Industrial Strategy Consultation
Debate between George Kerevan and Greg Clark(7 years, 10 months ago)
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Greg Clark
In a number of ways, I think. My experience of such businesses is that sometimes what constrains their ability to fulfil growing order books is a lack of skilled staff whom they can employ. The big focus on technical skills, and on improving the standard of technical education by working closely with employers, will make a big difference, especially to small and medium-sized business that cannot operate large training institutes themselves.
George Kerevan (East Lothian) (SNP)
How does the Secretary of State reconcile his commitment to innovation and insurgency with the wholesale pillage of the cream of British high-technology firms through foreign takeover, not least the current takeover by Mastercard of VocaLink and the prospective sale by the Government themselves of the Green Investment Bank to Macquarie?
Greg Clark
I regard it as a badge of pride that this country is open to overseas investment, from which we have benefited hugely. When I was with my hon. Friend the Member for Warwick and Leamington (Chris White) in the west midlands on Friday, we met the chief executive of Jaguar Land Rover, which is owned by an Indian company and has been a force for great good in the area. I want to be open to overseas investment.
Hinkley Point C
Debate between George Kerevan and Greg Clark(8 years, 3 months ago)
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Greg Clark
I will indeed. In the past 24 hours, EDF has made a commitment to me that 64% by value of the content will be spent with UK companies. That shows the tangible benefits to the whole economy of this programme.
George Kerevan (East Lothian) (SNP)
The Minister has said that the Hinkley decision will not burden the national balance sheet. Can he clarify the status of the offer made by the previous Chancellor of the Exchequer to give EDF a Treasury guarantee of £2 billion to supplement the company’s liquidity? The National Audit Office has said that that offer puts the taxpayer at risk.
Greg Clark
I am delighted to answer that question. In fact, EDF has confirmed to me that it will not be taking up that £2 billion guarantee, so the taxpayer is fully insulated from the costs of construction.