Oral Answers to Questions

Debate between Henry Smith and Greg Hands

Tuesday 12th July 2022 Commons Chamber

[Chris Clarkson (Heywood and Middleton) (Con)]

19. What recent steps his Department has taken to help increase the level of research and development spending.

[The Minister for Energy, Clean Growth and Climate Change (Greg Hands)]

We are providing the fastest ever sustained uplift in R&D funding, reaching £20 billion per annum by 2024-25. If association to Horizon Europe is not possible in good time to make the most of that programme, we will take forward a bold and ambitious package of UK alternatives.

[Henry Smith]

This country has been world-leading in its covid-19 vaccination programme and so much more in our pharmaceutical industries as well as the health sector. Can the Minister say a little more about what specific research and development investment will go into pharmaceuticals and the health sector? I would particularly like to mention cancer services and Alector oncology in my constituency which is expanding.

[Greg Hands]

My hon. Friend has always been a passionate advocate and defender of business in the Crawley constituency, specifically R&D projects and innovation, and I am glad he mentioned Alector and others, as they are important companies in his constituency. We continue to support investment in R&D through a vibrant research and innovation system that attracts private sector investment and drives up productivity across the UK, including in Crawley.

Oral Answers to Questions

Debate between Henry Smith and Greg Hands

Thursday 15th July 2021 Commons Chamber

[Greg Hands]

We will be responding in due course to the call for input on going further on a trade deal with Canada, and we are looking forward to that negotiation starting in the autumn. I would remind the hon. Member that there are no ISDS provisions in the UK-Australia deal, but I would also remind her that the UK has never lost an ISDS case. We do have ISDS provisions in quite a number of our existing agreements, and the UK has never lost any such case.

[Henry Smith (Crawley) (Con) [V]]

  Does my right hon. Friend agree that it is thanks to UK Export Finance reacting so quickly to the economic challenges of the covid-19 pandemic with the full backing of the Treasury that it was able to help some 549 companies and all their suppliers sell to 77 countries around the world last year?