Oral Answers to Questions

Sarah Smith Excerpts

Tuesday 4th November 2025 Commons Chamber

[Rachel Reeves]

We are increasing spending on research and development in real terms and in every year of this Parliament, for exactly the reasons that the hon. Gentleman mentions. But we are doing more than that: we are supporting start-up and scale-up businesses through our pensions reform, through the British Business Bank and through UK Export Finance. We are absolutely determined to ensure that the money that goes into R&D in this country turns into great businesses that stay in this country.

[Sarah Smith (Hyndburn) (Lab)]

Will the Chancellor join me in congratulating the great work of Red Hat, a catapult based in Hyndburn that has supported the safeguarding of over 300 jobs and the development of 46 new products? Will she meet me to consider the role of catapults in supporting economic growth in places such as Hyndburn?

[Rachel Reeves]

Catapults have been a big success in driving economic activity, especially in manufacturing and engineering, which are prevalent in all parts of the country, including in my hon. Friend’s constituency. It was a pleasure to visit Hyndburn with her last year. I look forward to having the opportunity to do so again.