(4 years, 6 months ago)
Commons ChamberYou ain’t no Deputy, Mr Speaker!
Increasing productivity is the best way to boost wages and improve living standards. We have worked hard to build a stronger, fairer economy, dealing with the deficit, helping people into work, and cutting taxes for families and businesses.
I thank my hon. Friend for all the work that he has done to put the UK at the forefront of the fourth industrial revolution. He is right to raise the importance of research and development. We are committed to investing an additional £7 billion in R&D by 2021-22 —the largest increase in 40 years—and, as my hon. Friend will know, in our manifesto we committed ourselves to going even further.