Greg Clark
Main Page: Greg Clark (Conservative - Tunbridge Wells)Department Debates - View all Greg Clark's debates with the HM Treasury
(5 years, 2 months ago)
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Sajid Javid
I will make certain that the Business Secretary is aware of the hon. Lady’s concerns. The Treasury obviously takes an interest in this issue but she will know that the Department for Business is taking the lead on it. Obviously, and rightly, she is concerned about jobs in her constituency. She would welcome the fact, I hope, that because of the policies of this Government more generally since 2010, we have seen in her constituency a 50% fall in the headline unemployment rate.
Greg Clark (Tunbridge Wells) (Ind)
As we leave the EU, we need to reinforce our international reputation as a powerhouse of scientific excellence. In 2017 we spent 1.7% of national income on research and development, while Germany spent 3% and Israel 4.3%. So will the Chancellor use his next Budget to make substantial progress towards our 2.4% target and recommit to the medium-term target of 3% of national income going into research and development?
Sajid Javid
First, may I thank my right hon. Friend for his excellent work as Business Secretary, including in this hugely important area of research and development? He set some ambitious targets. We intend to stick to those targets, if not go even further, which I am sure he would welcome. Obviously I will not set out the Budget now, but I absolutely share his ambition, and I think he will be pleased with what we eventually do.