Oral Answers to Questions

Debate between Vince Cable and Baroness Beckett

Thursday 26th March 2015 Commons Chamber

[Vince Cable]

Perhaps I may preface my answer by reflecting on the fact that I think I have held this job, or its equivalent, for longer than anybody in 60 years, and I thank everybody in the House for their interest in the affairs of the Department for Business, Innovation and Skills over those five years. I thank you, Mr Speaker, for your impartial oversight of our proceedings, but I will stop short of wishing everybody well in the forthcoming election.

The hon. Member for Pendle (Andrew Stephenson) is right to say that the aerospace sector is booming, and I think his constituency contains the headquarters of the North West Aerospace Alliance. He is also right to say that despite its considerable successes, his constituency has lost 100 jobs out of the 1,000 at Rolls-Royce. We are supporting Rolls-Royce in many aspects of the industrial strategy, and in surrounding constituencies such as Burnley there is unalloyed success with Aircelle’s recent big investment supported by the regional growth fund.

[Margaret Beckett (Derby South) (Lab)]

As in Pendle so in Derby great concern followed the Government’s plans for aerospace engineering, following the announcement by Rolls-Royce last year that 800 skilled engineering jobs would be lost in the UK. When many of us, including the Minister, met the company to discuss forward plans in November, did the Government know that Rolls-Royce would be recruiting up to 500 skilled engineers in Bangalore, and does he share my concern for what that implies for the long-term future for skilled jobs in the UK?

[Vince Cable]

I have discussed Rolls-Royce’s long-term strategy with its chief executive on several occasions. We are well aware that it is a global company, and that to maintain its strength it invests internationally, including in India. It is also investing a great deal in the UK, and we work closely with it, not just in the aerospace sector. The talent retention scheme is ensuring that the vast majority of the unfortunate individuals who lost their jobs in the restructuring will be redeployed in high value jobs in the aerospace and related industries.