Oral Answers to Questions

Debate between Philip Hollobone and Robert Jenrick

Tuesday 9th April 2019 Commons Chamber

[Robert Jenrick]

If the right hon. Gentleman wants to support this country’s manufacturing sector, he and his colleagues should support a deal so we can leave the European Union in an orderly fashion. We are taking a number of important steps to support manufacturing, including increasing the annual investment allowance from £200,000 a year to £1 million, making research and development tax credits more generous, and backing schemes such as “Make Smarter”, which help the manufacturing sector to embrace automation and digital technology and move forward with confidence.

[Mr Philip Hollobone (Kettering) (Con)]

Can the Minister confirm that, despite the Brexit uncertainty, Britain remains the second best country in the whole world for foreign direct investment?

[Robert Jenrick]

I can confirm that. The UK remains the European leader for foreign direct investment, venture capital investment and tech investment. Even in manufacturing, which is under a certain degree of strain, the UK remains the ninth largest manufacturing nation in the world.