(11 years, 3 months ago)
Commons ChamberThe irony is that I look forward to working with the hon. Gentleman to do what we can to do just that. He will know that the first thing that I did on taking this post was to ensure that Government funding was available on a commercial basis to tackle short-term cash shortages. We are now working on a proposition to go through the EU processes, which must, under the rules, come from the company. Whatever heat and light there is around this issue, I am working on those schemes. However, it must be done within the constraints of the EU state aid rules. I would be happy to work with the hon. Gentleman to do what we can to secure the future of the pits.
As a Member of this House who represents a coal mining community, the major conurbation of which is called Coalville, and whose grandfather was a coal miner, I am not surprised that the shadow Minister did not want to take my intervention. I witnessed the intimidation of miners who wanted to work in south Derbyshire, north-west Leicestershire and Nottinghamshire during the miners’ strike. I do not share the despondency of the shadow Minister. The latest figures show that my constituency of North West Leicestershire has the highest economic growth in the country at nearly 5% and that our unemployment rate is less than 2%.
I shall come on to how best to support communities that used to have a large coal mining presence. In Yorkshire, unemployment has fallen by 30% over the past four years, going by the claimant count. That demonstrates that having a long-term economic plan is the best way to help communities get through these difficult times.
The transition of an economy that was dominated by outdated heavy industry into a modern service-based economy was necessary, and it has formed the basis of the nation’s current prosperity. That is not much disputed these days.
Unemployment in the hon. Lady’s constituency has fallen by 30% since the election. Next time she gets up she should mention that, rather than shouting across the Dispatch Box. In south Staffordshire, unemployment has fallen by 58% since 2010. It has fallen by 51% in south Derbyshire, and as I said earlier, by 30% in Yorkshire. That goes to show the central truth that the best way to help coalfield communities now is to have a strong and healthy economy, and we cannot do that unless we have an economic plan.
Will the Minister also congratulate businesses in North West Leicestershire around Coalville, where unemployment has fallen by 60% since 2010?
I absolutely will. The long-term economic plan is clearly working for Coalville, as it is for south Staffordshire, Durham, Yorkshire and all over the country. [Interruption.] The more muttering I get from Opposition Members, the more I think we should repeat the fact that unemployment is falling in every region of the country.
(13 years, 4 months ago)
Commons ChamberIndeed, and over-compliance and the fear of technical breach bring the wider health and safety law into disrepute. All parties support that law. As has been acknowledged, it was introduced by a Conservative Government, and it has been vigorously supported by Labour Governments over the past century or so. However, it is undermined when the impression is given that the system is over-complicated, confusing and aimed at technical, rather than substantive, breaches.
I, too, was impressed with the genuine passion of Opposition Members who talked about health and safety, but I honestly believe that they missed one fundamental point. They seem to believe that there is no cost to over-compliance with regulations, but there is not only a cost to our economy and the Exchequer, which is important at the moment, but a cost borne by the long-term unemployed and the workless. They pay for over-compliance by not having access to the workplace, which vastly decreases their life expectancy. They are the people paying the price.
My hon. Friend makes the point with great power that those who are out of work pay for an uncompetitive economy. They are the people whom we need to support.
(15 years, 2 months ago)
Commons ChamberThat is a valid and important point. Central to that point is the judgment of people who look forward and have a broad view, looking after the health not only of the banking system, but of the macro-economy, while also having the ability to change the way they regulate according to changes in the economy, so as to take into account new developments, which is critical. Far from being the simple renaming of the institutions, bringing together macro-prudential regulation with regulation of the economy and monetary policy more broadly is central to restoring the ability to prevent the build-up of credit, as happened over the past 15 years.
Does my hon. Friend agree that it is better to have a regulator who is fleet of foot than a clunking fist?