Oral Answers to Questions

Seema Malhotra Excerpts

Tuesday 7th June 2022 Commons Chamber

[Lee Rowley]

I absolutely agree with my hon. Friend that his constituency has a very important role to play in the future of life sciences, and I commend his work on that strategically important sector. He mentioned the life sciences memorandum of understanding that we signed with Sweden last week. Our relationship with Sweden goes back more than three centuries and is worth £20 billion, and there are 100 Swedish life science companies in the UK. That is another example of close working across the globe on progress for everyone’s benefit.

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

The Centre for Policy Studies is not alone in having just published damning research from business leaders. It states that Britain is becoming a less attractive place to invest; the UK is slipping behind other countries because of red tape, rising taxes and ministerial complacency. Could it be because we have a chaotic, rudderless, high-tax Conservative Government, with no industrial strategy and no plan for growth? Is it not time that the Secretary of State listened to businesses, tackled rising business costs and backed calls to spike the national insurance hike? He should know that it is the wrong tax at the wrong time.

[Lee Rowley]

That is a curious line of questioning from the Opposition Front-Bench team, given that Nissan has made £1 billion of investment in recent months in Sunderland, Stellantis has made an investment of more than £100 million in Vauxhall at Ellesmere Port, and there is additional investment in green technology and life sciences—the list goes on and on. Of course there is more to do, and of course as a listening Government we will always look at what more we can do to make us the most attractive place to invest in the G7 and across the world. We have a good track record that we will continue to build on.