Directors’ Pay

Debate between Vince Cable and David Evennett

Wednesday 20th June 2012 Commons Chamber

[Vince Cable]

This change deals with public listed companies, not with private equity. There is a whole set of separate issues to consider about the regulation of private equity companies and about tax policy, but this change is about public listed companies.

[Mr David Evennett (Bexleyheath and Crayford) (Con)]

I welcome my right hon. Friend’s taking a reasonable approach on directors’ pay following consultation with business and investors. Does he believe that more power for shareholders and greater transparency will encourage more people to participate in companies’ meetings, get involved and buy company shares? That is surely what we all want—more shareholders and more involvement.

[Vince Cable]

That is absolutely right, and I congratulate shareholders who have become actively engaged in issues of pay policy for the first time in many years. I think one reason why they have been active is that they knew legislation to cement their position was coming.

Enterprise and Regulatory Reform Bill

Debate between Vince Cable and David Evennett

Monday 11th June 2012 Commons Chamber

[Mr David Evennett (Bexleyheath and Crayford) (Con)]

I congratulate my right hon. Friend on his introductory comments on this important Bill. Government Members strongly believe in business, and we do not want to hold it back. On the other hand, we want regulation that is necessary to protect the work force, and we want to help them. We need a change in the law to help businesses grow and flourish.

[Vince Cable]

My hon. Friend makes the point in a fair and balanced way, and he defines exactly what we are trying to achieve.

Business and the Economy

Debate between Vince Cable and David Evennett

Monday 14th May 2012 Commons Chamber

[Vince Cable]

No doubt there is uncertainty in Scotland because of the political situation there. I have been in Scotland supporting new inward investment. Scotland is participating in the substantial increase in investment that is taking place.

The policies required to sustain this growth of tradeable activities, such as manufacturing and creative industries, lie in aspects of economic policy that are not part of the Queen’s Speech, but they do provide the context to explain why the enterprise and regulatory reform Bill is at the heart of the forthcoming legislative programme.

[Mr David Evennett (Bexleyheath and Crayford) (Con)]

Does my right hon. Friend agree that to get growth we need successful businesses? Successful businesses need less red tape, regulation and bureaucracy, but also the Government’s apprenticeship scheme, which is making more well-trained young people available to meet the needs of those businesses.

[Vince Cable]

Yes, and this is one of the big success stories. I understand that since the Government came in, half a million apprentices have now been trained through this process, which is 63% growth in an area where we made a major commitment, even in the context of necessarily declining public expenditure.

My hon. Friend’s first point leads on to my comment on the reform Bill, which contains a wide-ranging package of measures to overhaul the competition framework to support dynamic markets, to scrap unnecessary bureaucracy that is holding back companies, and to boost business and consumer confidence.

Oral Answers to Questions

Debate between Vince Cable and David Evennett

Thursday 9th June 2011 Commons Chamber

[Vince Cable]

My colleague the Secretary of State for Health has made it absolutely clear that no resident, whether publicly funded or self-funding, will be left homeless or without care. In other words, the residents will be given priority and the Government have taken the responsibility to ensure that they are protected. As to the company itself, it had a long-standing failed business model. The Minister of State, my hon. Friend the Member for South Holland and The Deepings (Mr Hayes) has been in touch with the banks to ensure that the credit is properly managed in this critical period so that it happens in an orderly way. There is no way in which we can bail out the company, but I have asked my officials to look carefully at the business models of companies that provide public services to ensure that they are stable and that the responsible sector regulators are able to act appropriately.

[Mr David Evennett (Bexleyheath and Crayford) (Con)]

T10. Can my hon. Friend update the House on the agreement reached about Institute for Learning membership fees?

Higher Education and Student Finance

Debate between Vince Cable and David Evennett

Tuesday 12th October 2010 Commons Chamber

[Mr David Evennett (Bexleyheath and Crayford) (Con)]

I welcome the Secretary of State’s statement and commend the Browne report, which is a really constructive piece of work.

We need world-class teaching in our universities and we need world-class research in our universities, so reform must come, and we accept what the Secretary of State has said. Does he agree that the quality of student experience of teaching, tutorials and careers advice needs to be improved, and that we also need more innovative part-time courses?

[Vince Cable]

I very much agree; indeed, one of the incentives provided by this new system will be encouraging part-time courses, and therefore part-time learners, who have been discriminated against in the past. It will also bring pressure to bear on universities to improve their teaching performance, which is highly variable. In the university system, promotion tends to be earned through research rather than teaching quality. Universities will now have to attract students, so they will have to provide quality teaching throughout the system. That is one of the big advantages of the reforms we are undertaking.