(9 years, 9 months ago)
Commons Chamber11. I may be wrong, but I believe I glimpsed the Minister in my constituency—on a mini-digger and endangering a cabinet that was about to be upgraded. While he was there, did he get any information about the timeliness of the roll-out of broadband in Wales, given that the Government have contributed £57 million to the project?
(9 years, 11 months ago)
Commons ChamberMy hon. Friend has raised that issue before and I know she feels passionately about it. She will know that tax is an issue for the Treasury, and we have ongoing discussions with the Treasury on a number of issues. I am sure she will join me in welcoming the fact that in 2013, because of the support the Government have provided to the sector, we saw record levels of tourism, and it looks as if 2014 will be another record year.
Tourism is particularly important in rural areas. What can we do to encourage VisitBritain to highlight the excellent hotels, holiday accommodation and visitor attractions in rural Wales, and indeed the entire west of England, to make it a tourist destination for people coming from abroad?
My hon. Friend is right to say that tourism is vital for local economies, and I have a big ambition to get more people out of the cities and visiting our fantastic countryside. He will be pleased to know that one week from today we will launch the Countryside is Great campaign in New York, with the fantastic Katherine Jenkins performing. That will help make clearer to international tourists exactly what our fantastic countryside has to offer, including in Wales.
(11 years, 9 months ago)
Commons ChamberI do not wish to be unkind to the hon. Gentleman, but he represents a Northamptonshire constituency: he does not feature in north-east Lincolnshire. He is close, but not quite close enough. I will give him a go later, if he is a patient fellow, as I am sure he will be.
12. What plans he has to implement a share scheme for Royal Mail employees.
Parliament decided two years ago that employees of Royal Mail should share in its success. It would be wrong to deny employees this any longer. They should be sharing in the company’s success and dividends, and it is our intention to have such a scheme in place at the time that we conduct a sale of Royal Mail.
I thank the Minister for that encouraging reply. The better financial performance of Royal Mail owes much to the loyalty of postmen and women getting the mail out to every address in the country, even in during these difficult weather conditions. Can the Minister give us a little more certainty about the timing of this scheme and how those loyal postmen and women will benefit?
It is our intention to conduct a sale during the forthcoming financial year, 2013-14, and I confirm that at the time of that sale we intend to make a share scheme available to the 130,000 employees of Royal Mail who, as my hon. Friend says, have worked so tirelessly to turn it into a successful and profitable business and should share in that success.
The compelling vision has been manifest in the industrial strategy. As the hon. Gentleman will have noted on Monday, the Chancellor and the Prime Minister are fully behind it, and are providing financial support to make that vision a reality.
Will the Secretary of State comment on the progress that has been made in Europe on the introduction of transparency to the extractive industries?
I strongly welcome the support that has been received from both industry and non-governmental organisations for the pursuit of increased transparency in those industries. Talks have been continuing in the European Union this week. We want to make strong EU rules that match the tough United States requirements. There should be no exemptions: listed extractive companies should publish information about all payments that they make to all Governments in all their countries of operation.
(12 years, 3 months ago)
Commons ChamberThe green investment bank is up and running properly. The parliamentary legislation is being put in place, and the hon. Lady has the opportunity to debate it. The team in my Department that is overseeing the bank has already disbursed significant amounts of money to energy conservation and waste projects. The bank is a success, and it will expand considerably over the next few years when it has achieved state aid approval.
Business investment in research and development is absolutely essential for growth, and yet UK business invests less in R and D than our international competitors. What can the Department for Business, Innovation and Skills do with the Treasury to encourage more investment in R and D in our businesses?
The hon. Gentleman is absolutely right about the importance of R and D. We are improving the tax reliefs available to businesses, and especially to small businesses, when they invest in R and D to encourage them to do so.
(12 years, 10 months ago)
Commons ChamberIn these difficult times, the food and drink sector is an example of success with year-on-year growth. I commend the report by the Department for Environment, Food and Rural Affairs and UK Trade and Investment entitled “Driving Export Growth in the Farming, Food and Drink Sector”, but trade barriers still exist. Will the Secretary of State ensure that such trade barriers are broken down so that this sector can go from strength to strength?
My colleague is right to stress the importance of the food sector, including food manufacturing. We often talk about advanced manufacturing, but some of the most sophisticated industries are often in those traditional product areas. He is right about the importance of opening barriers. In the European Union context, my team is actively pursuing trade liberalisation with a variety of Asian countries, the Mercosur countries and others. We hope that those agreements will be delivered soon.
(14 years, 2 months ago)
Commons Chamber16. What progress has been made towards reinstating an operating and financial review to ensure that directors’ social and environmental duties have to be covered in company reporting; and if he will make a statement.
The Department is currently consulting on the future of narrative reporting which addresses the coalition commitment to reinstate an operating and financial review. The consultation closes on 19 October and we will then consider the responses and take a view on how to take this commitment forward by the end of the year.
I thank the Minister for that reply and his active interest in this matter. I believe that this coalition Government will be the greenest Government ever, but we need to promote sustainable investment. The OFR will have a key role to play in that, especially in ensuring that the same standards apply for independent verification and financial reporting. Can the Minister assure me that the Government will support that?
This Government will be the greenest Government ever, and when my hon. Friend reads the consultation document he will see that we have some very interesting ideas about how to improve the way in which companies report on social and environmental matters. I hope that we will be able to drive up the quality of reporting and disclosures by companies in that area.