Philip Hollobone
Main Page: Philip Hollobone (Conservative - Kettering)Department Debates - View all Philip Hollobone's debates with the Department for Education
(10 years, 9 months ago)
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Mr Philip Hollobone (Kettering) (Con)
May I report from Northamptonshire that businesses are not having to go to lending to invest, but generating their own cash? The latest survey from the Northamptonshire chamber of commerce shows that
“44% of manufacturers and 21% of service sector respondents reporting an improvement”
in their cash flow
“with 24% proposing to invest in plant and machinery and 44% in training.”
Businesses are not necessarily dependent on lending from banks.
Matthew Hancock
Of course some businesses are dependent on lending and it is very important to ensure that that problem is sorted out, but my hon. Friend rightly raises the fact that many businesses have an increasing amount of cash on their balance sheets. Encouraging them to get out and spend that cash and invest is an absolutely critical reason for increasing business confidence. I am delighted that business confidence is at record levels. Northamptonshire is one of the most supportive places for business and has recently won an award for exactly that.
Vince Cable
UKTI is now regarded as an excellent service for business. It has a dedicated unit devoted to high-value opportunities and big inward investment in the UK. I visited India recently and met a substantial number of Indian companies, both in the service sector, such as call centres, and in manufacturing, such as aerospace, that are targeting the UK to re-shore production here from India.
Mr Philip Hollobone (Kettering) (Con)
Tomorrow in Kettering, with local employers, Tresham institute will launch Experience Kettering, a workplace experience scheme for hard-to-place young people aged 18 to 24. Would the Skills Minister congratulate Tresham institute on this initiative and send some words of encouragement?
Matthew Hancock
I would be delighted to congratulate Tresham institute on what it is doing to help young people into work. Work experience is a vital part of getting a job and I hope it is also working on the new traineeship programme, which is designed to help people into an apprenticeship or a sustainable job.