Economy: Business Investment
Debate between Viscount Younger of Leckie and Lord Tebbit
Viscount Younger of Leckie
I am not sure that I agree with the noble Lord on that. What matters is the decisive action that the Government are taking to protect the economy in this period of global uncertainty. Our economic policy objective overall is to achieve strong, sustainable and balanced growth that is more evenly shared across the country and between industries, and that has a focus on property, too. We want to create the most competitive tax system in the G20, make the UK the best place in Europe to start, finance and grow a business, and create a more educated workforce that is the most flexible in Europe.
Lord Tebbit (Con)
Can my noble friend perhaps have a chat with the noble Lord, Lord Kinnock, to see whether he can help us by pleading with his masters in Brussels to allow us to get on with investing in a nuclear energy programme? That would be really helpful. I see that the noble Lord, Lord Kinnock, shakes his head—he cannot do it.
Viscount Younger of Leckie
I am always happy to have a chat with the noble Lord, Lord Kinnock, and perhaps that will happen.
Trade: Import Substitution
Debate between Viscount Younger of Leckie and Lord Tebbit
Viscount Younger of Leckie
The decisions that we are taking, particularly in the light of today’s Budget, will lead to a better climate and to more jobs being created and greater security in that sector.
Lord Tebbit (Con)
My Lords, is it not true that the European Union’s policies on increasing the cost of energy and, of course, widening fuel poverty are also driving chemical engineering firms out of Europe and out of Britain and will cause a grave loss of jobs? Can we not just tell them that we do not wish those policies to apply here?
Viscount Younger of Leckie
My Lords, I have already given my views on Europe. In terms of energy, as the House will be aware, we are continuing to develop some energy-friendly policies, particularly focusing on the automotive sector.
Living Wage
Debate between Viscount Younger of Leckie and Lord Tebbit
Viscount Younger of Leckie
I certainly share that wish and the mayor has made his views clear. I said earlier that I also applaud what companies are doing, provided that they can afford it. But to help households manage the costs of their bills—I have said already that I recognise that there is a squeeze on them—this Government have already frozen council tax and cancelled the rise in the fuel duty escalator. We are encouraging competition and that consumers switch to get the best deals. Moreover, advice is available from citizens advice bureaux and the Money Advice Service.
Lord Tebbit (Con)
My Lords, does my noble friend accept that the first priority of a business is to stay profitable and in business if it is to employ anyone at all? It would be a bit odd if the wages paid to a worker were based not on his value to the business, but on his various commitments and obligations. Surely that cannot be right.
Viscount Younger of Leckie
It is certainly true that businesses, particularly small and medium-sized ones, need to decide whether they should increase pay from the national minimum wage to the living wage, but it is very much up to them. Certainly there has been quite a lot of negative media coverage about the Labour Party’s policy, in that small and medium-sized businesses felt that they would not be able to take more people on if they decided to increase pay from the minimum wage to the living wage.
Supermarkets: Pricing
Debate between Viscount Younger of Leckie and Lord Tebbit
Viscount Younger of Leckie
I have no intention of apologising but I have recognised that there is a bite on household expenditure. I point out to the noble Baroness that the biggest drivers of UK food price inflation are global commodity prices, exchange rates and oil prices. As regards energy pricing, the Energy Bill, which is being led by the Department of Energy and Climate Change, will ensure that all households get the best deal for their gas and electricity by giving legislative backing to Ofgem’s retail market review.
Lord Tebbit (Con)
My Lords, in view of the crisis in the cost of government, would my noble friend consider getting together a group of senior retailers who would be asked to look at manifestos before an election, price up the promises and make sure that we know the unit price of government as proposed between the various parties?
Viscount Younger of Leckie
My noble friend makes an interesting point and it is firmly noted.
Television: Listed Sporting Events
Debate between Viscount Younger of Leckie and Lord Tebbit
Viscount Younger of Leckie
My noble friend makes a valid point, but I should say that the sale of sports rights is a commercial matter between the broadcasters and the rights owners, and the Government do not intervene in this process.
Lord Tebbit
Does my noble friend not agree that the intellectual property, if one might call it that, of a test match, hockey match or any other match belongs to those who have organised it and are playing that game, and it should not be the business of the Government to seek some means of lowering the income to those people by pushing and shoving them on to a free-to-air channel? After all, we do not do that with films, do we? We do not say that the film maker must give his film free to the local cinemas. Why should those who play football or cricket be pushed around in that manner?
Viscount Younger of Leckie
I do not think that the noble Lord is right about people being pushed around. However, this is not particularly an issue for government but more an issue between sporting rights-holders and the broadcasters themselves.