Industrial Strategy

Lindsay Hoyle Excerpts

Wednesday 18th April 2018 Commons Chamber

[Rebecca Long Bailey]

rose—

[Mr Deputy Speaker (Sir Lindsay Hoyle)]

Order. I just remind people that we have a lot of speakers in this debate. Short interventions, please.

[Rebecca Long Bailey]

I thank the hon. Lady for her comments, which are rather illuminating. I wonder whether she could share with the House how her region managed to secure those additional resources, so that we could let our colleagues know about it. That simply does not seem to be the case right across Britain.

Now, there was also a clear failure in business support. The Government’s proposals recognised that we need both public and private investment. Similarly, the Labour party has pledged to mobilise £250 billion of lending through a national investment bank and a network of regional development banks. However, the Government’s proposals fall far short of that. I said in the House last year that sector deals, a £2.5 billion investment fund incubated in the British Business Bank and yet another review into encouraging SME growth were simply not good enough. There was a clear failure to recognise the impediments that many businesses face when attempting to access finance and, indeed, there was a failure to protect businesses more generally.

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[Several hon. Members rose—]

[Mr Deputy Speaker (Sir Lindsay Hoyle)]

Order. I am reducing the time limit to five minutes.