Asked by: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)
Question to the HM Treasury:
What discussions he has had with Cabinet colleagues on increasing productivity through the development and deployment of new technologies.
Answered by Andrew Jones
Treasury ministers regularly discuss the opportunities of new technologies with Cabinet colleagues.
To boost research into and development of new technologies, we have increased support for in R&D to the highest level in 30 years (probably ever) through raising investment and increasing the main rate of R&D tax credits.
At Budget, we committed over £75 million to support the development and deployment of Artificial Intelligence in the UK, which has immense potential to increase productivity.
Asked by: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with the Secretary of State for Education on the effect of public investment in skills on the number of young people taking up apprenticeships since 2010.
Answered by Andrew Jones
Treasury ministers have engaged on a regular basis with the Secretary of State for Education to monitor the Government’s public investment in skills, and the impact it has had on young people taking apprenticeships. We will have doubled spending on apprenticeships in the decade to 2020, which will allow us to achieve 3m apprenticeship starts in England by 2020 and give people the best start to their careers. In 2015-16 56% of all apprenticeship starts came from those aged under 25.
Asked by: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether there is a vacancy for a Chief Scientific Advisor to the Treasury.
Answered by David Gauke
Following the departure of the previous Chief Scientific Adviser to the Treasury in November 2016, the Treasury expects to appoint a new Chief Scientific Adviser in due course.
Asked by: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of the National Living Wage on wage growth.
Answered by Damian Hinds - Minister of State (Education)
The National Living Wage will mean a full-time minimum wage worker benefiting from the policy will earn over £4,800 more by 2020 in cash terms, a 40% rise on their current wage. Additionally, due to the ripple effect, up to a quarter of workers will see some benefit. The OBR estimate that economy wide wages will be on average 0.4% percentage points higher in 2020 due to the NLW.