Oral Answers to Questions
Debate between Chris White and Vince Cable(11 years, 6 months ago)
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Chris White (Warwick and Leamington) (Con)
1. What steps he has taken to increase the amount of information available to people who wish to start their own business.
The Secretary of State for Business, Innovation and Skills (Vince Cable)
In January we launched the Business in You campaign to highlight the support available to start-ups. It gives access to online tools, such as a finance finder to help identify local sources of finance. Since then, we have made simple, easy to use information on starting a business available at the GOV.UK website. New businesses have access to 22,000 mentors offering advice on starting and growing a business.
Chris White
At the start of the year, Leamington Spa set a new record for the number of companies formed in the first quarter, with 164 new start-ups registered—a 10% increase on the previous record. Will the Secretary of State look at how we get information out to our new entrepreneurs and collaborate with important local bodies, such as the Federation of Small Businesses and the chambers of trade, so that we can capitalise on this new wave of entrepreneurship?
Vince Cable
We will do just that and I congratulate the hon. Gentleman on his role in promoting local companies. I was in Leamington Spa recently to meet some video game companies that have started up and he has played a useful role in promoting all that. Last year, encouraged by the overall improvement in the business climate, half a million new companies were established in this country, which is a major indication of the growth of entrepreneurial commitment.
Industrial Strategy
Debate between Chris White and Vince Cable(11 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text
Urgent 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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Vince Cable
One of the things the Chancellor has done is improve and focus the R and D tax credit, taking it to below-line research expenditure, which was hitherto a major inhibitor. One of the things I very much want to see arising from this work is a much bigger commitment to R and D, particularly the role of the Technology Strategy Board, which I think is one of our best institutions.
Chris White (Warwick and Leamington) (Con)
I, too, welcome the Secretary of State’s comments. Today the Associate Parliamentary Manufacturing Group released a think-piece on modern industrial policy, which is available to Members online. It states that we need a formal strategy document, created by the Government and overseen by a dedicated Minister for manufacturing, delivered to Parliament regularly and created in full consultation with industry, trade unions, all political parties and parliamentarians. Will he meet the group to discuss these ideas and how we might be able to integrate them into Government policy?
Vince Cable
I am certainly very happy to meet the group. A key part of the industrial strategy relates to manufacturing. However, it is important to stress that the modern economy is much more complex than the old sub-divisions. Much of the value in manufacturing these days derives from what are called intangibles—intellectual property, for example, and IT work. The services sector in its modern form contributes massively to our economy, which is why one of the areas we want to focus on is services that can be sold overseas and that have a large knowledge or technology component.
Oral Answers to Questions
Debate between Chris White and Vince Cable
Chris White (Warwick and Leamington) (Con)
16. What steps he is taking to promote manufacturing.
The Secretary of State for Business, Innovation and Skills (Vince Cable)
Recent initiatives include a high-value manufacturing, technology and innovation centre, and a financial commitment that by the end of this spending review there will be funding for 250,000 more adult apprenticeships across all sectors than were planned by the previous Government, including 10,000 higher apprenticeships. We have also launched the “see inside manufacturing” initiative to promote and showcase manufacturing careers to young people.
Chris White
Given the success of the “Made By Britain” exhibition last week, will the Secretary of State join me in congratulating the businesses showcased at the event and give an assurance that the Government will continue to support such initiatives in the years ahead?
Vince Cable
Yes, it is a brilliantly successful initiative. I congratulate the hon. Gentleman and the hon. Member for Huddersfield (Mr Sheerman) on the efforts that they put into developing it, and all the hon. Members who have contributed—50 so far, I think, and I hope others will do so. We shall have a great virtual exhibition next year for the Olympics.