I thank the Minister, but we are still little the wiser about a strategy. The Prime Minister removed the words “industrial strategy” from the business department. As Chancellor, he scrapped the Government’s industrial strategy and the independent Industrial Strategy Council. Instead, we now get announcements, as now—soundbites instead of sound economics. Can the Minister say precisely when the Government will produce a much-needed comprehensive and co-ordinated industrial strategy? That will help business, industry and investors plan for the long term and, we hope, get some growth and progress back into the economy.

I thank the Minister, but we are still little the wiser about a strategy. The Prime Minister removed the words “industrial strategy” from the business department. As Chancellor, he scrapped the Government’s industrial strategy and the independent Industrial Strategy Council. Instead, we now get announcements, as now—soundbites instead of sound economics. Can the Minister say precisely when the Government will produce a much-needed comprehensive and co-ordinated industrial strategy? That will help business, industry and investors plan for the long term and, we hope, get some growth and progress back into the economy.

To ask His Majesty’s Government what steps they are taking to recognise the role of carers in England and their contribution to the economy.

To ask His Majesty’s Government what steps they are taking to recognise the role of carers in England and their contribution to the economy.

Yes, the Government are at last starting to recognise the value of carers. In spite of the excellent work of front-line carers, the paid-for system remains inadequate, even with the adult social care Bill—a Private Member’s Bill. We know that it is inadequate because millions of men and women, and

even children, have to step in as part-time carers, limiting their time in work, education or training, at great cost to the economy. When are the Government going to introduce the social and economic reforms to the social care system that would enable these voluntary part-time carers to fully participate in and contribute to the economy?

Yes, the Government are at last starting to recognise the value of carers. In spite of the excellent work of front-line carers, the paid-for system remains inadequate, even with the adult social care Bill—a Private Member’s Bill. We know that it is inadequate because millions of men and women, and

even children, have to step in as part-time carers, limiting their time in work, education or training, at great cost to the economy. When are the Government going to introduce the social and economic reforms to the social care system that would enable these voluntary part-time carers to fully participate in and contribute to the economy?

To ask His Majesty’s Government what assessment they have made as to whether unemployment figures provide an accurate picture of the situation in the labour market.

To ask His Majesty’s Government what assessment they have made as to whether unemployment figures provide an accurate picture of the situation in the labour market.

I thank the Minister for that reply, but the statistics do not properly identify the approximately 9 million inactive people—yes, 9 million—who are ready and willing to work but are unable to do so because of caring responsibilities, mental or physical illness, because they have been let down by back-to-work programmes and failed by the Government or because of changes in the world of work. Since the pandemic, the number has grown by 640,000, whereas in other similar economies the number is declining. What are the Government doing to properly identify and address this inactivity? With low unemployment and many job vacancies, they should be doing this as part of the growth agenda.

I thank the Minister for that reply, but the statistics do not properly identify the approximately 9 million inactive people—yes, 9 million—who are ready and willing to work but are unable to do so because of caring responsibilities, mental or physical illness, because they have been let down by back-to-work programmes and failed by the Government or because of changes in the world of work. Since the pandemic, the number has grown by 640,000, whereas in other similar economies the number is declining. What are the Government doing to properly identify and address this inactivity? With low unemployment and many job vacancies, they should be doing this as part of the growth agenda.

The Minister has not mentioned rising inflation, rising hardship and inequality, low growth and productivity, strikes, a fuel crisis and, especially today, climate change. All tell us that the outlook is dire. What are we going to do about it? Judging by the Tory leadership hustings, we are going to cut taxes and cut public spending, either now or later. No wonder the Conservative-dominated House of Commons Treasury Committee accused Ministers of a

“lack of long-term thinking in economic strategy”.

Those whom we rely on to invest and grow the economy do not make decisions based on headline tax rates and soundbites. Even though we only have a caretaker Government, will the Minister urge her colleagues to start thinking through a proper strategy to deal with this economic crisis, or simply adopt Labour’s strategy?

The Minister has not mentioned rising inflation, rising hardship and inequality, low growth and productivity, strikes, a fuel crisis and, especially today, climate change. All tell us that the outlook is dire. What are we going to do about it? Judging by the Tory leadership hustings, we are going to cut taxes and cut public spending, either now or later. No wonder the Conservative-dominated House of Commons Treasury Committee accused Ministers of a

“lack of long-term thinking in economic strategy”.

Those whom we rely on to invest and grow the economy do not make decisions based on headline tax rates and soundbites. Even though we only have a caretaker Government, will the Minister urge her colleagues to start thinking through a proper strategy to deal with this economic crisis, or simply adopt Labour’s strategy?

To ask Her Majesty’s Government what assessment they have made of forecasts of an economic downturn later this year, and what steps they are taking in response.

To ask Her Majesty’s Government what assessment they have made of forecasts of an economic downturn later this year, and what steps they are taking in response.

To ask Her Majesty’s Government what assessment they have made of the survey by the British Retail Consortium, published on 17 May, which concluded that the apprenticeship levy scheme was “not fit for purpose”; and what steps they intend to take to modify that scheme.

To ask Her Majesty’s Government what assessment they have made of the survey by the British Retail Consortium, published on 17 May, which concluded that the apprenticeship levy scheme was “not fit for purpose”; and what steps they intend to take to modify that scheme.

I thank the Minister for that reply. Some of the Government’s so-called improvements were actually announced a year ago, but this report was issued last month, so they are not working. The BRC is not alone: the food industry and manufacturers are all equally critical of the levy in its present form—in fact, it faces opposition from 80% of employers. We all want to create a higher-skilled and more productive workforce, yet entry-level apprenticeships are declining, letting down the very young people who would benefit most, while more levy money is being spent on management and other courses for existing employees. When will the Government put this right and introduce the sensible changes proposed in this and other reports?

I thank the Minister for that reply. Some of the Government’s so-called improvements were actually announced a year ago, but this report was issued last month, so they are not working. The BRC is not alone: the food industry and manufacturers are all equally critical of the levy in its present form—in fact, it faces opposition from 80% of employers. We all want to create a higher-skilled and more productive workforce, yet entry-level apprenticeships are declining, letting down the very young people who would benefit most, while more levy money is being spent on management and other courses for existing employees. When will the Government put this right and introduce the sensible changes proposed in this and other reports?

To ask Her Majesty's Government what plans they have, if any, to modify the Apprenticeship Levy scheme to address (1) dissatisfaction from participants, and (2) concerns about its effectiveness.

To ask Her Majesty's Government what plans they have, if any, to modify the Apprenticeship Levy scheme to address (1) dissatisfaction from participants, and (2) concerns about its effectiveness.

To ask Her Majesty’s Government what plans they have to incorporate British Standard 95009 in the simplified approach to public procurement proposed in their white paper Levelling Up the United Kingdom, published on 2 February.

To ask Her Majesty’s Government what plans they have to incorporate British Standard 95009 in the simplified approach to public procurement proposed in their white paper Levelling Up the United Kingdom, published on 2 February.

My Lords, there is considerable public concern that levelling-up funds or prosperity funds will be politicised, favouring certain areas or businesses. This British Standard lays out how businesses can demonstrate their suitability for public procurement and at the same time enables procuring bodies to assess bidders readily and accurately in a fairer and more open way. Surely this helps companies to become more effective, productive and relevant to their local economy. Is this not exactly what levelling up is about?

My Lords, there is considerable public concern that levelling-up funds or prosperity funds will be politicised, favouring certain areas or businesses. This British Standard lays out how businesses can demonstrate their suitability for public procurement and at the same time enables procuring bodies to assess bidders readily and accurately in a fairer and more open way. Surely this helps companies to become more effective, productive and relevant to their local economy. Is this not exactly what levelling up is about?

I thank the Minister for her response, which certainly deals with the marketing and promotion of crypto but does not deal with its

actual use. For example, as reported in today’s Financial Times, crypto is being used as a way round the financial sanctions against Russia and can be used to get round the controls of the proposed economic crime Bill. Does the Minister agree with the Financial Stability Board that this poses a risk to the stability of traditional currencies and public security? Will the Government listen to these concerns and apply strong, prudential controls? Most importantly, will they give agencies the resources and powers to enforce controls, and, for example, call on the G20 to co-ordinate international regulation and supervision?

I thank the Minister for her response, which certainly deals with the marketing and promotion of crypto but does not deal with its

actual use. For example, as reported in today’s Financial Times, crypto is being used as a way round the financial sanctions against Russia and can be used to get round the controls of the proposed economic crime Bill. Does the Minister agree with the Financial Stability Board that this poses a risk to the stability of traditional currencies and public security? Will the Government listen to these concerns and apply strong, prudential controls? Most importantly, will they give agencies the resources and powers to enforce controls, and, for example, call on the G20 to co-ordinate international regulation and supervision?

To ask Her Majesty’s Government what steps they are taking to regulate and supervise the use of cryptocurrencies.

To ask Her Majesty’s Government what steps they are taking to regulate and supervise the use of cryptocurrencies.

To ask Her Majesty’s Government what steps they are taking to reform the United Kingdom’s water industry.

To ask Her Majesty’s Government what steps they are taking to reform the United Kingdom’s water industry.

My Lords, the Minister mentioned the Environment Act. This Act is ineffective because it has no set timetable or targets to clean up our water. There has been a stream of reports calling for action, all of which call for infrastructure investment by the water companies and for more action and less complacency from the regulator. But, after increasing dividends and company debt, most water companies are in no position to carry out the necessary investment. Indeed, one industry executive said that the water companies were spending more on maintaining their assets, which are deteriorating, rather than replacing them. Does the Minister agree that this situation is a danger to public health and risks creating our very own homegrown pandemic?

My Lords, the Minister mentioned the Environment Act. This Act is ineffective because it has no set timetable or targets to clean up our water. There has been a stream of reports calling for action, all of which call for infrastructure investment by the water companies and for more action and less complacency from the regulator. But, after increasing dividends and company debt, most water companies are in no position to carry out the necessary investment. Indeed, one industry executive said that the water companies were spending more on maintaining their assets, which are deteriorating, rather than replacing them. Does the Minister agree that this situation is a danger to public health and risks creating our very own homegrown pandemic?

Is the Minister aware that British steel producers are at a disadvantage because they pay a local carbon tax that is not paid by Chinese or Russian producers? We have been aware of this loophole for some time. To address this, will the Government introduce a carbon border tax? This is important not only for British jobs and British security but also to help address climate change.

Is the Minister aware that British steel producers are at a disadvantage because they pay a local carbon tax that is not paid by Chinese or Russian producers? We have been aware of this loophole for some time. To address this, will the Government introduce a carbon border tax? This is important not only for British jobs and British security but also to help address climate change.

To ask Her Majesty’s Government what assessment they have made of the compatibility of their trade policy with their climate change ambitions.

To ask Her Majesty’s Government what assessment they have made of the compatibility of their trade policy with their climate change ambitions.

I welcome the Minister’s fine words, but some trade agreements seem to ignore them. For example, will we continue our membership of the 53-nation Energy Charter Treaty and the interstate dispute settlement protocol, both of which protect

fossil fuel companies against measures that damage their profits and have been used to challenge environmental regulations?

I welcome the Minister’s fine words, but some trade agreements seem to ignore them. For example, will we continue our membership of the 53-nation Energy Charter Treaty and the interstate dispute settlement protocol, both of which protect

fossil fuel companies against measures that damage their profits and have been used to challenge environmental regulations?