Backing Business to Create Economic Growth
Debate between Peter Kyle and Harriet Cross(3 weeks, 3 days ago)
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Peter Kyle
The whole purpose of the debate is to emphasise that economic growth matters. In the last full year in which the Conservatives were in office, economic growth stood at 0.4%. In the first full year of this Government, it was 1.4%. The hon. Lady should be apologising for the state in which she left the economy, leaving us to pick up the pieces.
This growth has been driven by an activist, interventionist Government who back British business—a Government who are not afraid to roll up their sleeves and make the big calls when big times demand it. From Jaguar Land Rover in the west midlands to Ineos in Scotland, Agratas in the south-west, Tata Steel in Wales, and Harland & Wolff across the United Kingdom, we step in to invest, modernise and protect British industry when necessary. We step back by reducing unnecessary regulation when that is possible, and step up to modernise our critical national economic infrastructure where that is vital: supporting the third runway at Heathrow that the Conservative party curtailed; expanding the Oxford-Cambridge corridor where the Conservative party hesitated; backing Northern Powerhouse Rail which the Conservative party cancelled. This Government have confirmed £45 billion of funding for Northern Powerhouse Rail to upgrade lines east of the Pennines and to bring forward a brand-new route connecting Liverpool and Manchester.
Harriet Cross (Gordon and Buchan) (Con)
That was a great list, but what was missing from it was the oil and gas sector, and specifically the £17 billion of investment that was lost as a result of the Government not scrapping the energy profits levy and the £50 billion of investment lost because of their ban on new licences, and other hostile policies. Will the Secretary of State reflect on those, and on the damage that the Government are doing to growth not only in the north-east of Scotland but in the United Kingdom as a whole?
Peter Kyle
This Government have invested in industry up and down the country, from Agratas in the south-west, where we are investing in gigafactories, to Ineos in Scotland. We are investing in the industries that are keeping our country going, and we have put growth into the economy.
UK Steel Strategy
Debate between Peter Kyle and Harriet Cross(2 months, 3 weeks ago)
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Peter Kyle
My hon. Friend speaks to many different sectors and industries, all of which we have stepped in to support since coming into office. We are investing in their modernisation and putting them on a sustainable footing for the future. He asks me to redouble my efforts—I have redoubled my efforts every day in this job. He will see from how my Department and I acted when Jaguar Land Rover had its hour of need and when Grangemouth needed support and investment, and from today’s steel strategy, which I announced on a visit to Port Talbot just yesterday, that this is a Government who seek to modernise and to protect where necessary, but always to invest in the future.
Harriet Cross (Gordon and Buchan) (Con)
What assessment, if any, has the Department made of the impact that moving from blast furnaces to arc furnaces will have on our virgin steel capabilities? The Minister for Trade, who did the morning round, seemed to accept that it would mean our virgin steel capabilities being undermined.
Peter Kyle
I can reassure the hon. Lady that all grades of steel that are needed by the British economy will be available post transition.
Oral Answers to Questions
Debate between Peter Kyle and Harriet Cross(1 year, 3 months ago)
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Peter Kyle
The Government are working to develop a world-leading science and technology skills base that will drive economic growth and opportunity for all. We are committed to expanding access and participation in science and technology education, and we are partnering with universities to build the skills and workforce across the United Kingdom.
Harriet Cross (Gordon and Buchan) (Con)
Peter Kyle
This Prime Minister has delivered the AI opportunities action plan; this Prime Minister is deploying AI technology and productivity tools across Government; and this Prime Minister has brought in £30 billion in investment into digital and AI infrastructure since taking office. At the same time, this Prime Minister is sorting out the mess left after 14 years of Tory rule.