Oral Answers to Questions

Debate between Harriett Baldwin and Nadhim Zahawi

Tuesday 15th December 2020 Commons Chamber

[The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Nadhim Zahawi)]

My Department continues to deliver a wide range of measures to support UK businesses. We have extended our loan schemes, which have already delivered more than £65 billion of finance, until the end of January.

[Harriett Baldwin]

That level of support is impressive, and I also thank the Minister for all he is doing on the vaccine roll-out. There are sections of the UK economy that are going to grow rapidly, not least the green industrial revolution, thanks to the energy White Paper announced yesterday. What steps is he taking to make sure that it is UK-based businesses that grow the workforce and benefit from the job creation as a result of the green industrial revolution?

[Nadhim Zahawi]

I am grateful to my hon. Friend for her excellent question. The 10-point plan will build on the nearly half a million green jobs that already exist in the UK economy, supporting up to 250,000 further high-skilled jobs. The House will be interested to know that we are talking about 60,000 in offshore wind, 10,000 or more in nuclear, 50,000 in green and comfortable homes, 8,000 in hydrogen, 53,000 in carbon capture utilisation and storage and 40,000 in accelerating the shift to zero-emission vehicles.

Oral Answers to Questions

Debate between Harriett Baldwin and Nadhim Zahawi

Tuesday 3rd March 2020 Commons Chamber

[Nadhim Zahawi]

I thank the hon. Member for his question, but he is wrong. We have stood up a very important group within the Department that is working with the automotive sector, the retail sector and others that are impacted by China’s supply chain problems. We continue to monitor the situation closely, as well as the critical infrastructure that keeps the UK’s lights on and the UK economy powering ahead.

[Harriett Baldwin (West Worcestershire) (Con)]

Does the Minister agree that one of the best ways to level up the great British high street with the internet would be to allow our high street shops to choose when they open?

Public Services (Social Enterprise and Social Value) Bill

Debate between Harriett Baldwin and Nadhim Zahawi

Friday 19th November 2010 Commons Chamber

[Harriett Baldwin]

That is an extremely low rate, but in fact the annualised default rate has been just over 1%. The case has been proven that a portfolio approach can be taken to investment in such social enterprise organisations.

I am sorry that my hon. Friend the Member for Wycombe (Steve Baker) is no longer in his place, because he and I have enjoyed many lively debates on many different topics and I would have pointed out to him that we do have an arrangement in this country whereby the Government spend money on behalf of taxpayers—and that is an accepted fact. This Bill would helpfully draw to the attention of the procurer who spends public money the existence of social enterprises, which might offer an attractive alternative to the state building its own apparatus or to a private sector provider.

[Nadhim Zahawi]

I congratulate my hon. Friend the Member for Warwick and Leamington (Chris White) on introducing this Bill. Two Fridays ago in Stratford-on-Avon we held a big society day. Local government attended and we had standing room only. Two things emerged. First, what Government can do is to provide—in business terms—the mission statement. Secondly, that mission statement then needs to be implemented locally in, perhaps, diverse ways. That is where the gap in the debate may occur.

Another point that emerged from the big society day was the overlap between social enterprises and voluntary providers. We need to send a message to them that in such cases it would be of benefit to both if they worked together more closely, which could make them more successful in bidding for some of this money.

[Harriett Baldwin]

I thank my hon. Friend for that informative intervention. I, too, represent a constituency that has many shining examples of big society organisations. From my perch on the investment committee at the Social Investment Business, I have been able to see many different social enterprises across the land that are flourishing—from Salford to Stratford—and that would be helped by being brought to the attention of public service procurers in other areas. By outlining the need for a national strategy, my hon. Friend the Member for Warwick and Leamington has introduced a very helpful Bill.

As we all know, there is allegedly no money left, so it will probably not be as easy as it was to help the social enterprise sector. I am sure that the right hon. Member for Salford and Eccles would agree that even had her party been elected to government it would have found it difficult to provide similar amounts for funds such as the Futurebuilders fund as they did before. Therefore, we need to emphasis the role that foundations, philanthropists or people who would like to invest in an ethical individual savings account could play by providing a portfolio of funding to help to draw on the experience that Government money has developed over the years, as well as the low default rate and good rate of return.