Oral Answers to Questions

Alberto Costa Excerpts

Wednesday 30th November 2016 Commons Chamber

[Alun Cairns]

Our negotiations with the EIB will run in parallel with our negotiations with the European Commission. The hon. Lady has a responsibility to try to instil confidence in investment in Wales, not to undermine it. Only last week, the Chancellor announced a further capital injection of £436 million. I would hope that the hon. Lady would want to welcome that, not undermine investment, employment and jobs—it really does not become her.

[Alberto Costa (South Leicestershire) (Con)]

4. What assessment he has made of recent trends in the level of inward investment in Wales.

[The Parliamentary Under-Secretary of State for Wales (Guto Bebb)]

Wales is an attractive destination for overseas investment, and the UK Government remain committed to providing certainty and stability for businesses in Wales. Our country has a tremendous opportunity to forge stronger relations with international partners. I am passionate about selling Wales to the world and continuing to increase global investment in Wales.

[Alberto Costa]

Does my hon. Friend agree that recent announcements of investment in Wales, such as the F-35 global repair and maintenance hub in north Wales, represent a vote of confidence in the UK’s economy as a whole?

[Guto Bebb]

I could not agree more. Such investment is welcome, and I pay tribute to the Secretary of State for Defence for his part in ensuring that that investment came to north Wales. North-east Wales is an engineering powerhouse in the UK economy, and the investment in the F-35 project is welcome and further enhances engineering opportunities for young people in north-east Wales.