Industrial Strategy

Jim Cunningham Excerpts

Wednesday 18th April 2018 Commons Chamber

[Greg Clark]

I do indeed. In using that expression, as I think was evident from the context, I was praising the contribution that has been made from all parts of the United Kingdom. I am looking forward to being in Edinburgh tomorrow to give evidence on the industrial strategy to the Scottish Parliament. The work that we have done with the Government in Scotland has been very important. We had a very effective consultation session in Edinburgh. Many colleagues in Scotland contributed to it, and they see the results of it there.

[Mr Jim Cunningham (Coventry South) (Lab)]

The Secretary of State talks about an industrial strategy, which, in general terms, we welcome, but running alongside that we need to have an investment strategy, particularly in new technological developments and in energy areas such as electric cars. Will he say something about an investment strategy as well, because the regulator plays a big part in this?

[Greg Clark]

I am coming on to talk about that, but I will say now that one of the major breakthroughs in the industrial strategy is to recognise the utmost importance of investment in research and development, not only on the part of the private sector but on the public sector side as well. All around the world, advanced nations are investing in the future through R&D, and we have in the industrial strategy the biggest increase in research and development that we have ever seen in this country. It is a matter of pride that we were able to achieve that.