Industrial Strategy Consultation

Lord Soames of Fletching Excerpts

Monday 23rd January 2017 Commons Chamber

[Greg Clark]

I am grateful to the hon. Gentleman for his welcome. He says that it is an interventionist strategy, and it is true that the Government should be engaged with the economy to make sure that we have the right conditions for success, but I also point out that openness for competition to have its full run in our economy is vital to our success. As Chairman of the Business, Energy and Industrial Strategy Committee, he will reflect that point. I look forward to the Select Committee’s inquiry on the strategy.

The hon. Gentleman asks how the strategy is different from its predecessors, and I would suggest two ways in particular. First, as he will have observed, many of the themes that I have discussed are not about investing in particular companies or subsidising particular businesses but are cross-cutting. The themes are horizontal in that they look at skills right across the economy, infrastructure —looking at the importance of place and the differences between places—science and research. These are cross-economy measures, which is a different approach from those taken in the past.

Secondly, a lot of efforts in previous industrial policy were correctly about innovation, but they concentrated just on new discoveries and new inventions. That is important—as I have made clear, we need to extend our excellence into the future—but there is a big opportunity to make differences for the companies that follow and in the regions that are not competing at the top level. If we can really increase productivity there, we can make a big difference to the whole economy. That has not been the focus of previous industrial strategies.

[Sir Nicholas Soames (Mid Sussex) (Con)]

May I congratulate my right hon. Friend on a bold and ambitious statement and give him a unique, once-in-a-lifetime chance to get his new training plans for technical colleges off to a tremendous start? In Haywards Heath in my constituency there is a sixth-form college that was bankrupted by Labour’s ferocious education cuts and by corporate governance that would have done credit to Al Capone. It will shortly be empty, and would be a perfect starting place for one of his excellent new colleges.

[Greg Clark]

I am grateful to my right hon. Friend for that early pitch. He highlights the important point that we should have throughout the country a better and more reliable ability to provide technical education to those who can benefit from it. Many jobs are available in West Sussex but are not accessible for people who do not have the right skills. Our plan will help to solve that.