Margot James
Main Page: Margot James (Conservative - Stourbridge)Department Debates - View all Margot James's debates with the Department for Education
(12 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Prisk
In the first three quarters, the numbers on net lending stand at £66 million. [Interruption.] What I am trying to say to the hon. Gentleman is that we are committed, through Merlin, to ensuring that lending this year is greater than last year. He needs to be careful in this area, because, as he knows, such schemes are subject to demand. [Interruption.] He asked about credit easing, and I will come to that point. I say to the hon. Gentleman that the £20 billion that the Chancellor has put forward is substantially important and will bring about an important increase. What the Opposition need to remember is that we are actually delivering an increase in lending this year over last year. They did not deliver that. We are, and that is the difference.
Margot James (Stourbridge) (Con)
5. What steps his Department is taking to support the commercialisation of new discoveries in life sciences.
The Minister for Universities and Science (Mr David Willetts)
The UK life sciences sector employs 170,000 people with a turnover of £50 billion, but it is facing enormous challenges, which is why the Prime Minister launched an ambitious new life sciences strategy on Monday. That includes a £180 million catalyst fund to aid commercialisation of new discoveries. We have also improved the regime for clinical trials in the interests of patients and opened up the NHS to innovation.
Margot James
I very much welcome the life sciences strategy published by the Government earlier this week. What plans does my right hon. Friend now have to support the development of geographic clusters that will foster collaboration between industry, the NHS and academia?
Mr Willetts
My hon. Friend has absolutely described what a cluster is; I congratulate her. We support them. They are important for innovation and growth. Indeed, in the proposals published today, we are talking about making it easier for groups of institutions to come together to bid for funding from research councils, and also our enlightened Treasury has agreed that in future there will not be VAT on cost-sharing arrangements in which groups of institutions come together to share services in the interests of efficiency.