(6 years, 4 months ago)
Commons ChamberI am grateful to the right hon. Lady for bringing this matter to the House in such a timely way. She has a long record of engagement with what is not only a very important employer but a very important national force. It is important to stress the point I made in my statement, and which Mr East has emphasised: the company is expanding its production. It expects to employ more apprentices, technicians and engineers, and has a growing order book; it has a waiting list for orders to be placed. As the right hon. Lady knows, that is in the context of growth in manufacturing in Derbyshire and across the east midlands, and it is very important that that is supported.
The skills among the employees whose jobs are under threat are valuable. The fact that they may be in management does not mean that they are not highly valued, in an economy nationally and in the east midlands that has a great demand for those skills. We will work very closely through the rapid response service that the Department for Work and Pensions provides to make sure that opportunities are offered, whether they are new jobs for existing employees or new opportunities to train in an expanding manufacturing sector in the east midlands. As the right hon. Lady knows, Infinity Park, for example, is continuing to attract new investment; just in recent days Airbus has announced an intention to establish an important facility there.
Our relationship with Rolls-Royce is very close, and it is at the heart of the industrial strategy; it is one of our most important aerospace partners. I have met numerous times with the management of the company all around the country. Since 2015 some £150 million of Government investment has been deployed in partnership with Rolls-Royce. It has been a major force in shaping our industrial strategy. Precisely for the reasons the right hon. Lady mentions, the industries in which it is engaged—aerospace, defence and the power sector—are some of the industries in which Britain leads the world, and we will do everything we can to drive that expansion forward.
I thank the Secretary of State for what he said about Rolls-Royce, but is it not true that it announced its restructuring programme in January and that that was followed by very good year-end results in March? Is it not absolutely necessary that as Rolls-Royce has growing revenues, it must now restructure itself so that it is simplified and has the agility and pace of production to remain one of the world’s leading industrial technology companies?
My right hon. Friend is right to stress that it is important for any British company in an internationally competitive market to be efficient. The company has been very clear about its intentions as a growing company in a growing market. But having made a number of profit warnings over recent years, the management have been on a programme to make it more efficient. It is in all of our interests that this company, which is so important to the UK, continues to be successful around the world and to be at the leading edge of innovation, as it has been and as we are determined to see it be in future.
I have said that it is important that we provide more homes across the country, but particular in London, where we know that demand for homes by people of all types—families and single people—is very acute. The purpose of the Bill is to allow us to provide more homes in London, as I shall go on to say.
May I extend a warm welcome to this long overdue legislation? May I point out to my right hon. Friend that in my local authority area, Chiltern District Council, we have some of the highest average property prices in the country? Even with the 20% discount applied to properties known as starter homes, it will therefore be jolly difficult for some of our young people to afford those homes. In addition, will he tell us how my local council can prioritise those homes for local people?
We need to provide homes of all sorts. It is important to continue to provide homes for rent and to provide homes for purchase. My right hon. Friend will have constituents who have grown up in her constituency, who have had family connections there for many years and whose friends and relations are there, and they have to leave her area not because they want to, but because they have to. It is important to provide more homes in areas such as hers, as well as across the country.
(11 years, 7 months ago)
Commons ChamberThe hon. Gentleman and I had a conversation this morning. I know that he has many constituents who are very worried at this time, and I have said that I am happy to meet them so that we can understand their particular situation. It is clearly an unsatisfactory situation in which the Government of Cyprus, as I understand it, faced a choice between a measure such as this and contemplating the collapse of the banking system. That is a choice that no one would want to make. It is a choice that they made and that they are putting to the Cypriot Parliament, but just as this Parliament is sovereign, so that is true in Cyprus, and the debates that they will be having during the next two days will determine whether what has been proposed over the weekend is what pertains.
The Government are right to protect the position of members of our armed services, but the Minister knows that many pensioners are exposed and I hope that he will consider extending the guarantee to British pensioners living in Cyprus. On a practical note, I believe that the Cypriot Parliament is due to vote on Tuesday evening and that the bank holiday in Cyprus has been extended until Thursday in order to keep the banks shut. Does that apply to branches of Cypriot banks in other countries, and what will happen if the vote in Parliament on Tuesday does not go the way that the Cypriot Government wish it to go?
Discussions are continuing with the eurozone members as well as the Cypriot Parliament, so it would be wrong to speculate on the outcome. I can confirm that Cypriot bank branches in this country are open and operating normally today.