Backing Business to Create Economic Growth
Debate between Peter Kyle and Iqbal Mohamed(3 weeks, 3 days ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Peter Kyle
The right hon. Member mentions irony; this is from the party that gave us the Liz Truss mini-Budget, which wreaked havoc on our economy. Mortgage rates went up for every mortgage holder across the country, with inflation peaking at 12%, yet the Conservatives talk about instability. The country still lives with the instability that they wreaked on it.
Our major expansion of DRIVE35 is channelling investment into batteries, electric motors and power electronics—part of the biggest Government investment in the British car industry since the second world war. “Invest”, “modernise” and “protect” are the watchwords for the new industrialisation of Britain through our biggest industries, our biggest sectors and our boldest companies.
Iqbal Mohamed (Dewsbury and Batley) (Ind)
The Secretary of State talks about deregulation, but we have seen what that has led to in the finance sector, the banking sector and the water industry: consumers end up paying the price. The Secretary of State also talks about AI; speaking way back in 2014, Stephen Hawking cautioned:
“The development of full artificial intelligence could spell the end of the human race.”
Why do the Government believe that deregulating AI is going to assist their growth mission? It will put consumers’ lives and the human race at risk.