I accept that that is better than nothing, but it falls far short of the Ernst and Young assessment of what is needed for the green investment bank to generate a green economy. Other surveys also underpin the original Ernst and Young one. No provision is being made for reviewing and reporting on the bank to obtain some sort of public estimate of just how far it is fulfilling the role it should have. No provision is being made for procurement for small and medium-sized
enterprises, although I welcomed the Minister’s comments about the amount of funds that are going in their direction. In addition, there is a real risk that the opportunity to develop a green economy will be lost because the so-called “green investment bank” will just become a niche fund, instead of being what it should be—a driver to develop a green economy, with all the benefits and all the employment that will come with it, as we see in Germany.
A lot has been said about regulation, and I echo the welcome my hon. Friend the Member for Streatham (Mr Umunna) gave for measures to provide for a conciliation service that will obviate the need for some employment tribunals; anything that can make easier the complex and sometimes stressful process—for both employee and employer—is to be welcomed. My concerns centre on the resource and funding issue for ACAS that has been raised by a number of hon. Members. Undoubtedly, the Bill places far greater stress on ACAS, giving it a far greater role and far greater responsibilities, but there is no evidence that the resources will be put in place to enable it to match those responsibilities. I would be interested to know whether the Government have done any research on whether this approach will generate more complaints. Undoubtedly, some employees do not take their employer to a tribunal because they would find doing so too stressful. If the option of a conciliation service that avoids the need to go to tribunal is available, that may actually generate more claims. I do not know whether that will be the case, but the Government should examine the matter, particularly in the context of their funding for ACAS.
The proposal for the competition and markets authority is, in general, good, but I have concern about one particular aspect: the offloading of some of the consumer education role of the Office of Fair Trading to Citizens Advice. I have nothing but praise for Citizens Advice, but I am concerned, given the funding cuts it is enduring at the moment, about whether it will be in a position to carry out that sort of additional responsibility in a way that will benefit the community. The Government need to examine that resourcing issue.
I promised that I would not use up all my time, so I shall conclude by saying that although the Bill is not all bad, it totally fails to address the major challenge that is confronting the Government and which the business community wants it to confront. The Bill is symptomatic of a Government who have few ideas, and I suspect that those they do have are being strangled by Treasury orthodoxy. The Government need growth and the country needs growth, but these measures will not deliver it.
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