Budget Resolutions

Alan Mak Excerpts

1st reading: House of Commons
Tuesday 28th November 2017 Commons Chamber

[Alan Mak (Havant) (Con)]

It is a pleasure to follow the right hon. Member for Wolverhampton South East (Mr McFadden).

The Red Book tells us:

“The Budget sets out a long term vision for an economy that is fit for the future—one that gives the next generation more opportunities.”

I speak in this Budget debate in support of the Chancellor and the industrial strategy, because I particularly welcome their emphases on upskilling our workforce and helping Britain to lead the fourth industrial revolution, as technology transforms the way we work and live.

Looking at the Budget more generally, I am pleased to see the Government devoting more funds to science and innovation and helping this country to meet the OECD average spend of 2.4% of GDP on R and D. I welcome our funding for upgraded broadband and 5G, putting digital connectivity at the heart of our productivity plan. Economic success is not built just on steel, concrete and fibre optic cables, however, and I welcome the investment in human capital most of all. The British people will help us to make a success of Brexit, and our engineers, scientists, inventors and entrepreneurs will help us to lead the fourth industrial revolution. It is right that the Budget invests in their skills, education and future.

Getting our workforce prepared for the challenges and opportunities of the new technological revolution is vital to boosting productivity, increasing economic growth and making sure that the whole country is prepared for the challenges ahead. As the Budget rightly notes, employers sometimes report that they struggle to recruit enough people with science, technology, engineering and maths skills to grow their business, and we know that STEM skills correlate to higher average earnings and greater productivity in our economy. That is why I am particularly pleased to see the measures in the Budget that focus on skills and education. From the significant package of support for maths in schools to further support for T-levels and computer science, the Government are equipping our young people—in Havant and across the whole United Kingdom—to succeed in the new economy.

I also welcome the measures on lifelong learning, including the commitment to establishing a national retraining partnership with the TUC and the CBI, the £30 million to help people to retrain in digital skills and the £8.5 million to support unionlearn. Those are all valuable initiatives. As the fourth industrial revolution gathers pace and technologies such as artificial intelligence and robotics become more widespread across all sectors of the economy, we will undoubtedly see an unprecedented level of restructuring in our labour market, including in many white-collar professions that have traditionally been resistant to such challenges. That is why I particularly welcome the Government’s laying of the groundwork for a modern skills system that will help us to tackle those challenges head-on.

In conclusion, I strongly support the Budget and the related industrial strategy, which came out yesterday. They help our country not only to get fit for the future, but to get ahead. They will allow us to reach the future first, ahead of our competitors, and secure our prosperity in the years ahead.