Oral Answers to Questions

John Denham Excerpts

Thursday 24th May 2012 Commons Chamber

[Mr Willetts]

I am sure that there is always more we can do to promote LEPs, but they are already playing a crucial role in the allocation of the regional growth fund. I very much look forward to visiting Norfolk later today when I will have the opportunity of announcing further investment in that important county.

[Mr John Denham (Southampton, Itchen) (Lab)]

In the time that Ministers in this Government had dozens of meetings with Google, one of the few British IT companies to achieve global status, Autonomy, has been taken over and today tragically destroyed. May I suggest to Ministers that instead of spending so much time cosying up to American giants that just want to protect their monopolies, they should talk to people such as Mike Lynch, the founder of Autonomy, to understand why it is so difficult for British innovative companies to get the long-term finance on their own account that they need to become global leaders?

[Mr Willetts]

Let us make it absolutely clear. My fellow Ministers and I talk on an even and equitable basis with Autonomy and Mike Lynch, of course, and with HP and Google. Indeed, we have set up a council to plan our strategy for e-infrastructure and high-performance computing in which their advice is greatly valued. Yes, it is very important that we invest in high-technology companies, but I cannot believe that a former Secretary of State is actually saying that we should have direct controls to stop a company such as Autonomy being taken over.