(5 years, 1 month ago)
Commons ChamberI am grateful to my hon. Friend—no one in the House works harder to promote their area than him. Freeports offer an opportunity to unleash enterprise. We want to set forth all the principles and wealth creation that the Labour party stands against, and to allow my hon. Friend’s constituents, and the communities he represents, to prosper and grow through free enterprise, and we will carry on doing that.
The Prime Minister has suggested that there would be about six freeports. What assessment has the Minister made of the impact that that would have on ports that are not chosen to be freeports?
The hon. Lady makes a serious and important point. We are working hard and closely with our Treasury colleagues and others to ensure that we design the policy in the right way so that we minimise displacement and bring in additional activity and prosperity. We do not expect, and we will not design, a system that will damage those ports that do not become freeports.
(5 years, 9 months ago)
Commons ChamberThe Secretary of State recently led more than 100 innovative tech companies to CES, the world’s biggest trade show. The US is of course our largest trading partner and our largest overseas investor. As my hon. Friend rightly points out, there are real opportunities, which is why one of the first priorities on free trade agreements is one with the US.
The Environmental Audit Committee has just started an inquiry into the role of UK Export Finance. We pledge to meet climate change targets at home, so why is it that nearly every penny of support for energy projects overseas goes on fossil fuels?
I do not think that that is accurate, but I do not have the exact numbers to hand. UK Export Finance is there to support UK business in meeting demands and needs as requested by overseas companies and, indeed, countries. I make no apology for saying that UKEF is there to try to promote that, and it has played a role in funding renewable technologies. Our record on that front is good worldwide.
(6 years ago)
Commons ChamberIt is unfortunate, as was shown by the previous vote, that the Labour party always puts politics ahead of the interests of ordinary people working in the automotive industry across this country. We are seeing more and more investment in this country, with the announcement of a major investment by McLaren in Sheffield only yesterday. Let us not play politics. Let us get the deal over the line and protect our growing and strong automotive industry.