Autumn Statement

John Penrose Excerpts

Thursday 17th November 2022 Commons Chamber

[Jeremy Hunt]

What I would say to the hon. Lady is that she should think about what we have done for her constituents in Bradford. When it comes to transport, we have protected the capital budgets that in the end will solve the problems she is talking about. We have also found £500 of support for the average household for their fuel bill next year. We have found more money for schools, hospitals and GP surgeries in Bradford. That will make a difference, and she should welcome that.

[John Penrose (Weston-super-Mare) (Con)]

Can I say how good it is to see the Chancellor channelling his inner Nigel Lawson by referencing not only the big bang, but his attempt to get the next big bang to happen, particularly with supply-side reforms for five key STEM—science, technology, engineering and maths— sectors, plus the much-needed roll-out of the powers for the digital markets unit in the Competition and Markets Authority? May I urge him to provide us with dates as soon as possible for when these are going to take place, because many of them are overdue and much needed? Can I further press him that there is a further supply-side reform to do with open data, which could be at least as big as any of the others he has announced today and transformational across large swathes of the rest of our economy?

[Jeremy Hunt]

I always listen to my hon. Friend on matters such as supply-side reforms and, indeed, long-term competitiveness. I want to reassure him that, while it is a long-term aspiration to become the world’s next silicon valley, we want to put those foundations in place next year. That is why, in those five growth sectors, I said that we will review and decide on changes to all the EU regulations that affect our growth industries in the next calendar year to make sure that we put those foundations in place fast.