See more like "GKN"

GKN
Debate between Mr Gavin Shuker and Greg Clark
Tuesday 24 April 2018

(1 year, 7 months ago)

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Commons Chamber
Department for Business, Energy and Industrial Strategy
Mr Gavin Shuker Portrait Mr Gavin Shuker (Luton South) (Lab/Co-op) - Parliament Live - Hansard
24 Apr 2018, 2:44 p.m.

Workers at GKN’s Luton plant in my constituency are world leaders in ice protection systems for flight-deck windows and fast-jet canopies, and I believe they will share my dismay that the assurances the Secretary of State has put in place amount to little more than the new management picking up the phone and informing him before it does things that damage our national security and national interest. Is not the reality of the quasi-judicial nature of the decision-making process that he and future Secretaries of State will always veer on the side of caution, rather than face the prospect of being challenged in court when a takeover goes through?

Greg Clark Portrait Greg Clark - Hansard
24 Apr 2018, 2:44 p.m.

I am sure it is an unaccountable oversight that the hon. Member for Luton North (Kelvin Hopkins) has never served in government.

For the constituents of the hon. Member for Luton South (Mr Shuker), during the takeover bid, the incumbent management criticised the commitment to hold the aerospace division for five years. Given that a majority of the company was to be sold as part of the incumbent management’s plans, it is fair to observe that it is not clear there would be any greater stability—I put it as mildly as that—if the incumbent management had continued, rather than the new management that shareholders chose to manage the company.

See more like "Industrial Strategy Challenge Fund"

Industrial Strategy Challenge Fund
Debate between Mr Gavin Shuker and Greg Clark
Tuesday 12 September 2017

(2 years, 3 months ago)

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Commons Chamber
Department for Business, Energy and Industrial Strategy
Mr Gavin Shuker Portrait Mr Gavin Shuker (Luton South) (Lab/Co-op) - Hansard

11. To ask the Secretary of State what assessment he has made of the capacity of the industrial strategy challenge fund to increase economic growth. [900794]

Greg Clark Portrait The Secretary of State for Business, Energy and Industrial Strategy (Greg Clark) - Hansard
12 Sep 2017, 12:07 p.m.

The industrial strategy challenge fund will help to drive growth in all parts of the country by using research and development to position us well in global markets where Britain has particular strengths.

Mr Gavin Shuker Portrait Mr Shuker - Hansard
12 Sep 2017, 12:07 p.m.

Can the Secretary of State explain why his challenge fund is directed at sectors that are dominated by an over-representation of men, while many of the professions in which females are over-represented face low investment, low skills, low pay and low productivity?

Greg Clark Portrait Greg Clark - Hansard
12 Sep 2017, 12:08 p.m.

Our exchanges this morning show the potential and the strengths that we have in successful sectors such as the automotive, healthcare and medicine, and satellite and space sectors, in which we are creating very good jobs. However, my ambition and my Department’s ambition—which I hope the hon. Gentleman shares—is to increase the proportion of women and other groups who are under-represented in those industries, because there is talent there that we should be using, and part of our drive is to get the best talent into those world-beating industries.

See more like "Corporate Governance"

Corporate Governance
Debate between Mr Gavin Shuker and Greg Clark
Tuesday 12 September 2017

(2 years, 3 months ago)

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Commons Chamber
Department for Business, Energy and Industrial Strategy
Greg Clark Portrait Greg Clark - Hansard
12 Sep 2017, 12:06 p.m.

We consulted widely on the Green Paper, and the set of reforms that we are making has enjoyed broad support. We are proposing to extend the holding periods for long-term share incentives from three years to five years. I think the hon. Lady played some part in the introduction of the three-year periods, and I hope that she will welcome the extension. We are also making it a more explicit requirement of boards, including boards of directors, to reflect in their reports and accounts what they are doing for a wider range of stakeholders, not just the short-term issues. I hope the hon. Lady will welcome that as well.