Oral Answers to Questions Debate

Full Debate: Read Full Debate
Department: HM Treasury

Oral Answers to Questions

Kevin Hollinrake Excerpts
Tuesday 16th June 2015

(9 years, 4 months ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
David Gauke Portrait Mr Gauke
- Hansard - - - Excerpts

I have said that productivity is important. One element of that is attracting more business investment into the UK. That requires a Government who are pro-business. I am not sure that the hon. Lady’s ambition to make the hon. Member for Islington North (Jeremy Corbyn) Prime Minister will help.

Kevin Hollinrake Portrait Kevin Hollinrake (Thirsk and Malton) (Con)
- Hansard - -

In 2010, according to the World Economic Forum, the UK had the second highest burden of red tape in the G7. By 2015, we have the lowest. Does the Minister agree that that alone will have a significant impact on productivity in the UK?

David Gauke Portrait Mr Gauke
- Hansard - - - Excerpts

Yes, my hon. Friend makes an important point. Regulations that are burdensome and do not achieve their objective do nothing to help productivity; they hold businesses back. That is why it is right that for every new regulation we bring in, two are taken out.