Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Lucy Frazer

Tuesday 19th July 2016 Commons Chamber

[Mr Hammond]

My hon. Friend rightly points to the fundamental strengths of the UK economy. Britain is still one of the most attractive places in the world to do business, to start a business and to invest money, and it is right that we should focus on those positive aspects. But it is also right that we are conscious of the short-term turbulence that we will inevitably experience and of the need to manage that carefully over the next 18 months.

[Lucy Frazer (South East Cambridgeshire) (Con)]

I, too, welcome the Chancellor to his place. As has been mentioned, SoftBank has made a huge investment in a fantastic Cambridgeshire business. It has done that because Cambridgeshire is at the forefront of technology and innovation. The company has said, as the Chancellor has mentioned, that it is going to double the workforce. Cambridgeshire can continue to attract investment such as this only if we have the infrastructure to support it, so will he confirm that he will be committed to infrastructure investment in roads such as the A10?

[Mr Hammond]

My hon. and learned Friend is absolutely right; raising the UK’s productivity is the long-term challenge of our economy, and infrastructure investment is one of the ways we do that. I draw attention to another point: the success of Cambridge today, not only as a centre of academic excellence but as an innovation hub of global importance, has arisen because of the very foresighted decision of Cambridge City Council many years ago to allow development around the city and the creation of the Cambridge business park, which is now a world magnet for investment.

Oral Answers to Questions

Debate between Lord Hammond of Runnymede and Lucy Frazer

Tuesday 9th June 2015 Commons Chamber

[Mr Hammond]

I am very much with the Prime Minister when he says that we are confident that we will succeed in this negotiation, but that if our partners in Europe do not accommodate Britain’s requirements, he will rule nothing out.

[Lucy Frazer (South East Cambridgeshire) (Con)]

22. Like many constituencies, South East Cambridgeshire contains many industries that compete in the international markets, as well as many small businesses. Will the Secretary of State engage as many of those businesses as possible in the debate on reform?

[Mr Hammond]

Yes, indeed. The business view is important, and I have no doubt that it will make its view clear during the referendum campaign, but I emphasise again that the British people must make the ultimate decision.