William Bain
Main Page: William Bain (Labour - Glasgow North East)Department Debates - View all William Bain's debates with the Department for Education
(12 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Willetts
We estimate that overseas students in higher education bring £8 billion to the British economy, which shows what a major export industry it is. We can be very proud of the success of our higher education sector, and that is why Britain has no limit on the number of suitably qualified overseas students who can come here to study.
Mr William Bain (Glasgow North East) (Lab)
T3. This morning the OECD predicted that the British economy will shrink by 0.7% this year. When will the Secretary of State get on and set up a proper British investment bank, and follow the example of institutions in Germany and Brazil that between them invested nearly £100 billion last year?
Vince Cable
The hon. Gentleman is being a little churlish in not even acknowledging that on Sunday, the Chancellor made it clear that we wished to proceed with a business bank. We are discussing the range of its activities and the resources that will be available. The hon. Gentleman knows well that growth prospects in all European countries are extremely depressed at the moment, not only in the UK.