Oral Answers to Questions

Craig Tracey Excerpts

Wednesday 18th November 2015 Commons Chamber

[The Prime Minister]

I know how important it is that we all work on behalf of Teesside, not least because of the difficulties there have been in Redcar. That is why we have the taskforce and why the additional resources are going in. I am very happy to look at the project the hon. Gentleman talks about. It may be best for him to meet the Energy and Climate Change Secretary, because we have to make important decisions about all these technologies in the run-up to the Paris conference and beyond.

[Craig Tracey (North Warwickshire) (Con)]

Q12. In my constituency, manufacturing is thriving thanks to innovative small businesses such as Powerkut and Naysmith Group, which are creating high quality local jobs and apprenticeships in the engineering sector. Given the challenges that these types of companies face in finding traditional bank and funding support, what assurances can the Prime Minister give that this Conservative Government understand the importance of our innovators and will continue to provide initiatives, such as the annual investment fund, to ensure British businesses continue to lead the way?

[The Prime Minister]

We want to rebalance the British economy not just in terms of the devolution of power I have just talked about, but to see a thriving manufacturing sector. Manufacturers have told us that they want continued investment in the catapult centres, which do a good job of making sure that technology is taken up. They want strong support for the apprenticeship programme, and we have set a target of 3 million apprentices during this Parliament. They also want to make the annual investment allowance permanent, and it will be permanent at £200,000 throughout this Parliament so that manufacturing companies and others that want to make investments know they can do so in a way that will be profitable for them.