Oral Answers to Questions

Anne-Marie Trevelyan Excerpts

Thursday 23rd November 2017 Commons Chamber

[Luke Graham (Ochil and South Perthshire) (Con)]

8. What steps his Department is taking to promote to British companies the use of UK Export Finance.

[Mrs Anne-Marie Trevelyan (Berwick-upon-Tweed) (Con)]

13. What steps his Department is taking to promote to British companies the use of UK Export Finance.

[The Parliamentary Under-Secretary of State for International Trade (Mark Garnier)]

We are putting export finance at the heart of trade promotion by enhancing the financial support available to exporters and smaller companies in their supply chains. This is a new guarantee to banks designed to increase liquidity in the supply chain, improving exporters’ access to capital and enabling their suppliers to fulfil new orders. As my right hon. Friend the Chancellor stated yesterday, UK Export Finance will launch a targeted campaign to promote the support they offer to exporters and overseas buyers, as part of the wider GREAT campaign.

[Mark Garnier]

In the few short months my hon. Friend has been a Member, he has proved a doughty campaigner for the whisky industry and the agricultural industry in his patch, and I would be delighted to come along and visit him. I would point out that the Board of Trade has been established across the whole country to promote the interests of regions. We have regional international trade advisers, and they work through the Scottish Government, fully supported by the Department for International Trade.

[Mrs Trevelyan]

Berwick-upon-Tweed, Alnwick and Amble now have innovative high-tech software businesses designing unique products that have serious global market potential. Can the Minister confirm that these businesses will be able to access UK export finance to reach into new countries, boost British exports and bring new high-tech jobs into my constituency? He is, of course, welcome to stop off on his way to Scotland.

[Mark Garnier]

I would love to go to Berwick-upon-Tweed, and I cannot wait to go. It is absolutely right that UK Export Finance has introduced a number of measures, including passing delegated powers to the high street banks to offer up to £2 million of export credit. It is important that we recognise that this resource is vital to financing exports. My hon. Friend will know from the recent briefing session we held for Members of Parliament that we are keen to engage with all Members of Parliament to see how UK Export Finance can help their constituents.

--- Later in debate ---

[Justine Greening]

I am aware of that work. Part of the challenge is that we need to see much more clearly the broader picture in relation to how Budgets and Government decisions affect BAME women. The analysis that the hon. Gentleman mentions does not take into account the impact of the national living wage, the changes we have made to childcare—introducing 30 hours’ free care—the work that we are doing on reducing the gender pay gap, the introduction of shared parental leave or the introduction of increased flexible working. The Institute for Fiscal Studies has been very clear that

“what is possible falls a long way short of a full gender impact assessment”,

and that is the underlying weakness in the analysis.[Official Report, 18 December 2017, Vol. 633, c. 4MC.]

[Mrs Anne-Marie Trevelyan (Berwick-upon-Tweed) (Con)]

Does the Minister agree that the welcome announcement in the Budget yesterday of £600 per pupil towards the study of maths at higher than GCSE level will be of huge benefit for BAME women, and women across the board, because many studies show that women with higher science, technology, engineering and maths qualifications can earn up to 20% more?

[Justine Greening]

My hon. Friend is absolutely right, and this has been a focus for the Government for the past seven years. The next steps were announced yesterday, with the £600 extra for young people enrolling on such A-levels, alongside a commitment to have more transparency on the STEM A-level subjects that girls are taking, so that we can really focus on gender disparities and seek to address them. It is probably worth pointing out that maths A-level has been the most popular A-level in our country since 2013, which shows that although we have a long way to go, this Government are already making a difference in successfully encouraging young people to take maths.