(8 years, 2 months ago)
Commons ChamberWe are actively supporting small businesses by enhancing the business support helpline and funding growth hubs in every local enterprise partnership area in England. The new Small Business Commissioner will help with payment issues, and British Business Bank programmes support nearly £4 billion of finance to more than 60,000 small and medium-sized enterprises.
I clarify to the House that PPP stands for “programme and project partners” and not, as many might have assumed, “public-private partnership”. The programme that my hon. Friend talks about will support Sellafield in decommissioning and contains provisions designed to support small businesses. In November 2015, the Cabinet Office agreed to a target of 31% of spend with SMEs for the Government’s Nuclear Decommissioning Authority. Moreover, as the Small Business Minister, I will look at what I can do to ensure that more is done to help small businesses to win Government contracts.
Will the Minister join me in commending the work of the Erewash Partnership, which helps entrepreneurs in my constituency to start up and grow their own small businesses? Will he consider what more Government can do to help such organisations expand their support services?
I am delighted to join my hon. Friend in applauding the work of the Erewash Partnership, which she will know was a previous winner of a national enterprise award—well done them. Through our industrial strategy, all businesses in every region will have access to a growth hub. We have announced a further £24 million of core funding over the next two years for growth hubs, including the D2N2, which I understand works with the Erewash Partnership. I am delighted to work with her to do what I can to support businesses in her constituency.
(8 years, 2 months ago)
Commons ChamberI congratulate the ministerial team on their successful navigation, which has allowed the Bill to reach this stage. It is a key piece of legislation that will safeguard Britain’s international reputation as a responsible nuclear state once we have left Euratom. I believe that there is potential for significant inward investment in the UK in the post-Brexit era. We heard from my hon. Friend the Member for Copeland (Trudy Harrison) about the impacts that the nuclear industry already has in this country, but I think that we can do more.
The Government have been clear throughout the passage of the Bill that they will work to establish a close and effective working relationship with Euratom once the UK leaves the organisation, including close association on matters such as research, training and trade. Ministers have made no secret of their ambitions for the nuclear sector, and I support those ambitions. We have an opportunity for some of the UK’s leading companies to be at the forefront of world-leading new nuclear technology.
During the Bill’s passage, Ministers have been consistent in reassuring the House that leaving Euratom in no way diminishes the UK’s nuclear ambition. The announcement by the Under-Secretary of State for Business, Energy and Industrial Strategy, my hon. Friend the Member for Watford (Richard Harrington), in December of a new £86 million fund to establish a national fusion technology platform demonstrates the Government’s continued commitment to nuclear research and development, which will be welcomed by a number of my constituents who work in the nuclear sector.
The launch of the small modular reactor competition in 2016 is another example of the importance the Government attach to the UK’s civil nuclear industry to provide a secure, clean and affordable source of domestic electricity that can also be exported overseas. The UK small modular reactor consortium, led by Rolls-Royce, estimates that the design, development and production of a fleet of small modular reactors would create up to 40,000 skilled nuclear supply chain jobs and add over £100 billion to our economy. As my hon. Friend the Member for Taunton Deane (Rebecca Pow) said, our young people need to know that there is a future in the industry; they need that certainty to start on their career pathway. As the centre of Rolls-Royce’s nuclear operation in the UK, Derby has the potential to become a world leader in new nuclear technology, with the potential benefits extending across the wider region, including to my constituency. I will therefore follow closely the progress of the small modular reactor competition in the coming weeks and months.
The Bill will strengthen the UK as an independent global nuclear power, reflecting the Government’s ambitions for the sector.
(9 years, 2 months ago)
Commons ChamberMy hon. Friend makes an excellent point. Our strategy must, of course, be forward looking and must be able to create the conditions in which investors and firms can make commitments now that are going to lead to our prosperity in the future. My hon. Friend’s frame of reference is absolutely right.
I warmly welcome the Green Paper on the modern industrial strategy, but will my right hon. Friend reassure my constituents in Ilkeston and Long Eaton that traditional industries such as lace-making and upholstery, which contribute so much to our local economy, will not get left behind?
I am interested to hear this observation from my hon. Friend. We are talking about a consultation. It is important to participate in the new industries, so that through our research and development and scientific expertise we can take our place in that respect, but of course a lot of our existing industries make an important contribution to our economy and to employment, and we want to make sure that they can prosper, too.
(9 years, 6 months ago)
Commons ChamberThe Government’s industrial strategy will position the UK as a global leader for the 21st century. The UK bio-economy is worth £220 billion in gross value added—13.6% of total GVA in 2014—with potential to grow by 13% by 2030. We shall continue to invest strongly in it.