Oral Answers to Questions

Robert Courts Excerpts

Wednesday 15th March 2023 Commons Chamber

[Julia Lopez]

I confess that cryptocurrency is not in my portfolio, but I am happy to refer the hon. Lady to a Minister who may be able to answer that.

[Robert Courts (Witney) (Con)]

4. What steps her Department is taking to support the research and development sector.

[Tim Loughton (East Worthing and Shoreham) (Con)]

9. What steps her Department is taking to support the research and development sector.

[Robert Courts]

The threat posed by the collapse of Silicon Valley Bank posed a huge challenge to science and tech businesses in Oxfordshire. Can the Minister update the House on what she has been doing to help those companies, so that they no longer have to look into the abyss?

[Michelle Donelan]

My hon. Friend is absolutely right that the futures of so many companies, and thousands of UK jobs, were at stake. My Department worked tirelessly with the Treasury to facilitate a solution. In doing so, we have protected our life sciences and tech sectors, which not only drive economic growth across the country but deliver life-saving products.