Since we last met, I have been delighted to be in Bristol, a hub of brilliant technological innovation, to launch the aerospace sector deal with a commitment from business and Government to invest a quarter of a billion pounds in the aircraft of the future. I announced a life sciences sector deal, featuring £1 billion of industry investment from the global biopharmaceutical company UCB. My right hon. Friend the Minister for Energy and Clean Growth has been in Katowice representing the UK at COP 24. At home, we published our Good Work Plan, and, just last week, the energy price cap came into effect, ensuring that all customers get a fair deal.
A meeting of stakeholders was recently held in Pollokshields in my constituency to discuss the problems of fireworks in the community, as they really cause local residents a huge amount of distress. The Minister wrote to me last year saying that a meeting would be set up with me and other MPs to discuss the matter further. Will he give me more information as to what progress has been made to set up the meeting, as my constituents do not want to be forgotten about?
The hon. Lady is quite right that the issue is a matter of concern not just in her constituency, but in others. I will ensure that the meeting happens in the next two weeks.
T3. The Financial Reporting Council identified six areas that warrant further inquiry in PwC’s administration of Premier Motor Auctions, but delegated that inquiry to the Institute of Chartered Accountants in England and Wales—a trade body with limited powers. Will the Minister agree to meet me to ensure that this and any other insolvency practitioner issues are properly investigated?
It is right that the FRC refers any concerns it has relating to the insolvency case to the ICAEW, which is a recognised professional body that regulates insolvency practitioners. In this case, I understand that the ICAEW has considered the issues put forward and is investigating a number of matters. I will happily meet my hon. Friend to discuss this issue again, as I already have. It is right that we investigate any concerns that British businesses have about the regulations.
T2. Fracking activities in Lancashire have recently had to be suspended because earth tremors triggered the traffic lights system. As a result, the Minister has said that she is now looking at whether that system should be relaxed. Will she tell us what she is thinking, and will she give us an assurance that there will be full consultation with all stakeholders before any change is made, and that the matter will be brought back to this House for the approval of Members?
I think I have answered a similar question before, although not from the hon. Gentleman. I have absolutely no plans to change the traffic lights system. The current fracking proposals being tested in Lancashire right now were developed with that system. The fact is that that system is working and being triggered even by micro-tremors; the hon. Gentleman will know that we have had some great evidence from the University of Liverpool as to how small the tremors actually are. If we are to take forward what could be a very valuable industry, it is only right that we do so with the toughest environmental regulations in the world, so I say again that there are no plans from the Government to change the traffic lights system.
T4. With the high street undergoing a period of significant upheaval, will the Secretary of State confirm that he is working closely with the Chancellor and the Secretary of State for Housing, Communities and Local Government to ensure that high street businesses are able to compete on a level taxation playing field with their online competitors?
We continue to work closely with the Treasury and the Ministry of Housing, Communities and Local Government to ensure that the needs of high street retailers are understood. In the 2018 Budget we announced a reduction in business rates worth £900 million over two years for small businesses. The digital services tax, a 2% tax on revenues specific to digital businesses, will ensure that they pay tax reflecting the value that they derive from UK users. We have also established the Retail Sector Council, which has now decided on its future work programme, as part of which business costs and taxation are one topic being considered.
Laura Pidcock (North West Durham) (Lab)
New research from the TUC shows that household debt is at its highest ever level, with average debt per household now at over £15,000. It is blatantly obvious that the cause is years of austerity and wage stagnation. Millions of workers are now reliant on borrowing, making up for low wages by increasing their debt—not for holiday or luxuries, but through using credit cards for everyday essential such as nappies and food. That is so stressful. Will the Minister please explain what the Government are doing to address this crisis, and why Conservative Members refuse to join the Labour party in advocating a real minimum wage of at least £10 an hour and a return to serious collective bargaining for workers in the UK?
I heard the news reports of this particular analysis, but I also heard that the analysis had been entirely discredited because it included student debt, which does not accrue to every household. If we were to strip that out, the rate of accrual—[Interruption.] Would the hon. Lady like to listen, rather than chunter? I will carry on. If we strip out student debt, which does not accrue to every household, we see that the growth of consumer credit has actually slowed. Once again, I am proud to stand here and represent the Government who finally did what the hon. Lady’s Government had 13 years and did not do—introduce a national minimum wage and ensure that it goes up well ahead of inflation. [Interruption.] A living wage.
I call Will Quince. [Interruption.] I am sure that the hon. Gentleman is delighted to have excited such a reaction, but I would like to hear what he has to say.
T6. Thank you, Mr Speaker. Will my right hon. Friend join me in welcoming the £900 million cut in business rates announced at the most recent Budget, which will benefit thousands of small businesses up and down our country, including in Colchester?
I am delighted to join my hon. Friend in welcoming this recent measure, which has benefited small businesses so well. We have cut corporation tax to 19%. As a result of cuts made by this Government since 2017 through the small business rate relief, over 655,000 small businesses—the occupiers of a third of all business properties—pay no rates at all.
T5. I am sure Ministers understand that the new Euro 6 diesel engines are considerably more efficient and cleaner, and that encouraging uptake of diesel vehicles would be good for the environment, with both cleaner air and less carbon dioxide emissions. However, production of vehicles is down, partly because of the downturn in China and uncertainty over Brexit, but also because of the damaging, self-promoting anti-diesel campaign by the Secretary of State’s ministerial colleagues at the Departments for Transport and for Environment, Food and Rural Affairs. What is he going to do to get Government policy back on track in support of the British motor industry?
In the “Road to Zero” strategy document, it is very clear that diesel engines, especially the new generation, are a perfectly acceptable choice environmentally as well as economically. The right hon. Gentleman will know that diesel sales are falling across the whole of Europe, but we have been very clear in this country that it can play an important role in the transition to zero-emission vehicles.
T10. Following on from the previous question, maintaining an uninterrupted supply of components for just-in-time manufacturing and the ability to sell tariff-free into European markets, both of which are enabled by the Prime Minister’s deal, is vital to the continued success of the UK auto industry. Forty constituents of mine, all of whom work at Jaguar Land Rover, have reminded me of that through their emails. Will the Secretary of State welcome that approach?
I do indeed welcome the representation from my hon. Friend. The automotive sector is one of our most successful, and it is globally admired. Its success depends on having the just-in-time production that makes it so competitive. In my view, it is vital that we pose no threat to that in our new relationship with the European Union.