Directors’ Pay

Debate between Baroness Wilcox and Lord Roberts of Conwy

Wednesday 20th June 2012 Lords Chamber

[Lord Roberts of Conwy]

Will my noble friend the Minister confirm that the substance of this Statement will reappear in the form of clauses or amendments to the Enterprise and Regulatory Reform Bill, so we shall all have a further opportunity to examine the various issues?

[Baroness Wilcox]

The answer is yes. Amendments will be laid to the Enterprise and Regulatory Reform Bill. Next week, or soon afterwards, the draft regulations will be published.

Economy: Growth

Debate between Baroness Wilcox and Lord Roberts of Conwy

Wednesday 15th February 2012 Lords Chamber

[Lord Roberts of Conwy]

To ask Her Majesty’s Government what steps they are taking to maintain and promote economic growth across the United Kingdom as a whole.

[The Parliamentary Under-Secretary of State, Department for Business, Innovation and Skills (Baroness Wilcox)]

The Plan for Growth, published alongside the Budget in 2011, set out the Government’s plan to put the United Kingdom on a path to sustainable long-term economic growth. We are creating the right conditions to enable growth, driven by investment and exports and more evenly balanced across the United Kingdom and sectors.

[Lord Roberts of Conwy]

My Lords, I am grateful for that very helpful reply. Are the Government fully aware of the growing economic disparities between the regions of the United Kingdom, accentuated by devolution in the national regions, and do the Government agree that, if we are to maintain the constitutional unity of the United Kingdom, we must present a united front in the regions on investment and economic development, otherwise we shall be in grave danger of drifting apart?

[Baroness Wilcox]

Yes, I agree with my noble friend. That is certainly not something that we want. The Government’s primary objective is balanced growth across the United Kingdom. It is worth remembering that the United Kingdom is still one of the biggest economies in the world and that our combined strength has helped us to weather the recent economic turmoil.

Regional Growth Fund

Debate between Baroness Wilcox and Lord Roberts of Conwy

Tuesday 11th October 2011 Lords Chamber

[Baroness Wilcox]

We have of course created a new enterprise zone in that area especially for this. These are terrible times, and the idea of seeing any jobs go at the moment, certainly in the private sector, goes against everything we wish for growth. That enterprise zone is there and we will put every help we can into that area. The Government’s economic policy objective is to achieve strong, sustainable and balanced growth that is more evenly shared across the country and among industries. We will therefore look very carefully at any other incidence of this happening.

[Lord Roberts of Conwy]

Is my noble friend satisfied that there is sufficient demand for loans on the part of small businesses?

[Baroness Wilcox]

It is quite amazing how much demand there is from small businesses for loans. The great thing about small and medium-sized businesses is that they tend to be very optimistic. I grew up in the world of small and medium-sized enterprises, where, against all the odds, you would very often see someone setting up a business in an area where everybody else said it could not possibly have happened. Yes, we are very encouraged by the amount of requests we are getting.

Economy: Growth

Debate between Baroness Wilcox and Lord Roberts of Conwy

Thursday 9th December 2010 Lords Chamber

[Lord Roberts of Conwy]

To ask Her Majesty’s Government what steps they are taking to encourage economic growth.

[The Parliamentary Under-Secretary of State, Department for Business, Innovation and Skills (Baroness Wilcox)]

My Lords, the Government are taking steps to encourage economic growth by providing stability for business through firm action to tackle the deficit, to make markets more dynamic through reform of the competition regime and corporate governance, and to focus the Government’s activities on providing the conditions for private sector growth. We will ensure that strong, sustainable growth is fairly shared through local enterprise partnerships and through our new strategy for skills.

--- Later in debate ---

[Lord Roberts of Conwy]

I am grateful to my noble friend for that reply. Can she confirm that manufacturing industry is currently expanding at the fastest rate for 16 years and that employment in manufacturing is increasing at the fastest rate for 18 years? Are there other sectors in which the Government anticipate stronger growth?

[Baroness Wilcox]

My noble friend Lord Roberts makes a very fine point and, yes, of course, I can support the facts that he has read out. Last week’s report that the purchasing managers index for manufacturing rose to 58 in November is absolutely right. The most recent Office for National Statistics data show that manufacturing output in the three months to October 2010 was more than 1 per cent higher than in the previous three months and 5 per cent higher than in the same period a year ago. That growth is evident in the innovative SME Brompton Bicycles, for example, which has grown in recent years from producing 5,000 bikes a year to 30,000 this year.