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On 14 October 2010, Barry Sheerman asked Vincent Cable, Secretary of State for Bussiness, Innovation, and Skills: "Does the right hon. Gentleman agree that if a green investment bank is to be successful, it must embrace all the science and technology available in our country? Much of that is seated in our great universities-we have over 120-but has he not already sold the pass? There will be substantial cuts in university budgets, which will affect towns, cities and innovation in this country." Vincent Cable, Secretary of State for Business, Innovation and Skills answered: "The hon. Gentleman chaired the Select Committee on Children, Schools and Families for many years, so I am sure he knows that in my statement on Tuesday, I spoke about the implication of the teaching grant for student-graduate contributions. The implications for research remain to be seen till next week."