Oral Answers to Questions

Angela Smith Excerpts

Thursday 15th March 2012 Commons Chamber

[Angela Smith (Penistone and Stocksbridge) (Lab)]

14. Whether his Department plans to develop an industrial strategy; and if he will make a statement. [R]

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

Yes, I am developing an industrial policy, and I will continue to work closely with my ministerial colleagues on that important work. In speeches on 27 February and 6 March, I set out what that policy should be and where our future industrial capabilities should lie.

[Angela Smith]

In his leaked letter last week, the Secretary of State said:

“Where we know big investment decisions are going to be made…we need to put in place a strategy actively to plan how we will strengthen the supply chain”.

Does he therefore agree that a good start would be to work towards ensuring that the new Ministry of Defence tankers are built in Britain, not in Korea, and that our new nuclear reactors are made in Sheffield, not in France?

[Vince Cable]

A great deal of progress is being made in developing British supply chains that were whittled away to a disastrous extent with the decline of manufacturing under the last Government. If the hon. Lady looks at what is happening in the car and aerospace industries, for example, she will find that a lot of supply chains are coming back to the UK. As for her last point, on the nuclear industry, I think she is aware that the company that she represents is a regional growth fund recipient.