(9 years, 11 months ago)
Commons Chamber3. What steps she is taking to promote business investment in Northern Ireland.
May I first thank you, Mr Speaker, Opposition Front Benchers and the House for your indulgence in allowing the Secretary of State to be absent, exceptionally, today? As you know, she is chairing the extremely important talks at Stormont, and we hope that they will come to a satisfactory conclusion very soon. She takes her duties in this House very seriously, as you know, and she is grateful to you for your indulgence today.
The Government’s long-term economic plan is working for Northern Ireland, and the UK Government continue to work with the Executive to promote Northern Ireland as a great place to invest. Political stability is paramount in attracting further investment, and I encourage the parties to make significant progress in the current cross-party talks.
The Chancellor has expressed our desire to devolve that power to the Executive, and the Executive are keen to take it on. The extent to which it will impact on the Northern Ireland economy is of course a matter for the Executive—as is the level at which they wish to pitch corporation tax, once devolved—but they have suggested that up to 40,000 jobs might be created in Northern Ireland by having the power. It is particularly important for encouraging the private sector. As my hon. Friend will know, we are trying with the Executive to rebalance the economy so that the private sector is encouraged, and the devolution of corporation tax is an important part of that.
Does the Minister agree that the Government’s key extra measure of focusing on skills and making sure that people are properly trained, coupled with business investment, is precisely the way to improve productivity and therefore living standards?
I absolutely agree. My hon. Friend will have noted that the changes to national insurance in particular in the autumn statement are very much focused on getting young people into employment. The national insurance rebate is extremely helpful for small business in particular. He will have read with pleasure, as I have, the list of firms that are increasing their presence or investing for the first time in Northern Ireland. It is truly impressive, and it just shows what a great place Northern Ireland now is in which to invest.
(11 years, 10 months ago)
Commons Chamber12. What discussions he has had with his ministerial colleagues on the shift in US defence policy from the Atlantic to the Pacific.
Regular discussions on defence policy, including US defence strategy, occur with Ministers both at home and abroad. The Defence Secretary will, for example, meet Secretary Panetta later this month and looks forward to meeting his successor at the earliest opportunity.
When the Defence Secretary meets Chuck Hagel or anyone else who might have been ratified, will he discuss what measures can be used to encourage collaboration so that we can maximise the assets available at the organisation?
My hon. Friend is absolutely right. We need to make sure we make the best we can out of assets that are under increasing pressure. I note that President Obama’s guidance issued on 5 January last year, “Sustaining US Global Leadership”, set the scene for how US defence is likely to go. I am particularly pleased to see a high degree of correlation between that and our own strategic defence and security review outcomes. We are close to the Americans, and we look forward to the relationship continuing and developing in the future, as they are, as it were, our best friends.