Oral Answers to Questions

Debate between Vince Cable and Andrew Miller

Thursday 11th September 2014 Commons Chamber

[Vince Cable]

As it happens, I met the chief executive of RBS a couple of days ago. It is making good progress on sorting out the problems with its balance sheet and returning to normal business lending. I have been pointing out for quite a long time that the position of RBS in an independent Scotland would be very difficult, since its balance sheet is 10 times the size of the Scottish economy. It could hardly operate within Scotland as an independent country.

[Andrew Miller (Ellesmere Port and Neston) (Lab)]

Under the seventh framework programme, our universities were incredibly successful at accessing money, but our SMEs were not. Under Horizon 2020—the next programme —what steps will Her Majesty’s Government take to improve the lot of SMEs? Secondly, will the Secretary of State confirm that universities such as Edinburgh, which were hugely successful under framework 7, will not be successful if the vote goes the wrong way next week?

[Vince Cable]

On the hon. Gentleman’s latter point, he is right that Scottish institutions benefit disproportionately from UK research because of the excellence of their work and that they would no longer be guaranteed access to UK funding streams in an independent Scotland, although I hope they would maintain their excellence. We will certainly try to ensure that SMEs are taken properly into account in the competition for European funding. His point is a good one.

AstraZeneca (Pfizer Bid)

Debate between Vince Cable and Andrew Miller

Tuesday 6th May 2014 Commons Chamber

[Vince Cable]

I acknowledge the strong representation the hon. Gentleman has made to me before today, and that of my hon. Friend the Member for Cheadle (Mark Hunter) on the exact same issue. I will quote again from Pfizer’s letter to the Prime Minister, with all the provisos and conditions I suggested before. It says:

“Pfizer will actively look to locate manufacturing operations of the combined company in the UK, subject to the timing of the UK Patent Box proposals, and will retain substantial commercial manufacturing facilities in Macclesfield.”

[Andrew Miller (Ellesmere Port and Neston) (Lab)]

I will not say anything to prejudge the inquiries the Science and Technology Committee intends to make on this matter, but may I tell the Secretary of State that that quote from the letter to the Prime Minister differs from what the chairman said to me over the telephone? I do not doubt the Secretary of State’s word, but the situation is moving very fast and we need to recognise that. In the light of that, does he agree with me and the noble Lord Heseltine that he ought to apply a national interest test?

[Vince Cable]

I have tried to answer that question already. There is a public interest test. The hon. Gentleman uses the phrase “national interest test,” but the Opposition spokesman, the hon. Member for Streatham (Mr Umunna), was quite right to stress in his introduction that this is not a nationalism issue. I think we are all agreed on that. There are some excellent overseas companies in this country, such as Tata, Nissan and BMW, and they make a massive contribution. It is not an issue of nationality. Of course, both the companies under discussion are international companies in their different ways.

On applying the test, there is a question about whether it would be desirable to extend a public interest test in that way. My predecessor made it very clear in his comments to the Business, Innovation and Skills Committee that he rejected it on principle. I am not doing that, but it is worth recalling the practical problems involved, as set out by the hon. Member for Wrexham (Ian Lucas) when he held the key post in the Department. He said that

“it would need clearance by the European Commission. They would have to be satisfied that the consideration was legitimate and compatible with the objectives of the European Treaty, in particular in relation to the free movement of capital.”

We have to bear that in mind.

Industrial Strategy

Debate between Vince Cable and Andrew Miller

Monday 10th September 2012 Commons Chamber

[Vince Cable]

A lot of those projects are starting. As the hon. Gentleman well knows, infrastructure development needs to be properly planned and permissions need to be sought. The Government are anxious that these projects and infrastructure in general should now move ahead very rapidly.

[Andrew Miller (Ellesmere Port and Neston) (Lab)]

The Secretary of State will be aware that part of his statement lies right at the heart of the current inquiry by the Science and Technology Committee on bridging the “Valley of Death”. Many witnesses told us that the Technology Strategy Board needs to be expanded, and I am sure that the Secretary of State agrees with them, but does he also agree that that should not be done at the expense of investment in the research councils?

[Vince Cable]

No, indeed it should not. I was in Swindon last week talking to the research councils, whose role is entirely complementary to the TSB. They deal with an early stage of innovation. What they do is often highly relevant to British business, but it happens at an earlier stage of development than the work of the TSB. They are complementary bodies and their funding arrangements reflect that.

Oral Answers to Questions

Debate between Vince Cable and Andrew Miller

Thursday 13th January 2011 Commons Chamber

[Vince Cable]

My right hon. Friend is absolutely right; many companies are in that position. He will be aware that the banking taskforce recently produced a whole set of remedies for companies such as the one that he described, which have had bad experiences with banks and wish to pursue an appeal.

[Andrew Miller (Ellesmere Port and Neston) (Lab)]

The Secretary of State will realise that we now have a good opportunity to strengthen the supply chain in the automotive sector. However, unless he comes out with a clearer policy position on longer-term finance for medium-sized businesses, that will not happen. What is he going to do to strengthen the supply of finance?

[Vince Cable]

I am aware of the importance of the automobile industry in the hon. Gentleman’s constituency, where I have seen the excellent Vauxhall operation. Specifically, we are working through the Automotive Council, of which I think he is aware, and with which all the leading manufacturers in the UK are associated. One of its earliest decisions was on deepening the British supply chain, and several companies have already reported that that process is happening in a positive way.

Higher Education and Student Finance

Debate between Vince Cable and Andrew Miller

Tuesday 12th October 2010 Commons Chamber

[Vince Cable]

Yes, absolutely, and that message fits in with the broader direction of Government policy on education. The simple truth is that very large numbers of people are being failed by the school system at present. They have to find a second chance, for example in further education colleges. That direction of policy—particularly with the idea of the pupil premium, which will help people through the school system—is very much part of our thinking, and we intend to carry that philosophy into the university sector.

[Andrew Miller (Ellesmere Port and Neston) (Lab)]

The Secretary of State emphasises the importance of STEM subjects. What with today’s report, the propositions that are starting to emerge in relation to the comprehensive spending review, and the impact of changes to overseas student rules, does he not see that he is leading us headlong towards massive cuts in STEM provision? Which departments does he want to see closed, and which does he want to keep open?

[Vince Cable]

I certainly do not want to see that outcome; we want to see the exact opposite. We want more investment in STEM subjects. The hon. Gentleman will know that a level of, say, £7,000 would not cover the full costs of many STEM courses, and the Government will continue to support them through the teaching grant.

Industry (Government Support)

Debate between Vince Cable and Andrew Miller

Wednesday 16th June 2010 Commons Chamber

[Vince Cable]

That was not part of this exercise. The A400M is clearly a very important project, and we are looking at it using the same kind of criteria—value for money, affordability—and decisions will be made on that, but it was not part of this review.

[Andrew Miller (Ellesmere Port and Neston) (Lab)]

I, too, have received the news from General Motors that it might choose not to proceed, because of the current situation. However, if GM is to succeed as a business—as the Prime Minister said he wanted it to—it is important that we should have confirmation from the Government here and now that they will be ready to come back to the table and talk to the company, especially in relation to the next-generation vehicles such as the Ampera.

[Vince Cable]

Of course we are happy to talk to the company any time, and my door is open, but if the hon. Gentleman is saying “Can we have more money?”—

[Andrew Miller]

I did not say that.

[Vince Cable]

Well, the hon. Gentleman said that he wanted to support a new-generation project—

[Andrew Miller]

Oh, come on!

[Vince Cable]

The hon. Gentleman is showing some indignation. I am so used to hon. Members asking for more money, and I am sorry if I have underestimated him—[Interruption.] Okay, if it is simply a question of encouraging a valuable new project, I would be delighted to do that, and I hope that he will arrange an appointment.

[Andrew Miller]

The company is to make a statement in three quarters of an hour. Will the Secretary of State retain his current position and confirm that, should General Motors want that loan guarantee, it will remain open to the company to pursue it?