Oral Answers to Questions

Debate between Peter Kyle and Alan Mak

Wednesday 20th November 2024 Commons Chamber

[Mr Speaker]

I call the shadow Minister.

[Alan Mak (Havant) (Con)]

On the Opposition Benches we are proud that it was the last Conservative Government who created the Department for Science, Innovation and Technology. I am glad that Labour is following our agenda, and I look forward to my exchanges with the Secretary of State.

Under the last Conservative Government, Britain was home to more billion dollar tech start-ups than France and Germany combined, but last month an industry survey found that nearly 90% of tech founders would consider leaving Britain if Labour raised taxes on tech businesses. Yesterday, Labour U-turned on policy in Scotland, so today will the Secretary of State commit to reversing Labour’s jobs tax, which damages tech businesses across the entire country?

[Peter Kyle]

I welcome the hon. Gentleman to his post. We worked together on the all-party parliamentary group on the fourth industrial revolution, which he chaired, and I look forward to having a constructive relationship going forward.

The hon. Gentleman mentioned the last Government. Given the way the Conservatives are going, that will have been their last Government. To be honest, the circumstances that businesses, large and small, operating in the tech landscape have asked for are a smooth regulatory process—we have already delivered regulatory reform; reform to planning—we have delivered reform to the planning system; a stable financial settlement—we have delivered that with a Budget for—

--- Later in debate ---

[Alan Mak]

I thank the Secretary of State for his kind words, but he has punished labour: figures from his own Department show that workers will be losing out by nearly £800 each per year as a result of Labour’s Budget. Will he stand up to the Chancellor and oppose any further tax rises on Britain’s hard-working tech sector?

[Peter Kyle]

The Budget gave a pay rise to working people in this country and set the conditions for a stable economy, fixing the black hole left in our economy by the mismanagement of the last Government.