Oral Answers to Questions

Debate between Bill Esterson and David Rutley

Tuesday 13th June 2023 Commons Chamber

[Bill Esterson (Sefton Central) (Lab)]

13. What assessment he has made of the impact of the US Inflation Reduction Act on the UK’s relationship with the US.

[The Parliamentary Under-Secretary of State for Foreign, Commonwealth and Development Affairs (David Rutley)]

The US and UK Governments do more together than any other two Governments in the world. We have a trading relationship worth £280 billion, and last week the Prime Minister was in Washington when he and President Biden signed the Atlantic declaration, a first-of-its-kind economic partnership.

[Bill Esterson]

The Inflation Reduction Act is attracting investment from the UK to the US, as industry groups across our economy are saying. Does the Minister agree that the refusal to publish an industrial strategy shows there will be no made in Britain plan in response to President Biden’s made in America agenda while this Conservative Government remain in office?

[David Rutley]

Well, that is an interesting question, to which I say that we have a very clear economic strategy, and the Atlantic declaration is a very important element in strengthening our partnership with the US. The beginning of the negotiations on critical minerals will make sure UK companies are eligible for tax credits under the US Inflation Reduction Act; this is a hugely important and positive step forward.

Oral Answers to Questions

Debate between Bill Esterson and David Rutley

Tuesday 14th March 2023 Commons Chamber

[Bill Esterson (Sefton Central) (Lab)]

T9.   A loophole in the sanctions regime means that Russian steel is rolled in countries such as Turkey and then imported to the UK. The Foreign Secretary will know that the UK is the only country in the G20 where steel production is declining, and our domestic steel production is essential to our support for Ukraine. Will he follow the lead of the EU, which is closing the loophole in the regime, and tell us when the UK will also close the loophole?

[David Rutley]

There was a lively debate on this in Westminster Hall last week. I can confirm that our sanctions regimes are under constant review, and our enforcement activity at His Majesty’s Revenue and Customs in particular will be focused on these issues.