labour - Liverpool Riverside.
Shadow Chancellor
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#5
Through promoting the growth of small and medium businesses, the Enterprise Bank is a clear precursor to ground-up, mass-innovation in British goods and services. By allowing new and established self starters access to fresh streams of capital investment, we're creating a reinvigorated playing field of intense competition - leading to more innovation, higher quality goods, and lower prices for consumers. It's so good, even the opposition are signing up to it.
Dr Lucy Robert
MP for Canterbury
Chancellor of the Exchequer
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#6
The EB is a quadruple win: for SMEs, consumers, investors, and the taxpayer. With a solid, government backed, financial base, it has huge scope to deliver sustainable and invigorating investment in up-and-coming businesses, whilst equally injecting substantial dividends straight into the Exchequer. With a maximum of 65% of profit being taken as a windfall by owners, the £5bn worth of shares that could be offered in an initial sale round makes the EB a more than attractive prospect, and one that will certainly deliver profits to the taxpayer that outweigh its initial investment requirements. As the government will be guaranteed to own just under two thirds of the bank, we can anticipate scenarios in which more than 40% of profits help to fund our public services, pay down our national debt, or reduce the taxation burden. This is everyone profiting on the success of British businesses.
Dr Lucy Robert
MP for Canterbury
Chancellor of the Exchequer
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#7
The EB is what sensible government looks like. Upon its accession, we’ll be successfully giving huge numbers of smaller operations in the private sector the support they need to get going, allowing for public-private cooperation that avoids slapping on red tape and regulation. We’re pioneering a new economic model, which gives the private sector advantages where it needs them, without trampling all over innovation. Everybody benefits from the success of British startups and go getter entrepreneurs - we’re giving them the wings that will let them soar.
Dr Lucy Robert
MP for Canterbury
Chancellor of the Exchequer
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#8
With Labour’s amendments attached this bill is good for small businesses. We need to be encouraging our citizens to become entrepreneurs, creating jobs and goods for every community. However we need to ensure that the EB does not become a funnel for corporate welfare and instead works to create a vibrant local economy.
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#9
I am proud to support the Government's Enterprise Bank, which will leverage free market principles to provide much-needed capital investment to entrepreneurs and small enterprises. This is the kind of forward-looking policy that we are proud to support as Conservatives: a bill brought by our Prime Minister in order to promote jobs and encourage innovation. The structure of the bank is sensible, the purpose noble, and under this government, its execution will be carried out with all necessary attention to detail: in short, it will be yet another broad-reaching success of this Conservative Government.
Lewis Graves
Conservative MP for Salisbury (1983-present)
Secretary of State for Foreign and Commonwealth Affairs (1994-present)
Former Prime Minister of the United Kingdom (1994)
(Recks)
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#10
As with its budget, the government seemingly wants to go in the right direction but is executing that direction irresponsibly - thankfully, Labour is cleaning up its mess. 

The Prime Minister could only deliver one line in support of the bill, which I greatly expanded on as well as offering sensible amendments to stop the Enterprise Bank being too prone to being manipulated by government and susceptible to corporatism and corporate welfare. The government could not even spare the time to comment on the points I had made or the amendments I had proposed. Thankfully, the government has accepted the amendments tabled forwards - but this bill shows it has a long way to go in terms of competence.
Labour - Liverpool Riverside.
Shadow Chancellor
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