Oral Answers to Questions

Debate between Lord Willetts and Karen Lumley

Thursday 23rd January 2014 Commons Chamber

[Mr Willetts]

My hon. Friend is absolutely right. We are, of course, an open economy and we export and welcome companies from abroad that invest here, but we can do more to support our supply chains so that more prime manufacturers in Britain also purchase from SMEs across the country. Indeed, I remember visiting the company to which he refers. It is an excellent example of what we are talking about.

[Karen Lumley (Redditch) (Con)]

T1. If he will make a statement on his departmental responsibilities.

Oral Answers to Questions

Debate between Lord Willetts and Karen Lumley

Thursday 8th November 2012 Commons Chamber

[Karen Lumley (Redditch) (Con)]

3. What assessment he has made of the effect of the business Olympics on exports and inward investment.

[The Minister for Universities and Science (Mr David Willetts)]

Over 4,000 business leaders and others attended 17 business summits at the British business embassy at Lancaster House. Every one was attended by a BIS Minister. I was very pleased to attend five, which were excellent events. We expect them to generate £1 billion of additional sales by UK companies, and £6 billion of direct investment over the next four years.

[Karen Lumley]

Wild Automotive, a great company in Redditch, has increased export sales by 73% over the past two years. What more help can this company and others in Worcestershire access to continue this great record of growth?

[Mr Willetts]

I congratulate that company on its performance. UK Trade & Investment is running export week in the next week, with more than 100 events throughout the UK, which is a great opportunity for businesses to get further advice about exporting. The automotive sector, of which the company in my hon. Friend’s constituency is an example, is now running its first balance of payments surplus since 1975.