ARTICLE...
The New Look BIS
With the recent election still fresh in the memory, there have been some big changes in Whitehall and Westminster – not least in the Department for Business, Innovation and Skills (BIS).
In this brief introduction to the new political movers and shakers in charge of this vital part of government, we focus on three of the leading ministers involved:
Vince Cable, Lib Dem
Business Secretary
One of the City's fiercest critics during the downturn, Vince Cable will find plenty to get his teeth into in his new role as business secretary. The 67-year-old has announced a review on all existing business regulation and pledged a 'one in, one out' policy on all future laws.
Edward Davey, Lib Dem
Minister for Employment, Consumer and Postal Affairs
Although relatively unknown, 'Ed' Davey will oversee the OFT's huge ongoing consultations into consumer credit and irresponsible lending. The axing of the FSA means Ed will also need to deal with problems surrounding the lending codes and debt issues – effectively walking a tightrope between economic recovery and fair treatment of customers.
Mark Prisk, Conservative
Minister of State for Business & Enterprise
Despite only recently coming to the role, Mark Prisk has already faced calls from small businesses to improve lending from banks and to give Companies House the power to name and shame notorious 'late payers'. Mr Prisk has also been vocal in axing Business Link, replacing it with face-to-face support for small businesses.
Original article courtesy of Credit Today.
