Trade Balance

Debate between Lord Stoneham of Droxford and Lord Livingston of Parkhead

Thursday 11th December 2014 Lords Chamber

[Lord Livingston of Parkhead]

The north-east, indeed, is one of our manufacturing powerhouses and is part of the UK that actually has a trade surplus with the rest of the world. The Nissan factory is producing more cars than the whole of Italy. I recognise that a number of exporters wish to remain in the EU but I also recognise that they wish to remain in a reformed EU—and that is what we on this side of the House are fighting for.

[Lord Stoneham of Droxford]

At the start of this Government, only 30% of components in our successful car manufacturing sector were sourced in the UK. Can the Minister tell us how the Government’s industrial strategy has been seeking to improve this performance?

[Lord Livingston of Parkhead]

The Government’s industrial strategy brings together academia, the Government and also businesses in producing a long-term commitment to the next generation of technologies and industries. I know that the motor vehicle industry in particular welcomes this. I mentioned earlier the Reshore UK proposal. These things together are helping significantly, both with companies coming back to the UK and, for instance, companies such as Gestamp, a Spanish company that recently announced a significant investment in the UK.

Exports

Debate between Lord Stoneham of Droxford and Lord Livingston of Parkhead

Wednesday 8th January 2014 Lords Chamber

[Lord Livingston of Parkhead]

That is an excellent point. I commend the ambassadorial network; I have seen its work both as a Minister and as an exporter. Its enthusiasm and positivity to assist the UK in increasing exports is to be commended. In fact, the work of the FCO and its focus on our export efforts has been excellent. We will continue to work very closely; of course, as a Minister I am part of FCO as well as being part of BIS, and that reflects the important role that the Foreign Office has in exports.

[Lord Stoneham of Droxford (LD)]

The Government have set out a system of trade ambassadors to promote exports in particular countries, involving a number of Members of this House. Has an assessment been made of the effectiveness of this system and initiative, and what plans are there for its future expansion?

[Lord Livingston of Parkhead]

Trade envoys have been established to assist in countries to which government Ministers do not make regular visits. I commend the various Members of the House who act as trade envoys and thank them for their hard work. We are reviewing the success of the trade envoy programme, and how we could perhaps expand it slightly into new areas. When it works well, it is certainly helpful. We combine enthusiasm, expertise and knowledge in particular countries to assist us in increasing our overall exports and relationships with those countries.