Start-up Loans

Jonathan Edwards Excerpts

Wednesday 20th November 2013 Commons Chamber

[Matthew Hancock]

Absolutely. The development and acceleration of the scheme includes an acceleration in people being able to get hard cash. In many cases, the turnaround time from application to delivery of the cash is about two weeks and, given that speed kills in relation to starting a new business, that is an important part of the process.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

A Welsh Government-sponsored report by Conservative member Professor Dylan Jones-Evans recently recommended the establishment of a publicly-backed Welsh development bank, very much based on a model proposed by my party, Plaid Cymru. Will the Minister enter into negotiations with the Welsh Government, give them a nudge and offer Treasury support for that concept to ensure that Welsh businesses get the access to finance that they deserve?

[Matthew Hancock]

I can do better than that. In collaboration with the Welsh Government, the roll-out of start-up loans in Wales commenced on 15 October, and I would encourage anybody in Wales to get involved.

Oral Answers to Questions

Jonathan Edwards Excerpts

Thursday 24th October 2013 Commons Chamber

[Vince Cable]

On the contrary, the share register is dominated by large long-term institutional investors, most of whom hold the savings of millions of our citizens.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

This afternoon, I am due to meet for lunch that great Welsh export and one of the world’s best rugby players, George North. As the Secretary of State knows, George North was bought by Northampton from the mighty Scarlets at a very reasonable price during the summer. Does he think that the hedge funds feel the same as Northampton Saints, because they have acquired the Royal Mail crown jewels at a cut price?

[Vince Cable]

No; in fact, the offer was framed in such a way as to ensure that the shares were acquired predominantly by long-term institutional investors. A few hedge funds are involved and, indeed, some hedge funds take a long-term view.

Oral Answers to Questions

Jonathan Edwards Excerpts

Thursday 7th February 2013 Commons Chamber

[Michael Fallon]

My hon. Friend puts it very well. Royal Mail, like any business, needs capital to be sustainable over the long term in order to continue to improve its efficiency, to invest, to innovate, and to seize the opportunities presented by new markets, not least those arising from online retailing. It should not have to compete for scarce public capital against other services such as schools and hospitals.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

What measures will the Minister put in place to ensure that Royal Mail is not taken over by a private equity firm following privatisation?

[Michael Fallon]

No decision has yet been taken on the timing and size of any share sale. The key is to ensure that a big, successful company is no longer denied access to the capital markets.

Enterprise and Regulatory Reform Bill

Jonathan Edwards Excerpts

Wednesday 17th October 2012 Commons Chamber

[Jo Swinson]

I thank the hon. Gentleman for his intervention, which highlights the crucial role of ACAS in this area. My predecessor gave reassurances in Committee, but I say again that ACAS will be adequately resourced. It is absolutely essential that that is the case in order to deliver early conciliation. Indeed, I remind hon. Members that in his evidence to the Committee, the chair of ACAS, Ed Sweeney, said that he was confident that the Government would make sure that ACAS will be adequately resourced. I am glad to be able to give that reassurance to the House.

Amendment 51 would add a power to make regulations which would prevent an employer from seeking costs against an employee at tribunal, or to take any other measures that would incentivise employers to take part in the conciliation process. Amendment 57 would have the effect of providing those individuals bringing claims under a particular Act, whose limitation period would otherwise expire during the period of early conciliation or within one month of the conciliation process ending, with an additional six months in which to lodge their claim with the tribunal.

I recognise the intent behind the amendments tabled by Opposition Members; they clearly share our belief that resolving disputes is best done between the parties, rather than at an employment tribunal—as, I believe, do those involved in the process. There has been broad support for the introduction of early conciliation, both in the House and from employers and employees, who recognise the benefits that it offers. It is the benefits—savings in time and cost, and in the considerable stress of the tribunal process—that will encourage parties to engage in conciliation, rather than a change in the rules to prevent respondents from seeking a costs order.

The rules on costs orders are clear: costs may be ordered by a tribunal where a party has acted vexatiously, abusively, disruptively or otherwise unreasonably in bringing or conducting proceedings. However, it is rare that parties act in such a manner; the vast majority of cases are where there is a genuine disagreement between the parties, which is why only 1,311 of these awards were made in 2011-12.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

Do the Government recognise that the reason behind the amendments is the concern that many hon. Members have that the Government’s plans will reduce access to justice?

--- Later in debate ---

[Mr Wright]

Those hon. Members who served on the Committee will recall that we spent a great deal of time considering whether the green purposes of the green investment bank, as set out in clause 1, were appropriate—namely, whether they were too restrictive or limiting to prevent long-term investment in innovative low-carbon technologies or too wide or broad as to mean that high-carbon investments could not be considered by the bank. As I said, we deliberated over this issue in Committee at length.

Of the five criteria, only one needs to be met to justify the appropriateness of investment by the bank. Was clause 1(1)(b), which refers to

“the advancement of efficiency in the use of natural resources”,

sufficiently tight and robust to deal with the need to ensure that the green economy and the transition to a low-carbon economy are put into effect? In Committee, I used the example of a gas-fired power station that might be marginally more efficient in its use of the earth’s natural resources given 2012 levels, but might well be seen as hopelessly dirty and inefficient by 2030.

That is the purpose of new clause 22—to deal with concerns that investments by the bank might not be in keeping with its green purposes, or at least the spirit behind those purposes. That is why we thought that making an explicit link with the Climate Change Act 2008 would be the best way for an appropriate balance to be struck between giving the bank the flexibility to consider its investment portfolio and ensuring that it cannot and does not decide to fund high-carbon investments. New clause 22 therefore proposes that the green investment bank assesses whether its investment portfolio helps the achievement of carbon budget and greenhouse reduction targets as set out under the 2008 legislation.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

Do the criteria that the hon. Gentleman has noted extend to nuclear energy?

[Mr Wright]

We can consider that when hon. Members debate new clause 25. We had considerable debate about it in Committee. The question now is: what is the purpose of the green investment bank? Is it to ensure that we can kick-start innovative technologies that cannot have market buy-in, or is it a question of ensuring that the targets set out in the 2008 Act are met? There is a conflict there, which we considered in Committee at some length. I think that there is potential to consider nuclear, certainly in respect of the nuclear supply chain and ensuring that we can achieve these objectives. I am keen to hear the debate on this matter in the next few moments. It is important to probe the Government on whether this is an appropriate avenue for the bank to invest in.

Higher and Further Education

Jonathan Edwards Excerpts

Tuesday 11th September 2012 Commons Chamber

[Shabana Mahmood]

If the hon. Gentleman had not decided to patronise me at the beginning of his intervention, he might have had enough time to complete his mini-speech. I will move on later to the record drops we have seen in the number of applications, including from mature students, and the increase in the withdrawal rate for students who have been offered university places but decided not to take them, which stands in direct contrast to the rather more rosy picture he is trying to paint.

As I was saying, the Liberal Democrats went into the 2010 general election promising to scrap tuition fees altogether—we all remember that famous pledge—but they broke their promise, and the trust of those who voted for them, and betrayed the students whose votes they courted so assiduously ahead of the election. I wonder how many of them will rediscover their pre-election principles in the Lobbies tonight. Although the Conservatives are no doubt pleased that most of the anger surrounding the betrayal on tuition fees has focused on the Liberal Democrats, they too have form, having previously voted against a rise in tuition fees to £3,000.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

I am grateful to the hon. Lady for giving way and congratulate her on her appointment. The motion

“calls on the Government to change course and, as a first step, reduce tuition fees to £6,000”.

As she knows, in Wales fees are substantially lower, and in Scotland there are no fees at all, so if right hon. and hon. Members from Wales and Scotland support the motion, are they in effect advocating an increase in fees to £6,000 in their respective countries?

[Shabana Mahmood]

Both the motion and our alternative proposal for the Government of a £6,000 cap on fees reflect our position as it relates to England, not the devolved Administrations. The Conservatives and the Liberal Democrats have played politics with tuition fees in the past, and it is students today who are paying the price.

Oral Answers to Questions

Jonathan Edwards Excerpts

Thursday 27th October 2011 Commons Chamber

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

UKTI has no presence in Wales, so what discussions has the right hon. Gentleman had with the Welsh Government to ensure that UKTI is doing its best to promote Welsh exports?

[Vince Cable]

Of course the Welsh Government, as a devolved Government, have more responsibilities of their own in this field, but Wales is part of the UK and I will do my best to work with my Welsh Government colleagues to promote exports. I have already talked to the Secretary of State about getting more Welsh businesses represented on UKTI missions and on projects of that kind.

Oral Answers to Questions

Jonathan Edwards Excerpts

Thursday 9th June 2011 Commons Chamber

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

Citizens advice bureaux have successfully piloted financial capability projects to aid the rehabilitation process. What plans does the Minister have to roll out that provision, because it could play a vital role in reducing reoffending rates?

[Mr Hayes]

I suspect that the hon. Gentleman has studied that matter rather closely. If he would like to come and speak to me and my colleagues about that particular aspect of offender learning, I would be happy for him to do so. He is right that those life skills, as well as the core skills and the employability skills that we have described in this short discussion, enable people to reintegrate into civil society in a way that is good for them, but also good for all of us because we must tackle recidivism.

St George’s Day and St David’s Day Bill

Jonathan Edwards Excerpts

Friday 13th May 2011 Commons Chamber

[Nadhim Zahawi]

My hon. Friend is quite right; the Government are considering that. As I cast my eye towards the Treasury Bench, I see no better champion of this country’s patriotism than my hon. Friend the Minister for Further Education, Skills and Lifelong Learning, who is a great patriot himself.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

I apologise for missing the start of the hon. Gentleman’s excellent speech; I was mid-way through my lunch, but I am delighted to be here strongly to support the Bill. Is not the crux of the matter that it would address a grave injustice? The Scots can celebrate St Andrew, the Irish in the north of Ireland can celebrate St Patrick, but the English cannot celebrate St George, and, of course, in Wales we cannot celebrate St David. I want to put it on the record that the entire Welsh nation strongly supports the Bill.

[Nadhim Zahawi]

I thank the hon. Gentleman for his intervention. He was a champion in helping me to draft the Bill and putting his name to it right at the outset. I am sure that his constituents and the people of Wales in general will recognise his commitment to putting this Bill on the statute book.

I spoke about the special events that could be developed by the leisure and tourism industries. In Stratford we already celebrate Shakespeare’s birthday on the weekend nearest the 23rd April. I am sure that the turnout would be all the larger and that local businesses would do all the better if the date were set in stone—the same every year—rather than having to be moved around.

We must also put the proposal in context. With only eight a year, the UK ranks 16th in Europe when it comes to bank holidays; France and Sweden have 11 a year and Germany has 12. Even the notoriously hard-working Americans have 13, although I accept that they take shorter summer holidays than we do in Europe. Are critics really saying that these extra bank holidays are pulling down those countries’ economies? Figures today from Germany and France demonstrate the growth in their economies, yet they have more bank holidays.

Finally, this policy has true cross-party support and, more important, huge public support. On St George’s day this year, I teamed up with Facebook’s Democracy UK page to ask users whether they supported the Bill. I am told that the response rate was 800% higher than usual, and I am delighted to say that an incredible 89% of respondents supported the Bill. My hon. Friend the Member for Erewash (Jessica Lee) has been presented with a petition, to be presented to the House, with the signatures of 3,674 constituents asking for a St George’s day bank holiday. Other Members have received e-mails from constituents asking that they support the Bill. In the world of research, where I hail from, YouGov found that 68% of people thought it appropriate for the country to have an extra bank holiday, with St George’s day being the most popular option.

Today we have an opportunity to do something great for this nation. It is an opportunity to tell the public that we are listening to what they want, and it is an opportunity to deliver real social and economic benefits. I hope that colleagues will join me in supporting the Bill in order to turn those opportunities into reality. I commend the Bill to the House.

Oral Answers to Questions

Jonathan Edwards Excerpts

Thursday 8th July 2010 Commons Chamber

[Mr Prisk]

The regional growth fund is entirely separate from the RDA changes. We are keen to strengthen local economies, hence our move on local enterprise partnerships, but the regional growth fund will bring £1 billion to the hon. Lady’s region and the other selected regions. It will start in 2011 and I think it is good news.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

2. When he last met the Deputy First Minister in the Welsh Assembly Government to discuss policy to support businesses in Wales.

[The Minister of State, Department for Business, Innovation and Skills (Mr Mark Prisk)]

As I gallop to Wales from the north-west, let me make sure that I give the hon. Gentleman the right answer.

My right hon. Friend the Secretary of State has not yet had the opportunity to meet the Deputy First Minister to discuss business support in Wales, but, as the hon. Gentleman will know, business support is a devolved activity.

[Jonathan Edwards]

I am sure that the Minister would like to join me in congratulating the One Wales coalition in Wales on reaching its third anniversary this month, with the Deputy First Minister’s Department having developed innovative strategies such as ProAct and ReAct. The Department is also publishing, this week, its new economic renewal programme, which focuses efforts on improving business infrastructure, such as broadband provision, in Wales. Will the Minister make representations to his colleagues in the Department for Culture, Media and Sport to ensure that the money that would have been spent for the benefit of Wales, through the independently funded news consortiums pilot, is released directly to the Welsh Assembly Government to help them to achieve their broadband objectives?

[Mr Prisk]

The economic renewal programme, which I have had an opportunity to look at, has considerable merit, not least because it moves away from the tinkering and meddling of the last Labour Government and towards infrastructure. Broadband investment is very important and the Ministers who deal with broadband will have heard his representations. The issue is important and we want to act on it promptly.

Industry (Government Support)

Jonathan Edwards Excerpts

Wednesday 16th June 2010 Commons Chamber

[Mr Bailey]

I am committed to public sector workers, but I am equally committed to those in the private sector. My point is that unless we sustain our private sector in manufacturing industry, it will be far more difficult to pay off our debt in the long term. We need to sustain our base. That, I think, is a better strategic position, and it is the position taken by the last Government.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

On Monday I visited a firm in my constituency which employs 25 people and has a turnover of about £1 million. It largely contracts its work from the public sector. Does the hon. Gentleman agree that the cuts agenda will affect not only the public sector, but the private sector as well?