Trade: Import Substitution

Lord Barnett Excerpts

Wednesday 19th March 2014 Lords Chamber

[Viscount Younger of Leckie]

Manufacturing remains the most important part of what we do in the UK. UKTI has joined forces with the Manufacturing Advisory Service to relaunch Reshore UK, which will be a new, one-stop-shop service to help companies bring production back to the UK. This will give greater reassurance to hard-working people that there is increasing job security and a better plan for them to make for their families for the future.

[Lord Barnett (Lab)]

My Lords, do the Government have a case that the Minister could tell the noble Lord, Lord Vinson, about for substituting more expensive and worthless UK products for good cheap products that are coming in?

[Viscount Younger of Leckie]

It is fair to say that imports are also important for the UK. It is not just exports. The balance has to be right.