Statement on the publication of the seventh report from the Business and Trade Committee, Industrial Strategy, (HC 727).

Statement on the publication of the seventh report from the Business and Trade Committee, Industrial Strategy, (HC 727).

I rise to commend to the House the seventh report of our Select Committee and the combined brilliance of Committee members in setting out a plan, a blueprint and a framework for scrutiny of the industrial strategy, which is still to come.

Our report starts with a note of optimism, because...

I rise to commend to the House the seventh report of our Select Committee and the combined brilliance of Committee members in setting out a plan, a blueprint and a framework for scrutiny of the industrial strategy, which is still to come.

Our report starts with a note of optimism, because...

I thank the Chair of the Business and Trade Committee for his hard work. It is really heartening that the report has received cross-party support on the Committee and across the House. This is about growth and the economy, which affect every single one of our constituents. Does he agree...

I thank the Chair of the Business and Trade Committee for his hard work. It is really heartening that the report has received cross-party support on the Committee and across the House. This is about growth and the economy, which affect every single one of our constituents. Does he agree...

The hon. Gentleman is absolutely right. This report is an awful lot stronger for the raft of amendments that he brought forward, and for the thought and devotion he put into Committee hearings and the interrogation of our witnesses. He is absolutely right because, ultimately, we as a country will...

The hon. Gentleman is absolutely right. This report is an awful lot stronger for the raft of amendments that he brought forward, and for the thought and devotion he put into Committee hearings and the interrogation of our witnesses. He is absolutely right because, ultimately, we as a country will...

I thank the Chair of the Committee for the opportunity to come in on the topic of this important inquiry, which I was glad to be a part of. One of the best days of the inquiry was the day we welcomed a roundtable of small and medium-sized enterprises in...

I thank the Chair of the Committee for the opportunity to come in on the topic of this important inquiry, which I was glad to be a part of. One of the best days of the inquiry was the day we welcomed a roundtable of small and medium-sized enterprises in...

My hon. Friend is absolutely right. The evidence base we were able to assemble was an awful lot stronger because of her connections with small businesses in her constituency and the insights she was able to bring from the world of labour. The point she makes is absolutely right. Past...

My hon. Friend is absolutely right. The evidence base we were able to assemble was an awful lot stronger because of her connections with small businesses in her constituency and the insights she was able to bring from the world of labour. The point she makes is absolutely right. Past...

I congratulate the right hon. Gentleman on his statement and his Committee’s report, which is welcome. The summary clearly says:

“Britain’s economic institutions and markets—especially in public procurement, energy, skills”

and, critically,

“the diffusion of innovation and finance—must be modernised for new times.”

In the spirit of the partnership he spoke of between the...

I congratulate the right hon. Gentleman on his statement and his Committee’s report, which is welcome. The summary clearly says:

“Britain’s economic institutions and markets—especially in public procurement, energy, skills”

and, critically,

“the diffusion of innovation and finance—must be modernised for new times.”

In the spirit of the partnership he spoke of between the...

The hon. Gentleman makes a really important point. We have heard time and again—we heard it in relation to life sciences, defence and clean energy—that we have some of the best thinkers in the world, but they often struggle to get the start-up finance or the scale-up finance they need...

The hon. Gentleman makes a really important point. We have heard time and again—we heard it in relation to life sciences, defence and clean energy—that we have some of the best thinkers in the world, but they often struggle to get the start-up finance or the scale-up finance they need...

I echo the comments of the hon. Member for Dumfries and Galloway (John Cooper) about working across the parties—this is about growth—and about the Chair driving this forward. The 10 tests we have outlined are about how the document has a real-world impact. For me, two of the tests are...

I echo the comments of the hon. Member for Dumfries and Galloway (John Cooper) about working across the parties—this is about growth—and about the Chair driving this forward. The 10 tests we have outlined are about how the document has a real-world impact. For me, two of the tests are...

I am grateful for that question. Again, the report is a lot stronger for the insights my hon. Friend was able to bring to what was a very sustained inquiry. We must recognise that two problems have bedevilled industrial strategies in this country in the past. One is stop-start—we get...

I am grateful for that question. Again, the report is a lot stronger for the insights my hon. Friend was able to bring to what was a very sustained inquiry. We must recognise that two problems have bedevilled industrial strategies in this country in the past. One is stop-start—we get...

I thank the Chair for his leadership; we enjoy being under it. To focus on one thing, energy costs are causing havoc around the country, leading to many companies going to the wall. Does he think this emergency should be to dealt with by cutting energy costs, dealing with the...

I thank the Chair for his leadership; we enjoy being under it. To focus on one thing, energy costs are causing havoc around the country, leading to many companies going to the wall. Does he think this emergency should be to dealt with by cutting energy costs, dealing with the...

The hon. Gentleman is absolutely right. Perhaps the most critical test of the industrial strategy, when it is published, will be whether it brings industrial energy costs down. If it fails that test, it is going to struggle to make progress.

The hon. Gentleman is absolutely right. Perhaps the most critical test of the industrial strategy, when it is published, will be whether it brings industrial energy costs down. If it fails that test, it is going to struggle to make progress.

I thank my right hon. Friend for his excellent chairship of the Committee. He spoke about the grand challenges we face. We heard in the evidence sessions how we have such structural challenges—we have just heard about energy, and we could say the same about skills particularly —so could he...

I thank my right hon. Friend for his excellent chairship of the Committee. He spoke about the grand challenges we face. We heard in the evidence sessions how we have such structural challenges—we have just heard about energy, and we could say the same about skills particularly —so could he...

That is absolutely right. The challenges we face as a country are so large that no one Department, business or sector can solve them on their own. The only way to crack the code of that challenge and to reach our ambitions for the future is by mobilising a whole-of-society...

That is absolutely right. The challenges we face as a country are so large that no one Department, business or sector can solve them on their own. The only way to crack the code of that challenge and to reach our ambitions for the future is by mobilising a whole-of-society...

It seems quite radical to suggest, as the report does, devolving responsibility for post-16 technical education and training to local leaders and transferring responsibility for skills to the Department for Business and Trade. Will the right hon. Gentleman briefly expand on that, and explain how it relates to apprenticeships on...

It seems quite radical to suggest, as the report does, devolving responsibility for post-16 technical education and training to local leaders and transferring responsibility for skills to the Department for Business and Trade. Will the right hon. Gentleman briefly expand on that, and explain how it relates to apprenticeships on...

This was an important area of debate when we were framing our recommendations. We felt that where mayoral areas could show ability—that might be a limited number—they might be much better able to understand the needs of business and to ensure that local technical colleges in particular provide the right...

This was an important area of debate when we were framing our recommendations. We felt that where mayoral areas could show ability—that might be a limited number—they might be much better able to understand the needs of business and to ensure that local technical colleges in particular provide the right...

I thank the Chair for the report, particularly for the framing in which it lands the industrial strategy. From reading the report, I believe there could be greater emphasis on the convening role of higher education—universities—not just as a driver of R&D and skills, but for the industrial clusters in...

I thank the Chair for the report, particularly for the framing in which it lands the industrial strategy. From reading the report, I believe there could be greater emphasis on the convening role of higher education—universities—not just as a driver of R&D and skills, but for the industrial clusters in...

My hon. Friend is right. We have to be careful not to stray too far into the territory of our sister Committee, but once upon a time we built villages around factories; in today’s economy, we need to build local economies around universities. The role of universities in empowering economic...

My hon. Friend is right. We have to be careful not to stray too far into the territory of our sister Committee, but once upon a time we built villages around factories; in today’s economy, we need to build local economies around universities. The role of universities in empowering economic...

I congratulate the Select Committee, the Chair and its members on the publication of the report. Which of the 10 tests ensure that business growth will be ethical, moral and responsible, and which of the tests protect the consumers, the public and the environment?

I congratulate the Select Committee, the Chair and its members on the publication of the report. Which of the 10 tests ensure that business growth will be ethical, moral and responsible, and which of the tests protect the consumers, the public and the environment?