(1 year, 8 months ago)
Commons ChamberThe Leader of the Opposition led his charge against the Budget by saying that the UK was the sick man of Europe, yet the IMF shows that the UK had the fastest-growing economy in the G7 not just last year but the year before, and that since the Conservatives came to power in 2010 the UK has had the fastest-growing economy of the major economies in Europe. Does my right hon. Friend the Chancellor agree that, although there are clearly major economic challenges, there are many reasons—not least the tech sector in South Cambridgeshire—to be confident about the future of the UK economy?
I completely agree and, thanks to the brilliant efforts of the tech sector in South Cambridgeshire, we have now become the third largest tech sector in the world, after the United States and China, thanks to the Conservative Government.
(1 year, 9 months ago)
Commons ChamberI welcome the fact that this Government are so committed to making the UK an innovation nation that they have just today set up a whole new Government Department to promote innovation, science and technology. I have about 400 life science companies in my constituency, and there are some reservations about the reform to the research and development tax credit, introduced to try to tackle fraud in the sector. Can my right hon. Friend reassure them that the Government are still committed to supporting research and development companies while tackling fraud?
My hon. Friend is a formidable advocate for that sector and I do want to give him that reassurance. That is why we protected our R&D budget in the autumn statement at its highest ever level. We are continuing to look at how we can support the R&D small companies sector without allowing that fraud to happen. Thanks to his campaigning and the work of this Conservative Government, last year, we became only the third trillion-dollar tech economy in the whole world.
(2 years ago)
Commons ChamberI do not deny for one second that Brexit will be a change in our economic model, but whether we make a success of it is up to us. This Government will make a success of it and make it a tremendous opportunity.
I congratulate my right hon. Friend the Chancellor on this carefully crafted and balanced autumn statement, where he managed to fill the fiscal black hole without raising the headline rates of tax, as well as protecting education, the health service and pensioners. All the research institutes in my constituency will very much welcome the commitment to keep R&D funding going up to £20 billion a year. I look forward to grilling him on some of the details when he appears before the Treasury Committee.
My constituency is the life sciences capital of Europe, but it suffers acutely from a shortage of nurses and doctors. I have been working with medical groups to try to push for higher levels of training with up to 15,000 places a year for doctors, so I welcome the fact that the Chancellor agrees with himself and wants to introduce a long-term NHS workforce plan. Can he confirm whether one of its objectives will be to ultimately make the UK self-sufficient in the training of nurses and doctors?
Absolutely, because the NHS as it stands at the moment would fall over without the brilliant contribution made by doctors and nurses born or trained overseas. I think it is about 24% of doctors in the NHS at the moment. We always welcome international exchanges, but in the end a huge health organisation such as the NHS—the biggest health organisation in the world—should be training the number of doctors and nurses that it needs itself. With a 2 million shortage of doctors worldwide, there is no other alternative.