Stewart Hosie
Main Page: Stewart Hosie (Scottish National Party - Dundee East)(12 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text
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Vince Cable
Yes, I totally take that point. I thought the comments today were a little carping and negative and not terribly original, but I will continue to encourage the Opposition to be more constructive.
Stewart Hosie (Dundee East) (SNP)
The Secretary of State spoke about the supply chain, a sectoral approach, training, bank lending, a new bank and the importance of procurement. They are all important, but he said precious little about fiscal policy. He will remember that the industrial buildings allowance boosted manufacturing and tourism in the past. Indeed, the agricultural buildings allowance did the same in that sector. Does he see a role for such fiscal change to leverage private investment and grow capacity on the supply side?
Vince Cable
The Chancellor is doing a great deal of that. Indeed, he is trying to create an encouraging tax environment for business. Of course, what we have to do—and what he is doing—involves a trade-off between specific incentives and producing an over-complicated tax system, about which I know that the hon. Gentleman, with his detailed knowledge of the sector, would be the first to complain.