Oral Answers to Questions

Stuart C McDonald Excerpts

Tuesday 8th November 2016 Commons Chamber

[Carol Monaghan (Glasgow North West) (SNP)]

10. What steps his Department has taken to develop a long-term strategy for business growth since the UK’s decision to leave the EU.

[Stuart C. McDonald (Cumbernauld, Kilsyth and Kirkintilloch East) (SNP)]

11. What steps his Department has taken to develop a long-term strategy for business growth since the UK’s decision to leave the EU.

[The Secretary of State for Business, Energy and Industrial Strategy (Greg Clark)]

We are creating a business environment that supports growth and investment by cutting corporation tax, by investing in infrastructure, by expanding our world-beating science, research and innovation activities, by increasing the number of apprenticeships, and by devolving power all across Britain. Our industrial strategy will build on these strengths, and we will work with industry, local leaders, investors, workers and consumers to build the conditions for future success.

[Greg Clark]

It is important that we attract the world’s brightest and best students to our fantastic universities, and all of us in the Government have a commitment to that. We have visa arrangements in place so that people can work in graduate jobs after that, and it is important that they should be able to do so.

[Stuart C. McDonald]

Up to 100,000 jobs across the UK will be at risk if Brexit causes London to lose euro-denominated clearing business. The loss of that clearing business will also mean the loss of much of the financial markets’ infrastructure. What urgent action are the Government taking to stave off these dangers?