11 October 2010
George supports the Bill highlighting measures to promote high-growth companies in the biomedicine, food science and environmental science in particular.
George Freeman (Mid Norfolk) (Con): I start by congratulating my hon. Friend the Member for Skipton and Ripon (Julian Smith) on the magnificent maiden speech that he made earlier. If he is indeed the penultimate Conservative of the new intake to speak, it was certainly worth the wait. I am sure that the people of Skipton and Ripon can see that they have made an excellent choice. I also take a moment to congratulate the hon. Member for Nottingham East (Chris Leslie) on his elevation to the Labour Front Bench; like the Geoffrey Boycott of the debate, he has stood at the crease manfully as his colleagues behind have been skittled out.
In supporting this key plank of the coalition Government's programme to tackle the deficit, I wanted to stress three key points in the time available. There is the seriousness of the crisis in our public finances that we inherited from the Opposition; I have to say that it is disappointing not to see more of the people responsible for the crisis here this evening. Secondly, there is the key role of the private sector in generating the growth that we now need to pay for the public services that we all cherish. Thirdly, there is the specific importance of the measures in clauses 10 and 12 to promote venture capital trusts and research and development relief for high-growth SMEs, which are especially important to the recovery for reasons that I will touch on in a moment. I emphasise the importance of high-growth companies as one who has come to the House after a 15-year career of supporting technology companies in the life sciences sector. I declare an interest in a number of small companies set out in the register.
In discussing the measures in the Bill, we need to remind ourselves of some hard facts. The deficit currently stands at £155 billion. It is the largest in our peacetime history. We have the largest deficit in the G20. This year alone, debt interest is set at £43 billion, and without the measures set out by the coalition Government and my right hon. Friend the Chancellor to tackle the deficit, interest payments alone would have risen to £70 billion a year.
To prevent interest rates from spiking-the true risk of that inheritance-the Government are right to commit to reducing public spending and increasing private sector growth. Labour Members talk of growth, but seem to forget that it is the private sector that is the source of all growth and that pays for any growth in the public sector that we or they may promise. It is private-sector business people up and down the country who pay for our promises, and they now need our support.
We need to think about where the growth will come from, and I should like to suggest two key sources. First, the millions of SMEs up and down the country, frankly, want us to do something simple-get off their backs, stop taxing and regulating them and allow them to grow and flourish as they will. I also want to turn to a second source of growth, which is the three key specialist sectors of which I have some experience. They are biomedicine, food science and environmental science, in which the country punches well above its weight; in many areas of those sectors it leads the world. As the world's population rises inexorably, they will become enormous sectors of growth across the world.
High-growth companies in those sectors have the potential to lead our recovery and lead this country back into positions of world leadership, provided that we support them properly. High-growth SMEs in the sectors have very special financing needs. Unlike smaller, high-street SMEs, which are struggling so hard, they are not, typically, dependent on the banks. They tend to be dependent on entrepreneurs, on founders-often scientists or people around universities or research institutes, who are then backed up by angel investors who put their expertise and hard earned money to good use, by venture capital trusts and by corporate venture investors. We need to recognise the importance of that very specific financing food chain and encourage it. I therefore warmly welcome the measures in clauses 10 and 12 on tax relief for research funding and SMEs and for encouraging venture capital trusts. More widely, I welcome the coalition Government's measures to reduce corporation tax and to relieve entrepreneurs on capital gains tax.
Those are vital measures in a serious Government programme to tackle the deficit. It would be nice to hear from Labour Members what they would do to tackle the deficit were they to be in power.
| Hansard
George Freeman (Mid Norfolk) (Con): I start by congratulating my hon. Friend the Member for Skipton and Ripon (Julian Smith) on the magnificent maiden speech that he made earlier. If he is indeed the penultimate Conservative of the new intake to speak, it was certainly worth the wait. I am sure that the people of Skipton and Ripon can see that they have made an excellent choice. I also take a moment to congratulate the hon. Member for Nottingham East (Chris Leslie) on his elevation to the Labour Front Bench; like the Geoffrey Boycott of the debate, he has stood at the crease manfully as his colleagues behind have been skittled out.
In supporting this key plank of the coalition Government's programme to tackle the deficit, I wanted to stress three key points in the time available. There is the seriousness of the crisis in our public finances that we inherited from the Opposition; I have to say that it is disappointing not to see more of the people responsible for the crisis here this evening. Secondly, there is the key role of the private sector in generating the growth that we now need to pay for the public services that we all cherish. Thirdly, there is the specific importance of the measures in clauses 10 and 12 to promote venture capital trusts and research and development relief for high-growth SMEs, which are especially important to the recovery for reasons that I will touch on in a moment. I emphasise the importance of high-growth companies as one who has come to the House after a 15-year career of supporting technology companies in the life sciences sector. I declare an interest in a number of small companies set out in the register.
In discussing the measures in the Bill, we need to remind ourselves of some hard facts. The deficit currently stands at £155 billion. It is the largest in our peacetime history. We have the largest deficit in the G20. This year alone, debt interest is set at £43 billion, and without the measures set out by the coalition Government and my right hon. Friend the Chancellor to tackle the deficit, interest payments alone would have risen to £70 billion a year.
To prevent interest rates from spiking-the true risk of that inheritance-the Government are right to commit to reducing public spending and increasing private sector growth. Labour Members talk of growth, but seem to forget that it is the private sector that is the source of all growth and that pays for any growth in the public sector that we or they may promise. It is private-sector business people up and down the country who pay for our promises, and they now need our support.
We need to think about where the growth will come from, and I should like to suggest two key sources. First, the millions of SMEs up and down the country, frankly, want us to do something simple-get off their backs, stop taxing and regulating them and allow them to grow and flourish as they will. I also want to turn to a second source of growth, which is the three key specialist sectors of which I have some experience. They are biomedicine, food science and environmental science, in which the country punches well above its weight; in many areas of those sectors it leads the world. As the world's population rises inexorably, they will become enormous sectors of growth across the world.
High-growth companies in those sectors have the potential to lead our recovery and lead this country back into positions of world leadership, provided that we support them properly. High-growth SMEs in the sectors have very special financing needs. Unlike smaller, high-street SMEs, which are struggling so hard, they are not, typically, dependent on the banks. They tend to be dependent on entrepreneurs, on founders-often scientists or people around universities or research institutes, who are then backed up by angel investors who put their expertise and hard earned money to good use, by venture capital trusts and by corporate venture investors. We need to recognise the importance of that very specific financing food chain and encourage it. I therefore warmly welcome the measures in clauses 10 and 12 on tax relief for research funding and SMEs and for encouraging venture capital trusts. More widely, I welcome the coalition Government's measures to reduce corporation tax and to relieve entrepreneurs on capital gains tax.
Those are vital measures in a serious Government programme to tackle the deficit. It would be nice to hear from Labour Members what they would do to tackle the deficit were they to be in power.
| Hansard
30 September 2010
Broadband Update
Norfolk County Council and Shaping Norfolk’s Future released a map (below) last week showing the level of broadband coverage in Norfolk based on distances from BT exchanges.
Areas that are green are where standard broadband speeds are likely to be available, whereas areas in purple are likely to receive higher broadband speeds.
The bits of the map in white being over 2.5km from exchanges and therefore unlikely to up to 2mbps coverage.
Commenting on the map, George said “this map clearly shows there that Mid Norfolk is beset with ‘not spots’. A ‘one size fits all’ solution seems unlikely, so we need to continue to support innovative approaches and look to bring pilot schemes to Norfolk.”
As part of an innovative pilot, George recently brought together residents of the village of Lyng with Sharedband, a local company who specialise in providing rural broadband. The residents have formed an action group and are looking to establish a ‘pub hub’ for their broadband scheme at the Fox and Hounds.
Click on map to download pdf version (1.05M)
27 September 2010
George met with members of the Norfolk Business Community and other regional MPs on Friday to co-ordinate a final push for dualing ahead of the Comprehensive Spending Review.
For more coverage on the event, see the EDP article here (link: http://bit.ly/bWCm1i) or the BBC News article here
For more coverage on the event, see the EDP article here (link: http://bit.ly/bWCm1i) or the BBC News article here
24 September 2010
George officially opened 10 new affordable homes last week in the Mid Norfolk village of Saham Toney.
The homes, which could have been let four times over due to level of demand, also have several sustainable features including the use of ground sourced heat pumps to reduce energy bills.
Speaking afterwards, George said “we do need more affordable housing in Norfolk, but built in a sustainable way that fits into our existing communities.”
During the recess, George met with the Wherry Housing Association in Norwich to hear about the current challenges for social housing in Mid Norfolk and how local housing associations are looking to overcome them.
For more coverage on the opening, please visit the Swaffham and Watton Times Article here http://bit.ly/9wQo6k or the Homes and Communities Article here: http://www.homesandcommunities.co.uk/New-homes-in-Saham
The homes, which could have been let four times over due to level of demand, also have several sustainable features including the use of ground sourced heat pumps to reduce energy bills.
Speaking afterwards, George said “we do need more affordable housing in Norfolk, but built in a sustainable way that fits into our existing communities.”
During the recess, George met with the Wherry Housing Association in Norwich to hear about the current challenges for social housing in Mid Norfolk and how local housing associations are looking to overcome them.
For more coverage on the opening, please visit the Swaffham and Watton Times Article here http://bit.ly/9wQo6k or the Homes and Communities Article here: http://www.homesandcommunities.co.uk/New-homes-in-Saham
24 September 2010
George was part of a group of Norfolk MPs that recently met with Theresa Villiers, the Minister of State responsible for rail in the Department of Transport.
The group highlighted to the Minister the importance of investing in rail links between Norwich, London and Cambridge as a way of unlocking economic opportunities in Norfolk.
Commenting on the meeting George said “we need to keep pushing the case that Norfolk could lead the world in many industries, but we are currently crippled by poor infrastructure.
“Investing in broadband, road and rail links here would unlock our region’s potential and in turn, boost the national economy.”
During the recess, George also met with representatives of National Express in Norwich to raise concerns that have been highlighted by constituents regarding local services. They also discussed the importance of fuel prices to bus companies.
George also recently met with RMI Petrol Association to hear about the challenges facing a family garage business when competing with larger national service chains.
Photo: Norfolk MPs meet with Theresa Villiers at the Department of Transport
The group highlighted to the Minister the importance of investing in rail links between Norwich, London and Cambridge as a way of unlocking economic opportunities in Norfolk.
Commenting on the meeting George said “we need to keep pushing the case that Norfolk could lead the world in many industries, but we are currently crippled by poor infrastructure.
“Investing in broadband, road and rail links here would unlock our region’s potential and in turn, boost the national economy.”
During the recess, George also met with representatives of National Express in Norwich to raise concerns that have been highlighted by constituents regarding local services. They also discussed the importance of fuel prices to bus companies.
George also recently met with RMI Petrol Association to hear about the challenges facing a family garage business when competing with larger national service chains.
Photo: Norfolk MPs meet with Theresa Villiers at the Department of Transport
22 September 2010
George Freeman today stressed the need for family and personal responsibility to underpin any reforms to the care systems.
Speaking at the sixth annual Norfolk Care Conference at the John Innes Centre in Norwich, George Freeman rejected the ‘Whitehall knows best’ attitude of the past.
Mr Freeman focused on three key areas during his speech: the current plans of the coalition for the care system and its importance to Norfolk and Britain socially and economically; the need for closer integration in care delivery between different branches of government; and also at some of the principles he believes need to be the foundations on which the future of our care system is built.
Commenting on the speech, George said “Our care system has been dependant on carers constantly going beyond the call of duty, but with an increasingly elderly population and with care demands continuing to rise this simply isn’t sustainable.
“With the ongoing commission the coalition government has a unique opportunity to lay the foundations for a long term care system that is affordable, sustainable and provides choice to patients.”
“However we cannot make the mistake of presuming the state can deliver everything for everyone. We need the people who can to save responsibly and for families and communities to support one another. Creating another central Government entitlement that we do not save for and cannot afford down the line, saddling our children with more debt and more problems is not a sustainable solution.”
Speaking at the sixth annual Norfolk Care Conference at the John Innes Centre in Norwich, George Freeman rejected the ‘Whitehall knows best’ attitude of the past.
Mr Freeman focused on three key areas during his speech: the current plans of the coalition for the care system and its importance to Norfolk and Britain socially and economically; the need for closer integration in care delivery between different branches of government; and also at some of the principles he believes need to be the foundations on which the future of our care system is built.
Commenting on the speech, George said “Our care system has been dependant on carers constantly going beyond the call of duty, but with an increasingly elderly population and with care demands continuing to rise this simply isn’t sustainable.
“With the ongoing commission the coalition government has a unique opportunity to lay the foundations for a long term care system that is affordable, sustainable and provides choice to patients.”
“However we cannot make the mistake of presuming the state can deliver everything for everyone. We need the people who can to save responsibly and for families and communities to support one another. Creating another central Government entitlement that we do not save for and cannot afford down the line, saddling our children with more debt and more problems is not a sustainable solution.”
22 September 2010
The Government’s White Paper on Health proposes radically shifting power away from Whitehall to patients and local GPs.
George recently visited two organisations in Mid Norfolk to hear their views and discuss how best to implement the changes.
At the North Elmham Surgery George met with Practice Manager Judith Wood, to hear about the innovative community based medicine initiatives that the practice has been pioneering.
George also met with representatives of NHS Norfolk to discuss the White Paper.
George said “the forthcoming changes in health offer a real opportunity to give power to patients, but it is important that the changes are well delivered and that they serve both Norfolk patients and rural areas generally well.
“These visits provided really good local feedback that I will pass onto the health team.”
George recently visited two organisations in Mid Norfolk to hear their views and discuss how best to implement the changes.
At the North Elmham Surgery George met with Practice Manager Judith Wood, to hear about the innovative community based medicine initiatives that the practice has been pioneering.
George also met with representatives of NHS Norfolk to discuss the White Paper.
George said “the forthcoming changes in health offer a real opportunity to give power to patients, but it is important that the changes are well delivered and that they serve both Norfolk patients and rural areas generally well.
“These visits provided really good local feedback that I will pass onto the health team.”
22 September 2010
During the recess George visited two organisations working to help overcome the difficulties in the current jobs market.
George met with staff members and Advisory Team Manager Lynn Rolland at the JobCentre Plus to hear about current trends in the local job market and the additional difficulties of rural unemployment.
He then met with the Dereham Connexions Advisers to hear about their work with ‘at risk’ teenagers and why the team feel Connexions should retain its funding in the rationalisation of services arising from the crisis in the public finances.
Commenting on the visits, George said “these organisations are working hard for our area and helping many people find an opportunity at what is a very difficult time.”
If you would like to contact either Dereham JobCentre Plus or Connexions, please visit:
http://www.breckland.gov.uk/jobcentres
or
http://www.connexions-norfolk.co.uk/
George met with staff members and Advisory Team Manager Lynn Rolland at the JobCentre Plus to hear about current trends in the local job market and the additional difficulties of rural unemployment.
He then met with the Dereham Connexions Advisers to hear about their work with ‘at risk’ teenagers and why the team feel Connexions should retain its funding in the rationalisation of services arising from the crisis in the public finances.
Commenting on the visits, George said “these organisations are working hard for our area and helping many people find an opportunity at what is a very difficult time.”
If you would like to contact either Dereham JobCentre Plus or Connexions, please visit:
http://www.breckland.gov.uk/jobcentres
or
http://www.connexions-norfolk.co.uk/
21 September 2010
Norfolk and Waveney Mental Health
During the Parliamentary recess George visited the Norfolk and Waveney Mental Health Trust at Hellesdon Hospital.
George heard about the services that the Trust offers, the current issues surrounding mental health provision in Norfolk and the plans to move to new premises in Wymondham.
Speaking afterwards, George said “mental health is something that affects many people yet is sadly often overlooked, so I’m very encouraged by the work of the trust.
“The move to the new premises sounds very positive and it was good to hear about services already improving through better inter-agency working.”
21 September 2010
George recently visited the Lotus Engineering Centre in Norfolk.
Whilst there he met with many of the staff including Matthew Jones, the Head of Strategy and Corporate Planning, saw a new Lotus model being made, and heard about the firm’s plans to invest in and expand their current site.
“I’m very grateful to Lotus for letting me attend. They are a shining example of what Norfolk’s future could be. They bring together engineering expertise and support for the local economy.
“If we can make Norfolk a more viable place for business, with better infrastructure and broadband, we can attract other firms with the same quality as Lotus. We need to combine our high quality of life with new industries to keep Norfolk sustainable and exceptional.”
Whilst there he met with many of the staff including Matthew Jones, the Head of Strategy and Corporate Planning, saw a new Lotus model being made, and heard about the firm’s plans to invest in and expand their current site.
“I’m very grateful to Lotus for letting me attend. They are a shining example of what Norfolk’s future could be. They bring together engineering expertise and support for the local economy.
“If we can make Norfolk a more viable place for business, with better infrastructure and broadband, we can attract other firms with the same quality as Lotus. We need to combine our high quality of life with new industries to keep Norfolk sustainable and exceptional.”
