(11 years, 1 month ago)
Commons ChamberNuclear power is a very important part of our energy mix and of our future energy security, which makes it all the more criminal that nothing was done for the long, long period of the Labour Government to replace the nuclear stations that are coming offline in the late 2020s and 2030s.
5. What recent assessment he has made of the competitiveness of the UK energy market.
(11 years, 2 months ago)
Commons ChamberI do not think we are likely to get an apology for the extensive and damaging closure programme for which the previous Government were responsible, but at the very least the work force of the Royal Mail is entitled to some statement from the Labour party as to whether it would renationalise the business. I hope that someone from that party will make its position clear before we go much further into this statement.
I declare an interest in that I worked for Ofcom before entering the House. From that experience, I know that the only way that natural monopoly networks of this type work in the private sector is when we have real competition at the infrastructure level on the ground, as in telecoms. Is the Minister truly proposing that we will have multiple posties delivering to doorsteps from North Devon to Newcastle, or will we end up with another bloated private sector monopoly vested interest, as we have seen in water, energy and rail?
This is not a monopoly market at the moment. There are companies competing in the marketplace, as they have to do under European law. This House has decided that there should be that competition in that particular way and has established Ofcom, for which the hon. Lady used to work, to supervise that competition.
(11 years, 4 months ago)
Commons Chamber15. What steps he is taking to promote sustainable economic development in the North East.
I welcome the most recent reduction in unemployment in the north-east. Across the region we have offered support of £330 million to 101 projects and programmes through the regional growth fund with the potential to safeguard or create 66,000 jobs. We are also working with the North Eastern local enterprise partnership to agree a local growth deal based on Lord Adonis’s recent report.
The north-east has real strengths in sustainable process energy and transport industries, but lacks the funds and the skills to support them. Since the demise of the regional development authority, there has not been an effective champion to bring this about. The regional growth fund is not getting the money through quickly enough. What is he going to do to change that, so that the skills and the finances are available to industry in the north-east?
If I may say so, the hon. Lady is taking a rather pessimistic view of her region. There is plenty of money flowing from the regional growth fund to projects, two of which I have visited on the Tyne. There is plenty more support to come through the structural fund allocation, which has also gone to the local enterprise partnership, and through the invitation that has gone to the region to bid for the single local growth fund from 2015-16.
If women were setting up and running new businesses at the same rate as men, we would have an extra 1 million female entrepreneurs in this country. Despite progress in recent years, women remain less likely than men to start a business, so we have more to do.
The Secretary of State has recently made a number of welcome speeches in support of women in engineering, enterprise and the boardroom, but unfortunately, they are not matched by action from his Government. Why, for example, has the number of investments by the Aspire fund, which was set up specifically to support women-led businesses, fallen under his Government to a quarter of what it was under the previous Government?
Forty per cent. of start-up loans have been taken up by women, which is an important advance. In the two-month period from 1 March, 12% of FTSE 100 board appointments and 40% of FTSE 250 board appointments were secured by women.