Autumn Statement

Theresa May Excerpts

Thursday 17th November 2022 Commons Chamber

[Jeremy Hunt]

I thank the hon. Lady for her comments. She is complaining about economic instability damaging business in Scotland, but she supports the most destabilising policy of all: separation from the United Kingdom. She complained about Brexit, but 1 million voters in Scotland voted for Brexit, and we are implementing the will of the British people. Behind the sparring in this House, we actually have very good relations with the Scottish Government. My right hon. Friend the Chief Secretary to the Treasury has already met John Swinney, the Finance Minister, and we have good co-operation.

I need to correct the hon. Lady on one point. She said that we are not investing in energy efficiency. What I said—if she listened to my words—is that in this Parliament we are spending £6.6 billion in energy efficiency, and a further £6 billion from 2025. I understand that separation means more to her than anything else in politics, but families in Scotland heard other things today. They heard about the £600 million for the Scottish NHS, £385 million for schools and more than £4 billion to help Scottish families with their energy bills, on top of £4 billion to build the latest frigates. That is because we are more than neighbours; we are family, and Conservatives always back families.

[Mrs Theresa May (Maidenhead) (Con)]

I welcome and commend my right hon. Friend’s and the Government’s commitment to sound money and sound public finances. I also welcome the commitment my right hon. Friend has given to innovation and R&D in developing and rebuilding our economy, but could I ask him to go further and look again at the definition of what qualifies as R&D for tax credits? I think more can be done to boost our economy for the future.

[Jeremy Hunt]

I thank my right hon. Friend for the tremendous support she gave to science and innovation when she was Prime Minister. That is very much something we want to build on as we go forward. We are looking at all the taxes around R&D relief, which we want to encourage. There has been a certain amount of abuse, but we particularly want to encourage use of the relief among small companies, which can often be the most innovative, so I will take away her comments and maybe talk to her separately about what can be done better.