Events of note
Sunak informs his audience that he wants to hear from businesses about how regulations can be improved to make the UK more innovating.
All of those questions were from journalists. Sunak now takes questions from business leaders at the conference.
Tony Danker goes first. Sunak asks Sunak whether the government believes it has the right tax system to encourage capital investment, skill development, and innovation.
Sunak claims that tax relief has been increased in these areas. He claims that t the super-deduction was unique. It is not possible to find it anywhere else in the world. These matters are being reviewed, he suggests.
Q. Can you agree that the Conservatives are the party for business?
Sunak declares, “Yes, unambiguously.” He claims that the CBI should have known, since Sunak’s time in office, that he was a businessman. He says he will do the same as PM.
Q. Will you increase your investment allowances?
Sunak states that the government has already provided tax incentives for investments.
Q. How will you change the EU’s relations on legal immigration and trade?
Sunak claims he has already covered Immigration.
He stated that he would not agree to a new trade agreement with the EU which would require the UK to follow EU rules.
Under my leadership, the United Kingdom won’t pursue any relationship that is dependent on EU laws.
He claims he voted Brexit. It is already delivering “immensible benefits and opportunities for the nation”, he claims. He gives as an example control over immigration.
Sunak now accepting questions
Q. Will you listen to business demands for looser immigration controls for workers?
Sunak avoids the question and states that people want him to address illegal immigration.
He stated that he would like an immigration system “that is highly competitive for those who are the best and brightest”.
Sunak states that the UK stopped free movement after people demanded control over immigration.
He also stated that he is determined not to allow illegal immigration to continue.
Sunak states that he wants people to have the ability to invent.
As prime minister, there is no greater responsibility than the development of a world-class education system. Giving every child the best possible chance and preparing them for a changing world.
We are asking radical questions about the curriculum because it is essential that young people enter the modern economy with the right skills and knowledge.
Education is my core belief. It is the closest thing to a magic bullet in public policy. It is the most transformative thing we can do to our people.
Sunak also stated that he doesn’t want AI talent in the world to be restricted to America or China.
Sunak now talks about innovation in public services.
He claims he was raised in an NHS family. He says it is in his blood.
He says that the government’s ambitions for the NHS cannot be measured by how much money they spend but rather by the quality and care each patient receives.
He believes innovation is key to better care. He adds that this does not only cover the type of treatment, but also how it is delivered. He continues:
He says that to do this, “we’re opening diagnostic centres in the community to provide millions more tests.”
We need to go even further. Patients should have the ability to choose where and when they want to receive care. We must also provide transparency regarding the performance of our healthcare system to allow patients to make informed choices.
We are also working to ensure that the NHS has the right workforce for the future. We ensure that there are enough nurses and doctors in the right places, and we also think creatively about the new roles and capabilities that will be needed in the healthcare workforce in the future.
Sunak wants small businesses to be innovative too. Small businesses like plumbers and green grocers should have a government that is ambitious.
Innovation is key to growth. He says that we have a plan to do both.
Sunak states that innovation is key to growth. The government must invest in science, research, and education.
He says that the autumn statement contained PS20bn for R&D investment.
He says that private investment is more important than government investments. This is why the government uses the tax system as a way to encourage private investment.
He said that the government would also use its EU freedom for creating a regulatory environment that supports innovations in “sectors like data, life sciences, and financial services”.
Sunak believes innovation is essential to building a better nation.
He stated that he believes innovation should be at the core of all government activities.
To drive economic growth, we must first harness innovation. We must also embed innovation within our public services, particularly our NHS. We must also teach people how to be great innovators.