Oral Answers to Questions

Seema Malhotra Excerpts

Tuesday 7th June 2016 Commons Chamber

[Mr Osborne]

I am happy to take a close look at my hon. Friend’s proposal—I know what a rural constituency he represents. We have piloted support in north Yorkshire for rural businesses and their broadband links, and as announced in the Queen’s Speech, we are considering using the digital economy Bill to make broadband a universal service obligation, because we know what a transformative effect it can have on the rural economy.

[Seema Malhotra (Feltham and Heston) (Lab/Co-op)]

The Chancellor talks about supporting business, and like Labour I am sure he will want to see long-term sustainable business growth in Britain. After his six years at the helm, what is the forecast for business investment growth this year?

[Mr Osborne]

According to the forecast from the Office for Budget Responsibility, business growth this year and in the years ahead will be positive, whereas it was negative when I became Chancellor, so things are improving.

[Seema Malhotra]

The OBR has revised down business investment growth by a huge 4.9% since November, even after taking into account the fiscal measures the Chancellor has introduced, and we know that growth could fall further if we leave the EU. The acting head of the British Chambers of Commerce recently highlighted frustration among businesses over infrastructure projects, the huge skills gap, childcare, housing and the uncertainty around the apprenticeship levy. It almost sounds like gruel today without the jam tomorrow. Does the Chancellor agree with him?

[Mr Osborne]

Where was Labour’s apprenticeship levy—before they complain about what we are doing? If Labour wants to contribute to this important debate about how we make our economy more productive, we will need a better contribution. The hon. Lady’s Parliamentary Private Secretary has been in an email exchange with the hon. Member for Bishop Auckland (Helen Goodman) in which the latter complained about these questions at Treasury Questions, saying that the brief she had just been sent was a disgrace and demonstrated that the Labour Treasury team—