We need your support to keep TheyWorkForYou running and make sure people across the UK can continue to hold their elected representatives to account.

Donate to our crowdfunder

Industrial Strategy

Part of Laser Misuse (Vehicles) Bill [Lords] (Programme) – in the House of Commons at 4:19 pm on 18th April 2018.

Alert me about debates like this

Photo of Rebecca Long-Bailey Rebecca Long-Bailey Shadow Secretary of State for Business, Energy and Industrial Strategy, Member, Labour Party National Executive Committee 4:19 pm, 18th April 2018

I thank the hon. Lady for her comments, which are rather illuminating. I wonder whether she could share with the House how her region managed to secure those additional resources, so that we could let our colleagues know about it. That simply does not seem to be the case right across Britain.

Now, there was also a clear failure in business support. The Government’s proposals recognised that we need both public and private investment. Similarly, the Labour party has pledged to mobilise £250 billion of lending through a national investment bank and a network of regional development banks. However, the Government’s proposals fall far short of that. I said in the House last year that sector deals, a £2.5 billion investment fund incubated in the British Business Bank and yet another review into encouraging SME growth were simply not good enough. There was a clear failure to recognise the impediments that many businesses face when attempting to access finance and, indeed, there was a failure to protect businesses more generally.