Oral Answers to Questions

Rachael Maskell Excerpts

Tuesday 7th June 2022 Commons Chamber

[Greg Hands]

There is a lot in that question, but the scenario the hon. Lady paints is very extreme. She will know that we are looking actively at what we can do on the storage side. On producing energy, I find it a bit rich of the Labour party to criticise us. This is the party that said, in 1997, that there was no economic case for new nuclear power stations; the party that increased, rather than cut, our dependence on gas, which went from accounting for 32% of our electricity generation to 46% of it; and the party that failed to invest in renewables, which, over 10 years, have gone from accounting for 7% of our electricity generation to 43% of it. We will take no lessons from the Opposition on helping people with energy generation and with their bills.

[Rachael Maskell (York Central) (Lab/Co-op)]

11. What steps he is taking to support business and social business incubator and accelerator hubs.

[The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (George Freeman)]

Incubators and accelerators across the country play a vital role in helping our high-growth start-ups and scale- ups. That is why we continue to fund the strength in places fund, and are investing £100 million to pilot new innovation accelerators. That is also why, on my various tours around clusters, I recently went to the Leicester space and satellite hub, the Leeds digital health and medtech hub in the hon. Lady’s county, the Northumbria University and Ashington further education hub, and the BioYorkshire hub in her area.

[Rachael Maskell]

York’s economic future depends on releasing the talent of our entrepreneurs and social enterprises. To do that, we need to ensure that they have space to innovate and grow. In each of the last four quarters, however, we have seen the loss of 100,000 entrepreneurs, so what investment will be made to ensure that we have the infrastructure in place for the acceleration and incubation of the future business industry?

[George Freeman]

The hon. Lady makes an important point about social enterprises being mainstreamed in the business community. She may have seen the recent report by the all-party parliamentary group for social enterprise, of which I have long been a supporter, that argued that we should mainstream social enterprise in the BEIS policy framework, which is an interesting proposal. We have just announced the biggest increase in research and development and innovation funding—an increase of £25 billion over the next three years. I have asked UK Research and Innovation to focus on that incubation hub infrastructure around the country, so that we can continue to support the university and small business networks that create the opportunities for tomorrow.