Oral Answers to Questions

Chris Williamson Excerpts

Thursday 21st March 2013 Commons Chamber

[Tristram Hunt (Stoke-on-Trent Central) (Lab)]

7. What recent assessment he has made of manufacturing activity and future capacity in that sector.

[Chris Williamson (Derby North) (Lab)]

8. What recent assessment he has made of manufacturing activity and future capacity in that sector.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

After years of manufacturing being in relative decline we are seeking to bolster manufacturing capacity and drive the transformation to a skilled economy. On Monday we launched an aerospace strategy with £2 billion Government-industry funding for an aerospace technology institute. Rounds 2 and 3 of the advanced manufacturing supply chain initiative opened for applications today.

--- Later in debate ---

[Chris Williamson]

I hope the Secretary of State supports early-day motion 1185 which calls for the 600 taxpayer-funded carriages for the Crossrail project to be built at Derby’s Bombardier factory, safeguarding more than 10,000 jobs. Given that the Mayor of London will have a big say in where those trains are built, will the Secretary of State tell the House whether he is making the socio-economic case to the Mayor for building those trains in the UK, and specifically in Derby?

[Vince Cable]

We will certainly make the case for tendering to be conducted in a proper, strategic way. One lesson we have learnt over the years is that the rather opportunistic approach that used to happen in public sector tendering for public transport was not helpful, and we will certainly make the strategic case directly with Government and public agencies.

--- Later in debate ---

[Mr Speaker]

Steve Baker, not here. Sir Bob Russell, not here. I call Chris Williamson.

[Chris Williamson (Derby North) (Lab)]

T3. If he will make a statement on his departmental responsibilities.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

My Department plays a key role in supporting the rebalancing of the economy through business to deliver growth while increasing skills and learning.

[Chris Williamson]

A recent report by the respected consumer group Which? highlighted the extent of irresponsible lending in the high-cost credit market. Do Ministers think that the Office of Fair Trading’s recent threat to revoke the licences of 50 payday lenders goes far enough to stamp out bad practice in the sector?

[The Parliamentary Under-Secretary of State for Business, Innovation and Skills (Jo Swinson)]

The hon. Gentleman is quite right to highlight some of the unscrupulous and unacceptable behaviour in the payday lending industry. The OFT’s action, telling the industry it has 12 weeks to shape up or lose its licences, is welcome, but that is not all that is happening. The OFT also intends to refer the industry to the Competition Commission, and we have given it extra powers to suspend licences immediately. The Financial Conduct Authority will be able to take much more action, with the sweeping powers we have given it to ban products, impose unlimited fines and order redress to consumers. The Government take this issue extremely seriously and are acting on it.