Trade and Investment for Growth White Paper

Andrew Love Excerpts

Wednesday 9th February 2011 Commons Chamber

[Vince Cable]

My colleague is right to emphasise the importance of that industry. Food and drink represents more than 10% of the manufacturing sector. On the various trade missions that I have been on, companies in the sector are often at the top of the list in pushing for better access. In the European Union there are many obstacles to trade, both within the Union and across borders. It has a very illiberal and unsatisfactory system for dealing with agriculture, and we want to open it up.

[Mr Andrew Love (Edmonton) (Lab/Co-op)]

Will the Secretary of State confirm press reports earlier this week that his flagship policy of a national insurance holiday for new start-up businesses outside the south-east is failing? According to the figures only 1,500 businesses have come forward, yet the Government expect 400,000 to do so over the next three years. Does he not consider that a flop?

[Vince Cable]

I do not recognise the hon. Gentleman’s numbers. I get a great deal of feedback, particularly from small companies outside London, telling me that they are benefiting from taking advantage of the national insurance contribution relief. The Chancellor will announce the progress of the scheme in the Budget, and tell the House how he is going to develop it.