Oral Answers to Questions

Lisa Cameron Excerpts

Thursday 23rd March 2023 Commons Chamber

[Ms Ghani]

My right hon. Friend is always so succinct in his questions, and there is often a huge amount of sense behind it. I fundamentally agree that we need to collaborate with business and industry. [Interruption.] Forgive me, Mr Speaker. The response I want to give to my right hon. Friend’s very good question is that, as he will be pleased to know, there is the Lord Hill listing review and the Sir Douglas Flint review, and in particular the Edinburgh reforms, which will be considering competitiveness and will, I think, provide some sort of answer to his question. It would be remiss of me—because I know that he is particularly interested in this—not to mention that it is 50 years since women were first admitted to the floor of the New York stock exchange after 170 years of just men.

[Dr Lisa Cameron (East Kilbride, Strathaven and Lesmahagow) (SNP)]

15. What steps her Department is taking to help support the fashion and textile industry. [R]

[The Secretary of State for Business and Trade (Kemi Badenoch)]

My Department actively engages and promotes fashion and textile companies domestically and internationally. In 2022, fashion, footwear and textiles exports totalled £7.5 billion. For 2023-24, my Department is providing the British Fashion Council with funding to support London fashion week, and the UK Fashion and Textile Association with funding for activity at key international trade sector shows. To drive sustainability across the sector, we have announced, via UK Research and Innovation, a £15 million circular fashion programme.

[Dr Cameron]

The Chancellor has set out his long-term plan for growth, including harnessing our creative industries. As has been said, the UK fashion and textile industry already punches well above its weight, employing in excess of 500,000 people, including in Scotland. Will the Department meet the all-party parliamentary group on textiles and fashion to look at what more can be done to harness young fashion designers who want to walk in the wake of such icons as Stella McCartney?

[Kemi Badenoch]

I would be happy for either officials or a Minister in my Department, depending on diaries, to have a meeting with the APPG. It is a sector that we want to support, and we will do all we can to demonstrate that.

--- Later in debate ---

[Kemi Badenoch]

I thank my hon. Friend for raising that issue, because it gives me an opportunity to point out that that is also an issue in my constituency, and something I am concerned about. Unfortunately, it is a matter for the Secretary of State for Science, Innovation and Technology, because BDUK is an Executive agency of hers, but if she requires any support from me as Business Secretary, I would be happy to provide it. BDUK is doing a good job in looking at this issue in the round, but we would be happy to help and do whatever we can to support businesses in all our constituencies.

[Dr Lisa Cameron (East Kilbride, Strathaven and Lesmahagow) (SNP)]

T5. The crypto and digital assets all-party group has been informed, shockingly, that many businesses are struggling to even open a UK bank account. What support can be given to address that issue, and ensure that the UK remains an international hub for fintech innovation?

[The Parliamentary Under-Secretary of State for Business and Trade (Kevin Hollinrake)]

My hon. Friend raises an interesting point, which is similar to the one raised earlier. I am happy to look at any particular instance where businesses cannot open a bank account. My hon. Friend the Economic Secretary to the Treasury is also interested in this issue, so if my hon. Friend writes to me about any instances I will look into them.