Business of the House

Philip Davies Excerpts

Thursday 3rd November 2011 Commons Chamber

[Sir George Young]

I look forward to welcoming the UK Youth Parliament to this Chamber tomorrow and to making a short preliminary address along with you, Mr Speaker, and the hon. Member for Wallasey (Ms Eagle). I hope that many of those young people will return in due course as Members when the Chamber is sitting, rather than on a non-sitting Friday.

We are to debate youth unemployment on Wednesday on an Opposition day. I remind the hon. Lady that youth unemployment went up by 40% under the previous Government, at a time when the economy was doing better than it is currently. The Opposition therefore have little to lecture us about on that.

The Localism Bill does not actually include the national planning policy framework. I hope that the hon. Lady will welcome what is happening on Monday, when we will spend a whole day on localism. There are a number of Government amendments that I hope will be welcomed on both sides of the House because we have listened to the debate on the Bill and made some changes.

On forecasts, the hon. Lady ought to know that the Government do not make economic forecasts. That is done by the Office for Budget Responsibility. Its next report will come out on 29 November when the Chancellor makes his autumn statement. Some of the issues that the hon. Lady raised in relation to the IMF have just been dealt with by my hon. Friend the Financial Secretary.

I am sorry that the hon. Lady did not find time to welcome the news from earlier this week about the revival of Stanley dock in north Liverpool, as a result of the regional growth fund, which will help to reduce unemployment in and around her constituency.

Finally, on executive pay, it is worth reminding the House that the average chief executive of a FTSE 100 company earned 47 times the amount earned by the average employee in 1998 and 115 times that amount in 2009, so the gap actually widened under the last Labour Government. I agree with the hon. Lady that there is an unsustainable disconnect between how our largest listed companies perform and the rewards that are on offer. Concern on that comes not just from Government, but from investors, business groups and others. We are considering ways to reform remuneration committees and to empower shareholders, for example by making shareholder votes on pay binding and ensuring that there is shareholder representation on nomination boards. We are consulting on a number of issues, but at the end of the day, it is up to shareholders rather than the Government to determine executive pay.

[Philip Davies (Shipley) (Con)]

May we have a debate on transport funding? A recent survey showed that Bradford was seen as one of the most congested cities in the country. My constituency is probably the most congested part of the Bradford district. I am not asking for extra funding for transport, given the terrible financial legacy that this Government were left by their predecessor. What I am asking for is that Yorkshire gets a fairer slice of the transport cake and that Bradford gets an even fairer slice than that.

[Sir George Young]

I understand my hon. Friend’s anxiety that a larger share of the transport budget should be allocated to his constituency to deal with congestion. There will be an opportunity at Transport questions on 10 November for him to press the case for more funding for his constituency with my right hon. Friend the Secretary of State for Transport, whom I will forewarn that my hon. Friend is on the way.