Oral Answers to Questions
Debate between Jacob Young and Rishi Sunak(2 years, 6 months ago)
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Rishi Sunak
Of course we want to be able to support those women, mothers and families who rely on us in these hard times, and that is exactly what this Government are doing. Over the past 10 years, as I said, we have reduced the number of people in poverty. We know that the best way to do that in the long term is to support people into work, which is why I am delighted to see this morning that unemployment is at its lowest level in almost half a century. The single best way to fight poverty is to have a plan for jobs, and our plan is working.
Jacob Young (Redcar) (Con)
One of the best ways to reduce economic inequality is through our plan for jobs and our freeport programme. To that end, will the Chancellor join me in welcoming the latest investment announced in Teesside’s freeport, a £150 million renewable gas facility for Circular Fuels that will create 200 jobs in construction and further jobs in the supply chain?
Rishi Sunak
My hon. Friend is absolutely right. He has been a fantastic champion for his constituents and Teesside in getting the freeport. We are now seeing the proof of that policy, with yet another announcement of more investment and more job opportunities for his constituents, which he rightly says is the best way to support them through these challenging times.
Economic Update
Debate between Jacob Young and Rishi Sunak(2 years, 10 months ago)
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Rishi Sunak
I will let this Government’s record on economic policy speak for itself. It is a record of which I am proud. I can provide the hon. Gentleman with the reassurance that I and the Government remain committed to tackling fraud wherever we see it. He mentioned the figure of £4.9 billion. As I said to the House in oral questions on Tuesday, that estimate has already been reduced by a third—by £1.6 billion—because of the actions that we are taking. I will not go into them all now, but he should know that we will go after everyone wherever we can to recover that money for the taxpayer, and I am confident that we will do a very good job.
Jacob Young (Redcar) (Con)
This is a targeted package that helps those just about managing, which is entirely right. The last Labour Government closed six nuclear power stations and had a policy of no new nuclear. Does my right hon. Friend agree that, alongside these measures to help people in the short term, it is imperative that we invest in our long-term energy security—in domestic gas production, in renewables, and, crucially, in new nuclear?
Rishi Sunak
My hon. Friend is absolutely right about some of the failures of policy that the Labour party propagated in power. That is being fixed by my right hon. Friend the Secretary of State of Business, Energy and Industrial Strategy. We are investing not just in new nuclear, as he said, with billions of pounds at the spending review, but in offshore wind, and—as he knows in his part of the world—carbon capture and storage and hydrogen, where Teesside is playing a starring role in that green energy revolution.
Oral Answers to Questions
Debate between Jacob Young and Rishi Sunak(2 years, 12 months ago)
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Jacob Young (Redcar) (Con)
A key way to support economic growth is to help level up our forgotten high streets, such as Eston Square, where the old precinct building is blocking key investment and preventing new businesses from moving in. When the Chancellor is next up in Teesside, will he come with me to Eston, and meet leaders at Redcar and Cleveland Borough Council to see what can be done to level up Eston Square?
Rishi Sunak
Yes, I would be very happy to. I am fresh from my visit to Yarm High Street last week to see levelling up in action, and I am back up in the north-east this week.
Oral Answers to Questions
Debate between Jacob Young and Rishi Sunak(4 years, 1 month ago)
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Jacob Young (Redcar) (Con)
If he will make a statement on his departmental responsibilities. [907821]
The Chancellor of the Exchequer (Rishi Sunak)
This Government have put in place a £200 billion programme of support to help jobs and businesses throughout this crisis. Although we will not be able to save every job or business, we remain committed to doing what we can to protect the economy and people’s livelihoods at this difficult time.
Jacob Young
This Government have taken extraordinary steps to protect the economy and now we must take the extraordinary steps to unlock it. Uncertainty stemming from coronavirus and the volatility of the oil price is leading to delayed investment in the Tees Valley. One thing that could break the deadlock in that investment would be the announcement of a free port in Teesside. Will my right hon. Friend assure the House that he will not delay the roll-out of 10 new free ports? Does he agree that a free port in Teesside could lead to thousands of new jobs for my constituents in Redcar and Cleveland?
Rishi Sunak
My hon. Friend—like my hon. Friend the Member for Middlesbrough South and East Cleveland (Mr Clarke) and the Mayor of the Tees Valley, Ben Houchen—is a fantastic champion for the free ports agenda. They are all absolutely right: this policy can unlock investment and growth, and therefore create jobs in parts of our country that want to see that growth. I can assure my hon. Friend that I look forward to receiving the bid that, no doubt, he and his colleagues are putting together for us.
The Economy
Debate between Jacob Young and Rishi Sunak(4 years, 2 months ago)
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Rishi Sunak
The hon. Gentleman is absolutely right about the importance of offshore wind to our economy. It is something that we have a global strategic competitive advantage in, and this Government will continue to support the sector in the way that we have. I am always open to new ideas about how to do that, but we must ensure that we double down on our advantage and drive jobs in every part of our country, not just in Scotland but in the north-east, where we have considerable advantages over other countries, not just in providing energy but now in manufacturing more of the content that goes into our turbines.
Jacob Young (Redcar) (Con)
I thank my right hon. Friend for his statement. Does he agree that, as the coronavirus is now threatening our recovery, it is right that we focus our support on the problems that businesses in Redcar and Cleveland and elsewhere are facing right now? Support for viable businesses and viable jobs through a time of depressed demand due to the restrictions that virus threatens is exactly what the new job support scheme delivers.
Rishi Sunak
My hon. Friend is absolutely right. He knows all too well what the businesses in his constituency need, which is support to get through this period of depressed demand. They need our support to protect those viable jobs and to help them get through to the other side, and that is exactly what the job support scheme will deliver.
Covid-19: Economic Package
Debate between Jacob Young and Rishi Sunak(4 years, 6 months ago)
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Rishi Sunak
We did give consideration to proposals that we received and worked with our systems, which is why we were able to extend the date from 28 February to 19 March, the day before I made the announcement. To me, that is a reasonable and defensible date to choose. It is important not to underestimate the operational challenge of creating these schemes and ensuring that they work for people. As I said at the time, from announcement to the scheme going live was a matter of weeks. Thousands of people worked their socks off to make that happen, and several million people’s pay packets are now being supported because that all works. These things are not straightforward to do, and changing them and adding complexity to them will simply make it more likely that they do not work and that people have to wait a lot longer to get the support they desperately need at this time.
Jacob Young (Redcar) (Con) [V]
I welcome the fantastic announcement about the coronavirus job retention scheme, and thank my right hon. Friend for all that his Department is doing to support businesses in Redcar and Cleveland, with the CJRS, the coronavirus business interruption loan scheme and the new bounceback loans. Will he reassure me and employers in my constituency that this support will be kept under review so that it reaches the businesses that need it most?
Rishi Sunak
I can give my hon. Friend and constituency neighbour exactly that reassurance. I thank him for all that he is doing to support his businesses and constituents at this time. I very much welcome the advice that he has given me, as he has fed back what he is hearing on the ground from businesses in the north-east. He and I have a shared ambition to make sure that Teesside drives our economic recovery as we come out of this situation, and I look forward to continuing those conversations with him.
Oral Answers to Questions
Debate between Jacob Young and Rishi Sunak(4 years, 8 months ago)
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Rishi Sunak
We hope to have something to say very shortly. Implementation will take longer for the reasons I outlined, when a good point was made about capacity, whether at HMRC or DWP, to deliver brand-new schemes. However, in terms of saying what we plan to do, hopefully we can do that relatively shortly. Implementation will take longer because of the clear delivery challenges that the scheme would pose.
Jacob Young (Redcar) (Con)
I thank my right hon. Friend and the Treasury team for all their work to help people through this crisis. Will my right hon. Friend outline when employers can access the scheme for job retention scheme and furloughed workers?