Oral Answers to Questions

Ian Levy Excerpts

Tuesday 7th May 2024 Commons Chamber

[Jeremy Hunt]

The hon. Gentleman knows perfectly well that he has taken my comments out of context. I will tell him what is really out of touch: the shadow Chancellor saying it is not a big deal if inflation falls.

[Ian Levy (Blyth Valley) (Con)]

Cramlington has a world-leading pharmaceutical company, Organon, which employs 700 people and produces medicine for the UK market as well as abroad, with a particular focus on women’s health. Will my right hon. Friend the Chancellor please meet me to discuss the impact on pharmaceutical investment?

[Gareth Davies]

My hon. Friend is absolutely right. The pharmaceutical industry is worth some £14 billion to our economy. I am pleased to tell him that the industry has seen a twelvefold increase in equity financing in just the past decade, and I would be pleased to meet him to discuss that further.

Economic Update

Ian Levy Excerpts

Monday 17th October 2022 Commons Chamber

[Jeremy Hunt]

I will just say this: it is the most challenging form of leadership to accept that a decision one has made has to be changed. The Prime Minister has done that, and she has done so willingly, because she understands the importance of economic stability. I respect her for it.

[Ian Levy (Blyth Valley) (Con)]

I welcome my right hon. Friend to his place. Will he please give my constituents an assurance that this Conservative Government will continue to support the most vulnerable in society with their energy bills in the months ahead?

[Jeremy Hunt]

I will absolutely give that assurance. My hon. Friend’s own background is in mental health and he understands just how vulnerable people can get. Those concerns will be topmost in our mind.

Oral Answers to Questions

Ian Levy Excerpts

Tuesday 11th October 2022 Commons Chamber

[Mr John Baron (Basildon and Billericay) (Con)]

1. What fiscal steps he is taking to support small and medium-sized enterprises.

[Ian Levy (Blyth Valley) (Con)]

2. What fiscal steps he is taking to support small and medium-sized enterprises.

[Karl MᶜCartney (Lincoln) (Con)]

10. What fiscal steps he is taking to support small and medium-sized enterprises.

--- Later in debate ---

[Kwasi Kwarteng]

I am very pleased to tell my hon. Friend that we are going to introduce the medium-term fiscal plan in three weeks’ time, but let us consider the measures that we have already introduced. National insurance hikes have been reversed, the corporation tax rise has been scrapped and the annual investment allowance remains at £1 million. These are measures that small businesses up and down the land have been very appreciative of.

[Ian Levy]

As my right hon. Friend will be aware, small businesses are the backbone of our local economy—none more than Catling Bakery in Cramlington, which has expanded from running a bakery to running a café and now a dessert bar. Would my right hon. Friend please assure me that this Government will do all they can to help these businesses thrive?

[Kwasi Kwarteng]

Absolutely right. Of course, we have also supported Catling Bakery which my hon. Friend mentions through an energy package—£60 billion for households and businesses for six months—which we absolutely felt it necessary to do.

Oral Answers to Questions

Ian Levy Excerpts

Tuesday 9th March 2021 Commons Chamber

[Steve Barclay]

With respect, the hon. Lady is simply wrong on the facts with her question. Under the Agenda for Change three-year award, the average increase this year was 2.5%, not the figure she alluded to. But of course, the Government have asked the pay review body to consider a number of factors and, as is normal practice, the Department of Health and Social Care has set out what is affordable within its budgets.

[Ian Levy (Blyth Valley) (Con)]

The Government recently confirmed the first eight sites to be awarded freeport status. That will provide great opportunities for prosperity in those areas. In my home constituency of Blyth Valley we have the only deep-water port in Northumberland, with investments in offshore wind, such as at the Catapult, as well as Britishvolt with the only gigaplant in the UK. What assessment has my hon. Friend made of granting a second round of bidding for areas such as Blyth that were not successful on this occasion?

[Kemi Badenoch]

Freeports will be national hubs for international trade, innovation and commerce and they will regenerate communities across the UK. The Ministry for Housing, Communities and Local Government led a fair, open and transparent selection process to determine successful freeport locations in England. Unfortunately, as with any competitive process, there will always be those that are unsuccessful, and I am afraid there are no plans to designate other freeports in England. Freeports are part of a wider package of UK Government support, which invests in skills, infrastructure and innovation at local, regional and national levels. As part of that package, Blyth was awarded £11 million through the future high streets fund in December and is also one of 101 towns eligible for up to £25 million funding from the towns fund.

Oral Answers to Questions

Ian Levy Excerpts

Tuesday 26th January 2021 Commons Chamber

[Jesse Norman]

As my hon. Friend says, and I thank him for it, the temporary reduced rate of VAT was introduced to support the cash flow and the viability of over 150,000 businesses and to protect 2.4 million jobs in the hospitality and tourism sectors. It was extended in September and extended again, and will now run until 31 March of this year. But the relief comes at a significant cost, and while the Government keep taxes under review, we have no current plans to extend it further. I remind my hon. Friend that there are many other aspects of our financial support that may be of assistance to his constituents.

[Ian Levy (Blyth Valley) (Con) [V]]

The Eat Out to Help Out scheme was seen by many in the hospitality industry as a lifeline for the survival of their business after the lifting of restrictions last summer. Will my hon. Friend assure me that his Department will carefully consider reinstating the scheme or something similar once we come out of lockdown?

[The Economic Secretary to the Treasury (John Glen)]

I thank my hon. Friend for his question. Across the pandemic, the Government have created a number of innovative responses, like Eat out to Help Out. We will continue to examine very carefully what package of measures we need to intervene with, and the Chancellor has indicated that he will be coming forward at the Budget with an update to the House on that package in due course.