Oral Answers to Questions

Debate between Alex Cunningham and Vince Cable

Thursday 26th March 2015 Commons Chamber

[Vince Cable]

I have had a lot of discussions with both of them about this issue, but since the hon. Gentleman is an expert on the subject he will know that what really matters is the real effective exchange rate. We have devalued substantially against the dollar, by more than 10%, and that must be put into the mix. One lesson we learned from the 2008 financial crisis, when we had sterling devaluation of 25%, is that that does not automatically translate into improved trade.

[Alex Cunningham (Stockton North) (Lab)]

T1. If he will make a statement on his departmental responsibilities.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

My Department plays and has played a key role in supporting the rebalancing of the economy through business to deliver growth while increasing skills and learning.

[Alex Cunningham]

The Secretary of State has kindly met me several times, along with local companies from my constituency, to discuss development. In most of the cases, I have been grateful to him for a positive outcome. Jobs are good, but I would ask for his comments on the so-called drop in unemployment in Stockton where just over one third of those no longer claiming jobseeker’s allowance have found a job. Does he have any idea where his Tory colleagues have hidden the hundreds of people from Stockton who have not been that fortunate?

[Vince Cable]

As it happens, I am going to Teesside today on my last ministerial visit. I look forward to hearing more about the detail on the ground. There is a very positive story in the adjacent seat of Redcar, which is what I shall be celebrating.

Amendment of the Law

Debate between Alex Cunningham and Vince Cable

Thursday 19th March 2015 Commons Chamber

[Vince Cable]

It depends entirely on how we look at the combination of tax and tax credit. The simple point is that the top quintile—the top 20%—has paid four times as much in deficit reduction as the group to which the right hon. Gentleman referred.

[Alex Cunningham (Stockton North) (Lab)]

Of course, the poorest in our society are the people who are on benefits. The Chief Secretary to the Treasury has ruled out support for the £12 billion of cuts to the welfare budget, which would make income inequality even greater for the poorest people in our society. If the Secretary of State does not support those cuts, what cuts does he support to fill the gap?

[Vince Cable]

Let me deal with one of the points of righteous indignation that is made about welfare cuts—the point about the so-called bedroom tax. The problem with it is that the idea of relating housing benefit to the size of accommodation did not start under this Government; it was a long-standing policy in relation to people in private rented accommodation. Where we have disagreed with our Conservative colleagues—we have made this explicit—is in saying that the so-called bedroom tax should not apply retrospectively. If people are given an offer of accommodation in the council house sector and they turn it down, they should pay it, but if they do not receive a satisfactory offer, they should not. That is a point of difference. The sheer righteous indignation bears absolutely no relation to the history of this problem.

Oral Answers to Questions

Debate between Alex Cunningham and Vince Cable

Thursday 6th March 2014 Commons Chamber

[Vince Cable]

I thought that the Labour party was still committed to supporting the national minimum wage. This is an interesting new evolution of policy, which seems to have been made on the stump. The naming and shaming policy has now come into effect and the first five companies were named at the end of last week.

[Alex Cunningham (Stockton North) (Lab)]

5. What recent representations he has received from small businesses on their consumer rights.

Oral Answers to Questions

Debate between Alex Cunningham and Vince Cable

Thursday 23rd January 2014 Commons Chamber

[Alex Cunningham (Stockton North) (Lab)]

7. Whether net lending to businesses by banks has risen in any of the last 24 months.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The answer is yes. The most recent data from the Bank of England show that net lending to small and medium-sized enterprises was positive in March, June and November, and the Bank of England’s most recent “Trends in Lending” and “Credit Conditions” reports show that confidence is beginning to return, helped by interventions such as the British business bank.

[Alex Cunningham]

According to the chamber of commerce, unemployment in the north-east has gone up by 1,000 in the past quarter and by 16,000 in the past year, of whom 13,000 are women. We agree that small and medium-sized businesses should be driving the economy up and unemployment down, but I am told that many in my region see confusing Government schemes and the banks as failing to give them the help and resources they need. What specific things will the Secretary of State do to help people in the north-east and let our people share in the so-called upturn?

[Vince Cable]

Anybody who looks at yesterday’s employment figures will realise that we are in a very positive trend on employment—far in excess of what was predicted. Specifically in relation to the north-east, the hon. Gentleman will know that the main mechanism the Government use to support jobs and companies is the regional growth fund, and I think that the north-east has received more regional growth fund support than almost any other part of the country.

National Minimum Wage

Debate between Alex Cunningham and Vince Cable

Wednesday 15th January 2014 Commons Chamber

[Vince Cable]

I do not know about the numbers, but certainly the minimum wage, in real terms, has declined by 5%, as a result of my predecessor on two occasions and me on three occasions following the advice of the Low Pay Commission.

[Alex Cunningham]

The RBS bankers and others in the City who led us into this terrible economic situation do a lot better than the national minimum wage, so does the Secretary of State think they should get bonuses of more than 100% of their salaries?

[Vince Cable]

I think hon. Members have had a chance to debate that already. I am a great advocate of the new model developed by Handelsbanken of relationship banking and no bonuses—that is what we ought to have—but I suspect that even their branch managers are paid above the minimum wage.

Oral Answers to Questions

Debate between Alex Cunningham and Vince Cable

Thursday 20th December 2012 Commons Chamber

[Alex Cunningham (Stockton North) (Lab)]

2. What recent discussions he has had with the Secretary of State for Energy and Climate Change on investment in green manufacturing jobs.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

I regularly meet the Secretary of State for Energy and Climate Change to discuss energy and climate change policies, including investment in green manufacturing jobs in the north-east and elsewhere. We are committed to supporting green technologies including offshore wind, for which a sector strategy is to be published in the spring.

[Alex Cunningham]

On Teesside and elsewhere in north-east England we have seen tremendous investment in green industries, but we have also seen billions of pounds-worth of contracts for British offshore wind farms placed abroad in Germany and Holland. I had hoped there would be provisions in the Energy Bill, which had its Second Reading yesterday, to ensure that British firms got British jobs. There are no such provisions. Has the Secretary of State suggested any amendments to the Energy Bill to ensure that we get British jobs?

[Vince Cable]

We are pursuing this not through legislation but through practical action and we are working with the developers’ forum to try to ensure that at least 50% of supply chain work comes back to the UK. We cannot do that unless we have the capacity, which is why we have established the catapult centres in the north-east and Glasgow to develop basic technology as well as the six renewable engineering centres, which will develop our engineering capacity.

Oral Answers to Questions

Debate between Alex Cunningham and Vince Cable

Thursday 8th November 2012 Commons Chamber

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

I regularly meet the Secretary of State for Energy and Climate Change to discuss energy and climate change policies, including investment in green manufacturing jobs. We are seeking to exploit opportunities for growth through green technologies, and I have recently announced that the UK Green Investment Bank is operational, which will support investment in green manufacturing.

[Alex Cunningham]

Companies such as Tag Engineering Services on Teesside, and many others, have invested millions of pounds to create capacity to build monopiles and other components for the offshore wind industry. They have some of the best facilities in the world, yet they see multi-million pound contracts go out to Europe. What is the Secretary of State doing to get British wind farm contracts placed with British firms?

[Vince Cable]

I share the hon. Gentleman’s frustration that supply chains in that sector are not as well developed as they should be, not just in respect of the components, but also of the steel that contributes to the masts. That is why the Secretary of State for Energy and Climate Change and I are bringing together the renewables supply chain to develop the capacity that the hon. Gentleman wishes to see.

--- Later in debate ---

[Alex Cunningham (Stockton North) (Lab)]

T4. I am grateful to the Secretary of State for meeting my hon. Friend the Member for Sedgefield (Phil Wilson) and me to discuss the rejection of the bid for a regional growth fund grant by Durham Tees Valley airport and for his offer to meet representatives from the airport and the local enterprise partnership. Will he reaffirm his support for regional airports as drivers of economic development, and tell the House what he can do to help our Durham Tees Valley airport to deliver on its development plan and ensure that the airport is sustained well into the future?

[Vince Cable]

Yes, I did indeed meet the hon. Gentleman and his colleagues. It was a good meeting, and they have followed it up with a very good submission explaining the link between the regional airport and the growth fund bid. We are now analysing that. I hope that he would acknowledge that there has also been some good news, however, in the sense that the Tees Valley LEP has just won a substantial programme bid through the regional growth fund, which will contribute to development in his area.

Industrial Strategy

Debate between Alex Cunningham and Vince Cable

Monday 10th September 2012 Commons Chamber

[Alex Cunningham (Stockton North) (Lab)]

The regional development agency did a great job in north-east England and real industrial jobs were created, among others. Of course, we did some things that the Secretary of State now thinks necessary, but in the light of opposition in the coalition he is not able to progress an effective policy. The CBI said that he had “lost the plot”. Does he expect to find it at No. 10 or No. 11 Downing street?

[Vince Cable]

I am not quite sure what the question was. The hon. Gentleman started with regional development agencies. I know that there is nostalgia for them in some quarters, particularly in the north-east, but my experience, particularly in areas like Teesside, is that they are much happier with the LEP approach, which is much more business-focused, much more action-oriented, and actually getting things done.

Executive Pay

Debate between Alex Cunningham and Vince Cable

Monday 23rd January 2012 Commons Chamber

[Alex Cunningham (Stockton North) (Lab)]

Here is another opportunity for the Secretary of State to clarify his views on RBS bonuses. The share price has collapsed by 35% in the past year, so will he use any powers he has to block any bonus for the chief executive, or has he really surrendered those powers to the Prime Minister and the Chancellor, who simply do not agree with him that the bonus must be stopped?

[Vince Cable]

I have heard at least three different sets of recommendations on RBS bonuses, including that they should be reduced and that they should be stopped altogether. If we get a coherent, single source of advice, perhaps I can respond better to it.

Oral Answers to Questions

Debate between Alex Cunningham and Vince Cable

Thursday 31st March 2011 Commons Chamber

[Alex Cunningham (Stockton North) (Lab)]

T7. The proposed changes to the feed-in tariff for solar energy projects has dealt the industry a massive body blow and left in tatters plans by Norton sports and social club in my constituency to build one to finance their community work. How many more projects have been deferred, and what does the Secretary of State have to say to this job-creating industry?

[Vince Cable]

As the hon. Gentleman knows, the feed-in tariff consultation is being conducted by the Department of Energy and Climate Change, but I will certainly communicate his concerns to it.