Innovation Economy: Skills Debate
Full Debate: Read Full DebateDepartment: Department for International Trade
Baroness Whitaker
Main Page: Baroness Whitaker (Labour - Life peer)Department Debates - View all Baroness Whitaker's debates with the Department for International Trade
(4 years, 9 months ago)
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Baroness Berridge
Yes, SMEs are a huge part of our economy. Along with the FE sector, the biggest single contribution the Government make to research and development for businesses is what is called the R&D tax credit. In the latest figures that I have, £4.3 billion was paid to businesses for that tax credit for their R&D spend, but £2.3 billion of that was to small and medium-sized enterprises, so this is not just about big business and universities, it is about the FE sector, local skills needs, and small and medium-sized enterprises.
Baroness Whitaker (Lab)
My Lords, what are the Government doing about the skills needed to reach a zero-emissions, low-carbon economy?
Baroness Berridge
My Lords, through the education sector, that is part of what is taught in our schools—there is the environmental science A-level—but in terms of what the Government seek to deliver, it is part of our priority to develop the industries we need to deliver that commitment.