(6 years, 5 months ago)
Commons ChamberI welcome my hon. Friend’s statement on this matter. As part of the new space sector deal, will he recognise the importance of research and development, particularly in materials technology? With that in mind, may I extend an invitation to him as Science Minister to come to the National Composites Centre and the Bristol and Bath Science Park to see the excellent work that is being done there in this regard?
(6 years, 7 months ago)
Commons ChamberUrgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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Asda in Longwell Green and Sainsbury’s in Emersons Green have been huge economic success stories in recent years, taking on hundreds of extra jobs since 2010 without Government interference. Will the Minister confirm that it is not the Government’s duty to be heavy-handed about the business interests of companies, but instead to create the right economic climate that will create jobs for the future?
My hon. Friend is absolutely right: we want these businesses to grow and thrive. We want a dynamic retail sector. That is why, just last month, I established the Retail Sector Council to bring together the major players in the retail industry to ensure that the Government are creating exactly the conditions that he highlights, to allow these businesses to grow and prosper. But as I said, look at the facts: the combined company will employ some 330,000 people. We as a Government want to encourage those jobs—not to get in the way and prevent them.
(6 years, 8 months ago)
Commons ChamberI have set out in terms in my letter to Melrose and in my statement that, in many respects, the model of short-term ownership—especially for assets connected with defence purposes, in which long-term relationships are important—is in tension with the model of these industries. That is why I set that out, outside the statutory determination that I have to make. I suggested that the commitments that Melrose makes are legally binding. The takeover panel provides one mechanism for that, which I commend, but there are other ways in which the undertakings could be made legally binding.
The hon. Gentleman asked about the assessment of the Ministry of Defence. At the close of the bid—when all of the facts are known, including what has been said this morning—the Ministry of Defence and other agencies will make an assessment and advise me on whether there are grounds for an intervention in the interests of national security. I have made a commitment to this House that I will take that expert advice seriously and meticulously, and will make a decision when I have it before me.
On pensions, Melrose and GKN have been in discussion with the pension trustees and with the Pensions Regulator. It is for the Pensions Regulator to determine whether the arrangements are satisfactory for the interests of not just current, but future pensions.
Many of my constituents have bitter memories of the promise made to keep open the Somerdale factory site in Keynsham when Kraft took over Cadbury, under the previous Labour Government. That factory site is now closed and is a housing estate. What commitment can the Secretary of State give to my constituents that this will be different, and that these legally binding commitments will be properly enforced this time?
My hon. Friend makes an excellent point. I have visited the site he mentions. That situation was a breach of the indications given during the bid, which is why this regime of legally binding commitments was introduced. It is my view that such a regime exists not simply to be available in principle, but to be used in practice. The force of the law applies to adherence to those commitments in a way that sadly was not the case with Kraft and Cadbury.