Oral Answers to Questions

Debate between Bim Afolami and Alexander Stafford

Tuesday 7th May 2024 Commons Chamber

[Bim Afolami]

I thank the hon. Gentleman for his point. I note his long-held interest in the co-operative sector, and the work that he does on it. So, what are the Government doing? They are doing two things specifically. First, they recently took the further step of backing the Co-operatives, Mutuals and Friendly Societies Act 2023; they also commissioned the Law Commission to review the Co-operative and Community Benefit Societies Act 2014 to make sure that co-operatives can do as much as possible to benefit the wider economy.

[Alexander Stafford (Rother Valley) (Con)]

Over the past two years, Rotherham Council has spent £240,000 promoting co-operatives and employee ownership. Does the Minister agree that this huge amount of money would be better spent on fixing potholes and opening youth clubs, rather than on an ideological viewpoint, with no measurable outcome for the people of Rotherham?

[Bim Afolami]

I do not wish to comment specifically on Rotherham, but the best way of promoting co-operatives in general is to allow them to thrive as best they can, and to support their members in doing what they do best, which is to help their local economies—not necessarily through huge amounts of public subsidy, but through doing what the co-operative movement was founded to do, which is, as I have said, to support local economies and local people.

UK Economy

Debate between Bim Afolami and Alexander Stafford

Monday 19th February 2024 Commons Chamber

[Bim Afolami]

The right hon. Gentleman makes an interesting point, but I would say that our economy entered difficult times at a different point in the cycle from certain other economies. To fully assess the performance of all economies, we have to wait for the end of this whole period, so I would not prejudge exactly at this stage. I simply say that the difficulties we are facing have affected every single economy, although the nature of different economies means that they are affected at different times. We are putting in place comprehensive growth measures and comprehensive measures to bring inflation down. I also note that UK interest rates are roughly middle-of-the-pack compared with other countries of comparable size. We will keep all this under review and, at the next fiscal event, will take further measures to increase our potential growth rate over the long term.

[Alexander Stafford (Rother Valley) (Con)]

Does the Minister welcome the news that the South Yorkshire Mayor has finally recognised the economic importance of Doncaster-Sheffield Airport and is at last starting to use the powers given to him to begin the process of getting it up and running again? Does he agree that that has taken far too long—it is years since the airport closed —and that the South Yorkshire Mayor should have used his powers years ago, rather than waiting until nine weeks before he is re-elected?

[Bim Afolami]

I thank my hon. Friend for pointing out once again what a brilliant champion he is for his constituency. I am sure his constituents have heard that comment, and that he will continue to make that point.

Oral Answers to Questions

Debate between Bim Afolami and Alexander Stafford

Tuesday 14th November 2023 Commons Chamber

[Alexander Stafford (Rother Valley) (Con)]

8. What steps his Department is taking to help mitigate the potential impact of environmental, social and governance practices of financial institutions on levels of investment in the defence sector.

[The Economic Secretary to the Treasury (Bim Afolami)]

The Secretary of State for Defence and my predecessor, my hon. Friend the Member for Arundel and South Downs (Andrew Griffith), recently set out that the values within ESG practices of financial institutions should never undermine capabilities developed to help us preserve peace and security. The Treasury recently consulted on a potential regulatory framework for ESG ratings providers, which aims to improve transparency and promote good conduct. I hope this will address some of the issues that defence companies have raised.

[Alexander Stafford]

ESG is so vital when it comes to investing in all our services, including defence. We were promised that the “Greening Finance” road map would come out at the end of 2022. Then we were told that the consultation would come out by autumn this year. It is still just about autumn, and it is yet to come out. Why are the Government kicking ESG down the road? Why have they stopped caring about ESG, and when will we have the consultation to get a UK green taxonomy sorted?

[Bim Afolami]

I thank my hon. Friend for his question. [Interruption.] I do; I know how much he cares about these issues and campaigns on them frequently in the House, and I commend him for it. The Government are committed to delivering on a UK green taxonomy to provide investors with clarity on which economic activity should be labelled as green. We expect to consult this autumn. The green taxonomy will provide an important tool for enabling the supply of relevant and reliable sustainability information for the market, and information will come in due course.

United Kingdom Internal Market Bill

Debate between Bim Afolami and Alexander Stafford

Tuesday 22nd September 2020 Commons Chamber

[Bim Afolami]

I was afraid that the hon. Lady would not understand my point fully. Let me make it for her again: the idea that standards for teachers in Scotland are somehow higher than those in England is not correct. The fact is that across all our nations there are certain small differences in the professional qualifications of different people in different professions. This argument—almost—that we are having illustrates the fundamental point, which is that we should have a principle of non-discrimination for goods, services, teachers and all professions across this United Kingdom.

I am having some fun, so let me take on another point in respect of amendment 89. My hon. Friend the Member for North West Durham (Mr Holden) made this point very well, and I am sad that he is not in his place because I do like to praise him—he is a very intelligent, smart fellow. The amendment would in effect allow a devolved Assembly or Government from one part of the United Kingdom to impose regulations on the people of Scotland. If I was a member of the SNP and believed that the people of Scotland’s interests were paramount, I would think that quite odd. Again, it illustrates the illogicality of the SNP position.

Fundamentally, SNP Members care about one thing: they do not care about free trade across the United Kingdom or prosperity for businesses; they just care about breaking up the United Kingdom. The reason why the Scottish nationalists dislike this Bill so much—I have been wondering what is driving their animus toward the Bill—is that they know it can help to bind the United Kingdom together. That is why they hate it, that is why I support it and that is why the Minister and the Government are putting it forward.

[Alexander Stafford (Rother Valley) (Con)]

Does my hon. Friend agree that if SNP Members actually wanted to break up the Union and the Bill was as terrible as they claim, they would vote with us to put through such a terrible Bill? The fact that they oppose the Bill shows that it is a good Bill that will bind us together, showing once again the illogicality of their arguments.

[Bim Afolami]

As always, I agree with my hon. Friend.

The Bill has been put forward and we are in the position we are in. The Prime Minister made his statement earlier today and will make a statement to the country this evening. We are in the midst of a global pandemic, and we all know that.

We also know that the economic consequences of that pandemic are only starting to show. We must do everything we can, regardless of party politics, regardless of where we sit on various issues on the constitution or anything else, to help jobs. It is about jobs, jobs, jobs—people’s livelihoods. This Bill can underpin and help strengthen that aim.

Sixty per cent of Scottish exports—I am sure I will be corrected if I am wrong—go to the rest of the United Kingdom, and yet the SNP says that it wants more, not fewer, barriers to that trade. The biggest long-term challenge of this Parliament, after the terrible health consequences of the pandemic, is, I believe, the economic damage that ensues. The Bill helps not just the United Kingdom come together, but any United Kingdom Government support businesses, jobs, people and communities across these nations—that is something to be commended, strengthened, and supported—alongside increasing by more than 100 the powers going to devolved Assemblies and Governments. I believe that that will strengthen the Union, strengthen our internal single market, and strengthen the economy of this country.