Advanced Research and Invention Agency Bill

Debate between Chi Onwurah and Richard Fuller

Report stage & 3rd reading
Monday 7th June 2021 Commons Chamber

[Chi Onwurah]

I thank you, Madam Deputy Speaker, because that is exactly the point to which I am going—to the amendments. Just to say that the funding for coronavirus research, which is the kind of world-beating or leading research that we would hope ARIA will be looking at, has been cut by 70%, which will kill the project. A Government happy to withdraw support for vital research projects across the globe are not a Government who wish to act in the best interests of science, the country or the world.

On ARIA itself, we have many serious concerns. We recognise the need for new mechanisms to support high-risk, high-reward research in our science sector, and as such ARIA is a step in the right direction. ARIA can transform our scientific landscape and we can build an institution that furthers our societal aims for decades to come, but we have concerns, which our amendments seek to address, about the lack of direction, strategy and accountability in the Government’s current proposals. Without such improvements, we fear that the agency could be used to pursue vanity projects disconnected from the public interest.

The first major issue with the Bill is the absence of a mission for ARIA, which has already been raised. What is ARIA for and what is it working towards? Labour’s amendment 12 would require ARIA to have a specific mission for ARIA’s first decade, and we want that mission to be climate change.

[Richard Fuller]

I am very grateful to the hon. Lady for reverting to items that are in order today. On amendment 12, she mentioned that that should be the “core mission”. The hon. Member for Aberdeen South (Stephen Flynn) talked about its being part of a bigger whole, but it is still a relatively small amount of money. Does the amendment mean that that is the only mission? Essentially, when she says “core mission”, what she means is the only mission and the agency cannot do anything else other than that for 10 years.

[Chi Onwurah]

I thank the hon. Gentleman for seeking to aid Madam Deputy Speaker in determining what is in order. I am not sure whether that was necessary.

On the hon. Gentleman’s intervention, I fail to see why he thinks that pedantry can make up for a lack of argument. Climate change is a core mission. We are not seeking to hem in the agency with absolute linguistic barriers for what exactly should be done, but we want it to have a direction. We want to know where it is going and what it is seeking to do. The core mission, as I intend to set out in detail, will be climate change. I do not intend to limit its interpretation of climate change, but I will set out the reasons why climate change will be its core mission.

Corporate Insolvency and Governance Bill

Debate between Chi Onwurah and Richard Fuller

Consideration of Lords amendments & Ping Pong & Ping Pong: House of Commons
Thursday 25th June 2020 Commons Chamber

[Chi Onwurah]

I thank my hon. Friend for that extremely constructive and to-the-point intervention. We absolutely need to learn from this process, and we also need to ensure that not only the mistakes but the injustices of the past are not repeated, particularly now, when the economy and so many workers and pensioners are so vulnerable.

First, I hope that Ministers will learn from the experience of passing this legislation in such a hurried manner, with a mixture of permanent and temporary measures. While we understand the need for speed with this Bill, it is clear that there have been problems in combining temporary changes with permanent reforms that have been a long time coming and the lack of time for proper scrutiny. That point has been strongly voiced in the other place, and we hope that Ministers will bear this in mind when introducing complex permanent changes along with temporary measures.

Secondly, the ranking of priority debts in insolvency cases has not been changed in a number of years and concerns have been raised that this is out of date. There is no mention of FinTech or some of the new complex ways in which firms finance themselves. If further insolvency changes are planned by Ministers, they must be relevant to where the world is now.

Thirdly, the interaction between pension funds and insolvencies is very complicated, particularly around defined pension schemes. That needs to be looked at afresh. Fourthly, the lack of mention of employees in the whole Bill is a complete oversight, which is why we argued for greater recognition of, and voice for, employees during the passage of the Bill. Any further changes to insolvency and corporate governance legislation must consider how workers can be better included. Finally, there are clearly issues, as the Minister has raised, around pre-pack. They will need to be resolved.

We are pleased that we have been able to work so constructively with the Government to pass this important legislation to support business through this crisis. We are grateful for the listening ear of Ministers. We hope that this legislation will save businesses threatened with becoming insolvent through this crisis. We will keep a close eye on how the measures are implemented, and we hope Ministers will do the same.

[Richard Fuller (North East Bedfordshire) (Con)]

I draw the House’s attention to my entry in the Register of Members’ Financial Interests and in particular to my roles as a director of companies.

Like the Opposition, I welcome the changes that the Government are accepting in the Bill today. I have listened to a couple of interventions from the Opposition Benches, with their strong support for Government measures to support the economy, and that is emblematic of how successful they have been. However, I would just gently warn my hon. Friend the Minister that we have made great progress so far, but there are issues, as we emerge, about how those programmes are helping certain people, while other people are not receiving that support. We need to get the economy going back to normal business principles as quickly as possible, not seek to extend Government intervention unnecessarily or for too long.

This Bill is a very timely Bill and it is a good Bill. As the shadow Minister said, there is a mixture of short and long-term issues here, but getting this on the books is really rather important for the market. May I ask the Minister, building on some other comments about the changes in the role of the Pensions Regulator and the PPF, whether he sees this as part of a longer-term view of the Government about the role of pensions regulators in insolvency, and whether this is an indication of something that may outlast and be outwith any short-term changes? I would be interested in his perspectives on that.

I am not sure if the Bill continues to relate to the primacy of HMRC as a creditor in insolvencies, but I would be interested if the Minister has any observations on that. I know that, for many businesses when they are trying to seek resolution in insolvency, HMRC can prove to be one of the most difficult creditors to deal with—and that is putting it perhaps a little lightly. So do the Government have the intention of providing, or does the Treasury have any intention of providing, any guidance on how HMRC may be treating its obligations during this particular period? For many companies, that would be a welcome piece of information as they go through what may otherwise be very difficult periods.

May I ask the Minister about the extension to 30 September? That seems to be a very sensible change, but may I ask him about what happens in the event that there is a repeat lockdown that is a national lockdown? He has talked a bit about an affirmative decision here. That, it seems to me, is perhaps a bit more focused than that. Perhaps more tellingly, what happens in the instance where there is a localised lockdown in a particular county or a particular region that affects businesses there and they go insolvent? What happens to those particular businesses? I would be interested to see if the Minister has some thoughts on that.

My final observation, Mr Deputy Speaker—and you, with your great experience, may know this too—is that frequently measures that come into this House that are seen as short-term measures have a habit of sticking around on the statute book. So could I have, on the sunny-side view of the recovery of the economy, an absolute assurance from the Government that it is their intention, as these things sit, as the economy recovers, that they will implement the sunset clause, and they will come forward so that we can enable businesses to go back to the longer-term framework, some of which is in this Bill, for managing corporate insolvency?