Upcoming Business – Lords: Select Committee (9 Jan 2018)
Economic Affairs Committee: The economics of higher, further and technical education. 3:30 pm; Room 1, Palace of Westminster
Witnesses: (at 3:35 PM) Rt Hon Greg Clark MP

Previous Business – Commons: Select Committee (29 Nov 2017)
Business, Energy and Industrial Strategy: Work of the Department. 10:00 am; Room 5, Palace of Westminster
Witnesses: The Rt Hon Greg Clark MP, Secretary of State for Business, Energy and Industrial Strategy Claire Perry MP, Minister of State for Climate Change and Industry, Department for Business, Energy and Industrial Strategy Alex Chisholm, Permanent Secretary, Department for Business, Energy and Industrial Strategy Gareth Davies, Director General, Business and Science, Department for Business, Energy...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: Let me make some progress now, because I am about to come on to the points that hon. Members are raising. Last week’s Budget outlined the biggest increase in public research and development investment for 40 years. It is growing as a share of GDP and contributing to our commitment to invest 2.4% of GDP in research and development by 2027, rising to 3% in the long term. One aspect of...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I will indeed. Throughout my time in this House and in this Government, I have promoted the importance of places and local leadership, and of ensuring that investment decisions benefit from local knowledge and local decisions. The Budget and the industrial strategy reinforce that. To have a prosperous United Kingdom, every part of it needs to be maximising its potential, so the strategy very...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: It is a great pleasure to open this final day of the Budget debate. In his Budget statement last week, the Chancellor described the choice before our country, standing as we do on the brink of a technological revolution—a choice between embracing the future, building on our strengths and taking our place as one of the nations at the forefront of the new world of innovation, or rejecting...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I am happy to talk to the hon. Gentleman. He will know that we work closely with the life sciences sector. The industrial strategy published yesterday included an important life sciences sector deal in which all the companies are working closely with each other, local institutions, local leaders and the Government. I am happy in that context to meet him and have those discussions.

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: My hon. Friend is absolutely right to say that hydrogen offers big advantages. It is a clean fuel, and this country has great expertise in developing and applying it. Let me say something about business finance, which has already come up in the debate. In a strategy that connects our areas of strength, it is essential that we allow the businesses that are growing across our country to benefit...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I will indeed. I am coming on to precisely that point. The hon. Gentleman has a distinguished record of leading Greater Manchester—with some success—in promoting the vitality and attractiveness of that important part of the economy.

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I am conscious that many Members want to speak and the hon. Gentleman is tempting me into a discussion that would take more time than I have. However, our future as a successful economy is about trading more with Europe and the rest of the world. That should be free of tariffs and free of friction, and that is what we want to achieve through our negotiations. None of the investment in and...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: Contracts for difference have brought down the price of renewable energy substantially. We have commissioned a review from Professor Dieter Helm—I know that the right hon. Gentleman knows him well—which has reported, and we will make our response to it. It would be wrong to pre-empt our consideration of that, but I hope that the right hon. Gentleman and others will give their...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: It is my view that we need to have a broad base of power supplies for our security in the future. We are now the world leader in offshore wind, which demonstrates that one comes not at the expense of the other, and that is the right and prudent way to proceed. We have many world-leading industries, from financial services to advanced manufacturing, from the life sciences to the creative...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: It certainly is. There are significant opportunities in many of our rural areas, and it is essential that the progress we make in our towns and cities is shared with our rural areas, of which my hon. Friend’s constituency is a particularly attractive and productive example.

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I know that my hon. Friend takes a great interest in this. We have an energy innovation programme, about which we will make some announcements before long. That will address the question of what types of technologies should be moved along from research to development and implementation. He will have an interest in that and I will make sure that he is given the details. To capitalise on our...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I have indeed, and I will come on to that in a moment, if my hon. Friend will bear with me. Let me say something about skills. We are creating new job opportunities, but I say to the hon. Member for Na h-Eileanan an Iar (Angus Brendan MacNeil), who raised a point about robots, that if jobs change, we need to ensure that people have the ability to train and develop the skills they will need...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I am grateful to my hon. Friend. That is a good illustration of how a strategy can bring forces together. That £5 million investment means that the infrastructure in and around Cambridge can be improved, and that will make the area even more attractive for companies and researchers to locate there, and it builds on the area’s strengths. The part of the world that she and the...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I think the hon. Gentleman misunderstands what was said. The OBR recognised that its forecast that the productivity rate would recover after the financial crisis, which it has been making for many years, has not been realised. There has been no new event; it has just recognised what has happened, which has had consequences for the financial forecasts. Faced with that, the right thing to do is...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I absolutely recognise that one of the big strengths of the east midlands is that it is connected to the rest of the country, and it is essential that those connections continue to improve. The hon. Gentleman will know that a fund was established in the Budget for cities and city regions to improve the connections in and around those cities. That is important, but it is in addition to the...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I will take that representation. My hon. Friend is right that the performance of the east midlands has been extremely positive. Some of its institutions—I think of universities in Leicester and Loughborough—are having a huge impact on the local economy. I look forward to visiting Leicestershire again soon to have discussions as part of the plan for local industrial strategies. I...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: We need to embrace the technologies of the future. If we are in the lead, we can benefit from being the place that develops, applies and manufactures many of these products. Whenever we have taken the lead in this country, we have reaped the benefits. It is in those areas where we have lost our advantage that we have ended up importing goods and services from around the world. We need to lean...

Budget Resolutions - Income Tax (Charge) (28 Nov 2017)
Greg Clark: I am about to conclude. If we want a strong, competitive economy that is fit for the future, we need to live within our means, create good jobs and pay people well. We need to be a beacon of free trade and internationalism. That is what our industrial strategy and this Budget are about. Prosperity for all is the best alternative to the high-tax, anti-enterprise, job-destroying ideology that...


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