Marcus Jones
Main Page: Marcus Jones (Conservative - Nuneaton)(11 years, 8 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Vince Cable
Construction is one of the key enabling sectors; it has to be. It has been doing badly in recent years, since the collapse of the housing and commercial property boom, and is in considerable distress. One of the reasons why the economy is not growing is what is happening in construction projects. To address the problem, the Government are now deploying a combination of support for infrastructure, the guarantees that the Chancellor has announced and the initiatives on housing and planning that were announced a couple of days ago.
Mr Marcus Jones (Nuneaton) (Con)
Many of my constituents work in the motor manufacturing industry, which has grown strongly in the past two years. Many UK motor manufacturers are now looking to repatriate their supply chains back to the UK. What support and help can the Secretary of State offer to facilitate that aspiration?
Vince Cable
That is absolutely right. It is very important that we stress this. The big investment that has been made by the main car companies—the original equipment manufacturers—is only part of the story. There is now a will to bring back a lot of the lost supply chains, which went for a variety of reasons, including exchange rates and a fashion for outsourcing that has been partially reversed. This is being actively pursued through the Automotive Council, which is involved with the Government in doing so. As my hon. Friend may know, we have a supply chain funding initiative that is currently open to competition, and a variety of bids have come in actively to support the process that he describes.