Stephen Hammond
Main Page: Stephen Hammond (Conservative - Wimbledon)
Mr Willetts
I have visited the company to which my hon. Friend refers, and he mentions an excellent British technology that is securing a lot of private backing. The future of space travel rests much more with commercial businesses now, but I look forward to the day when Major Tim Peake, the British astronaut, makes it into space; I regularly raise the issue of that programme with the head of the European Space Agency.
Stephen Hammond (Wimbledon) (Con)
Would the Minister expand on how the UK might increase its participation in the European space business development plans?
Mr Willetts
We have specifically identified the space sector in the growth review, and we are committed to a major role for British business in that. Indeed, only last week we celebrated a £110 million satellite order.
Vince Cable
I am sure that Lord Heseltine, Sir Ian Wrigglesworth and their team will hear my hon. Friend’s advocacy on behalf of one of the 500 projects. It sounds a very good one, and I look forward to seeing it in the pipeline.
Stephen Hammond (Wimbledon) (Con)
T1. If he will make a statement on his departmental responsibilities.
The Minister of State, Department for Business, Innovation and Skills (Mr Mark Prisk)
The Department is responsible for reducing regulation, increasing trade, growing the economy and promoting excellence in higher education and skills.
Stephen Hammond (Wimbledon) (Con)
With regard to deregulation, the Minister will have seen the report from the CEOs conference held by The Times, which suggests that an unencumbered supply side is key to growth. One of the key recommendations was moving to faster deregulation—far from one in, one out, it hoped for five out and only one in. Can he make any statement on that?
Mr Prisk
I am always keen to accelerate matters, but it is worth putting it on the record that in the past 12 months this Department alone has been able to scrap regulations that would have cost business £430 million every year. It is a good start, but, yes, we want to move forward.