division_name: Enterprise and Regulatory Reform Bill
motion: <p class="" pid="b.64.3/1" pwmotiontext="yes">I beg to move, That the Bill be now read a Second time.</p>
  
  <p class="" pid="b.64.3/2" pwmotiontext="yes">I recognise that we face serious competition this afternoon, but let me begin by putting the Bill in the wider economic context. Our economic strategy has two key elements, one of which is to maintain a credible fiscal policy. That policy has led to this country&#8217;s borrowing costs dipping to record lows in recent weeks. If we were without a believable deficit reduction strategy, we would have been forced to adopt one by market panic. Although fiscal credibility is necessary, it is not sufficient. A lasting recovery has to be built on the back of sustainable sources of demand and, above all, exports and stronger business investment. We are seeking to bring that about in extremely difficult international conditions, though some encouragement can be derived from the fact that 630,000 private sector jobs have been created in the past two years&#8212;almost twice the number lost in the public sector.</p>
  
  <p class="" pid="b.77.2/1" pwmotiontext="yes">I beg to move,</p>
  
  <p class="" pid="b.77.2/2" pwmotiontext="yes">That this House, whilst supporting the principles of the Green Investment Bank and affirming its belief that active government should work in partnership with business to encourage long-term sustainable economic growth, facilitate enterprise, protect the rights of all, particularly low-paid, workers and simplify regulation where necessary, declines to give a Second Reading to the Enterprise and Regulatory Reform Bill because it does not provide a strategy for economic growth; believes that the Bill contains inadequate measures to boost business confidence, enhance this country&#8217;s international competitiveness, increase competition in consumer markets or protect consumers from powerful vested interests; further believes that the Bill fails to provide sufficient support to empower shareholders, investors and employees on executive remuneration to bring to an end excessive rewards for corporate failure; and is concerned that the Bill grants the Secretary of State additional powers to alter compensatory awards for unfair dismissal and contains provisions relating to the conciliation process that could dilute the rights of people at work.</p>
  
  <p pid="b.131.4/1" pwmotiontext="yes"><i>Question put, </i>That the amendment be made.</p>
  
  <p class="italic" pid="b.131.4/2" pwmotiontext="yes">The House divided:</p>
  
  <p pid="b.131.4/3" pwmotiontext="yes">Ayes 216, Noes 301.</p>