Queen's Speech — Debate (5th Day)

Part of the debate – in the House of Lords at 4:44 pm on 16th May 2012.

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Photo of Lord Bilimoria Lord Bilimoria Crossbench 4:44 pm, 16th May 2012

I could not agree more with the noble Lord. All I am saying is that, if we had more incentives for manufacturing, we would have even more such success stories. In fact, Britain has so much going for it. We have the finest universities, the best in design and creative industries, tourism, sport, advanced engineering, the City and our financial markets, the accounting profession, the law profession, and we have our wonderful monarchy and Her Majesty celebrating the Diamond Jubilee this year. We need to harness these amazing assets and use them to generate growth. We need infrastructure spending to create the environment for business to succeed. However, businesses are not getting the money. Will the Minister tell us what is happening with the £20 billion credit-easing scheme? I do not think that it is flowing through.

I conclude: more than anything else, the Government need to show real leadership, not to create fear through austerity or accuse business leaders of whinging and not working hard enough. They need to create hope and optimism-hope, not hopelessness. We have so many strengths in this country; they just need to be unleashed. We need to unleash the great British spirit-the spirit of Great Britain-and unleash hope, optimism, opportunity and aspiration.