Oral Answers to Questions

Debate between Vince Cable and Heidi Alexander

Thursday 12th February 2015 Commons Chamber

[Heidi Alexander (Lewisham East) (Lab)]

11. What recent assessment he has made of the contribution of the UK’s EU membership to businesses and the UK economy.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The European single market gives British firms access to 500 million consumers and, as our largest trading partner, is responsible for almost half of this country’s exports. A wide range of economic studies demonstrate the benefits to the UK economy from EU membership.

[Heidi Alexander]

It is my strongly held view that a UK exit from the European Union would be bad for British jobs, bad for British exports and bad for the British people. When did the Secretary of State last speak to the Prime Minister about the so-called negotiations with other European leaders about EU reform? Does he know what the deal-breaker is for the Prime Minister that would lead to the Prime Minister campaigning against our continued membership of the European Union?

[Vince Cable]

The Prime Minister and I discuss this frequently, and we agree that there needs to be significant reforms and improvements in the European single market, particularly moving on to a digital single market. The hon. Lady is quite right to say that our exit would be massively disruptive, and a lot of actual and potential foreign investors in this country are making it absolutely clear that they are alarmed by that possibility, should there be a change of Government.

Oral Answers to Questions

Debate between Vince Cable and Heidi Alexander

Thursday 8th January 2015 Commons Chamber

[Heidi Alexander (Lewisham East) (Lab)]

T1. If he will make a statement on his departmental responsibilities.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

My Department plays a key role in supporting the rebalancing of the economy through business to deliver growth, while increasing skills and learning.

[Heidi Alexander]

May I press the Minister further on the question of apprenticeships? Not only did the pay survey expose some concerning trends, it also showed that one in five apprentices do not actually receive any training. Given that most people’s idea of an apprenticeship is a placement that combines on-the-job work experience and a specific training programme, I find that deeply concerning. What percentage of the Government’s apprenticeships are not really apprenticeships at all?

Oral Answers to Questions

Debate between Vince Cable and Heidi Alexander

Thursday 20th November 2014 Commons Chamber

[Heidi Alexander (Lewisham East) (Lab)]

3. What estimate he has made of the contribution net trade will make to GDP over the next four years.

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

In March, the Office for Budget Responsibility expected net trade to make a roughly neutral contribution to growth until 2018. However, since GDP data methodology has recently been revised we will not have a fully updated view until December, with the OBR’s new forecast.

[Heidi Alexander]

Recent statistics from the Office for National Statistics show that the UK’s trade deficit has risen to £2.8 billion in September, up from £1.8 billion in the previous month. In the light of that, will the Secretary of State confirm that since the Government’s direct loan facility was launched a year ago to help businesses to export, only one firm has benefited from such support since it was announced?

[Vince Cable]

The hon. Lady is horribly out of date; dozens of companies are now benefiting from that new suite of credit facilities, which is one of a range of activities we are putting in place to support British exporters. When we entered office, about 27,000 companies were helped by UK Trade & Investment, but that is now up to 50,000, and the impact is already being felt in the big emerging markets, such as China and India, where there is very rapid export growth.

--- Later in debate ---

[Heidi Alexander (Lewisham East) (Lab)]

In response to my earlier question, the Secretary of State boasted that a number of firms were already benefiting from the Government’s direct lending facility. Will he name the firms, in addition to Carillion, that have benefited to date?

[Vince Cable]

I cannot name the firms, but I am happy to write to the hon. Lady with the names. UK Export Finance, which she asked about, is now providing a substantial range of export finance facilities, which were not available before and are contributing substantially to export growth.

Oral Answers to Questions

Debate between Vince Cable and Heidi Alexander

Thursday 10th April 2014 Commons Chamber

[The Secretary of State for Business, Innovation and Skills (Vince Cable)]

The Government support a living wage and encourage businesses to pay it when it is affordable and not at the expense of jobs. We recognise that these have been challenging times and we applaud companies that have chosen to pay higher wages.

[Heidi Alexander]

The UK’s largest supermarkets, Tesco, Sainsbury’s, Asda and Morrisons, together make billions of pounds in profits every year, but they still do not pay all their staff a living wage. Will the Secretary of State look at amending the corporate governance code to require all publicly listed companies to report annually the number of individuals they employ who earn less than a living wage?

[Vince Cable]

That is an interesting suggestion for nudging companies in the right direction, and I will certainly have a look at it. I am certainly very opposed to coercive measures because those would simply add to unemployment, but I will reflect on that suggestion, which is a new one.

Oral Answers to Questions

Debate between Vince Cable and Heidi Alexander

Thursday 23rd January 2014 Commons Chamber

[Vince Cable]

My right hon. Friend reflects the thinking that framed the advice I gave to the Low Pay Commission. Indeed, such thinking is not merely attractive in that it gives an incentive for people to work and improve their earnings, but it has positive implications for public finances.

[Heidi Alexander (Lewisham East) (Lab)]

The Government would have us believe that they are now great supporters of the national minimum wage, yet we know that many sitting on the Government Benches today voted against it in 1997. If the national minimum wage is so important to the coalition, why have the Government allowed its value to fall by 5% since the election?

[Vince Cable]

The real value of the minimum wage started to fall under my predecessors in the wake of the financial crisis, and on each occasion, I, like my Labour predecessor, have followed the advice of the Low Pay Commission. The levels that have been set reflect that independent advice.

Oral Answers to Questions

Debate between Vince Cable and Heidi Alexander

Thursday 14th July 2011 Commons Chamber

[Vince Cable]

I am well aware—I am tempted to say painfully aware—of the volume of representations coming from Edinburgh and elsewhere on this subject. They make a very good case for themselves, but will ultimately have to be judged against a variety of criteria relating to how the mission of the green investment bank will be advanced and the talent pool available.

[Heidi Alexander (Lewisham East) (Lab)]

Will the acting skills Minister tell me whether we will definitely be able to see the equality impact assessment of the Government’s proposed changes to ESOL—English for speakers of other languages—next week? It has been promised to me twice, but we have still not seen it.

[Vince Cable]

Yes, I have indeed seen the equality impact assessment; it will be released very soon.

Higher Education and Student Finance

Debate between Vince Cable and Heidi Alexander

Tuesday 12th October 2010 Commons Chamber

[Vince Cable]

Yes, indeed, and that is a very important consideration. Of course we want women to have equality. The gender gap has got to be closed, and the issue of taking time out is an important part of that. Of course, during the period that women—or men, in certain circumstances—take out of the labour force to care for their families, the real interest rate would not accrue.

[Heidi Alexander (Lewisham East) (Lab)]

Like the Secretary of State, I was the first person in my family to go to university. The key thing is that I am not sure that I would have gone if I faced the debt that is likely if the general thrust of Lord Browne’s report is followed, as the Secretary of State said it would be. What reassurance can he give young people from backgrounds like mine that they will not be unfairly disadvantaged by the reluctance of his Government to invest properly in higher education?

[Vince Cable]

The Government are going to invest in higher education. It will be properly funded as a result of this package. I make the point to the hon. Lady again—I made it in my statement—that the average university graduate earns cumulatively over a lifetime well over £100,000 more than someone who chooses not to go to university. That is a substantial graduate premium. We need to communicate to many people in disadvantaged communities that it is in their interests to pursue higher education. We will make sure through the careers service, a proper system of advice and the support that we give in maintenance that they have that opportunity.