Only last month did we witness the collapse of the oldest travel company in the world. When the figures were scrutinised it became clear that the CEOs took huge pay packets before the collapse of the company. We have also seen the collapse of Carrillion who faced exactly the same issue: high executive pay and a risky approach to managing the business.
Over two years ago the UK Government published a Green Paper – a document that sets out their plan of action – on corporate responsibility. Since then hardly any action has been taken. That’s why I pushed the minister for assurances that action would be taken as too many people’s jobs are being put at risk.
The minister said that they have implemented some voluntary measures and believe that because executive pay has slightly fallen they need not take anymore action. The longer the UK Government let large corporations off like this the more frequent a collapse like Thomas Cook will happen.
The UK Government has embarked on a process of reducing the support given to the solar power industry. This has seen a drastic decrease in the number of solar sites being established compared to years under the old subsidy scheme.
This should worry everyone who wants to see the UK leading the way in tackling climate change. If we do not reduce our dependency on high-carbon fuels and cut our CO2 emissions we will be leaving the planet in a worse state for the next generation.
Solar is a valuable industry and brings with it new highly skilled manufacturing jobs as well. For these two reasons alone the UK Government should rethink their current plans and support solar power.
In a very busy chamber, I asked the Secretary of State for BEIS what action he will be taking to ensure that there are more charging points for electric vehicles in rural areas.
In Flintshire there are only two charging points for the whole county meaning that we cannot benefit from this technology. If we are going to cut our carbon emissions and embolden the next generation of car manufacture techniques we need to be supporting this technology not hindering it.
On Tuesday, I asked the Business Minister, Margot James MP, about the Royal Bank of Scotland (RBS) Enterprise Finance Guarantee (EFG) scandal.
The EFG was a government scheme established to help struggling businesses – especially construction firms – after the banking crash of 2008. However, RBS appear to have used the EFG to transfer debt to the government scheme to help with their terrible balance sheets. This caused many viable businesses, including ones in Delyn, to be put under tremendous pressure causing foreclosure. Read more “Business, Energy and Industrial Strategy Questions: RBS”