Oral Answers to Questions

Daniel Zeichner Excerpts

Thursday 9th February 2023 Commons Chamber

[Antony Higginbotham (Burnley) (Con)]

6. What steps her Department is taking to help secure more inward investment into the UK.

[Daniel Zeichner (Cambridge) (Lab)]

13. What steps she is to taking help increase foreign direct investment into the UK.

[Robbie Moore (Keighley) (Con)]

17. What steps her Department is taking to help increase the level of inward investment into the UK.

--- Later in debate ---

[Daniel Zeichner]

The Minister references the life sciences sector, which is so important for future prosperity, particularly in and around Cambridge. We are in danger of falling behind in the race for international investment, as evidenced by the fact that since 2018 we have fallen from fourth to 10th in hosting late-phase clinical trials. What are the Government doing to address that issue?

[Ms Ghani]

On clinical trials specifically, when I was life science Minister we commissioned a review of clinical trials—we knew that was a blockage—but I do not think the data he presents reflects the £1 billion Moderna deal we have just secured, including the deal with biotech. The fact that we have life science missions will enable us to attract more attention and work to the ecosystems we have here in the UK, including in the hon. Gentleman’s constituency. I am more than happy to work with him, because life science is one of our key exports of expertise.

--- Later in debate ---

[Nigel Huddleston]

I respectfully disagree with the hon. Lady’s characterisation that there is insufficient scrutiny, and I respectfully disagree with my right hon. Friend the Member for Camborne and Redruth (George Eustice), who made some comments earlier this year. Last time I answered this question, you quite rightly had a go at me, Mr Speaker, because I gave a long list of examples of extensive scrutiny on our free trade agreements. I will spare the House by not repeating it , but I refer the hon. Lady to the answer I gave previously.

[Daniel Zeichner (Cambridge) (Lab)]

T1. If she will make a statement on her departmental responsibilities.

[The Minister of State, Department for Business and Trade (Nigel Huddleston)]

The Secretary of State for Business and Trade is currently in Mexico, driving forward our negotiations to join the comprehensive and progressive agreement for trans-Pacific partnership and progressing bilateral trade discussions. I am delighted to be representing the Department as the Minister for international trade; I thank my predecessor for his work in delivering the Government’s ambitions, and the former Minister for exports as well.

Just last week, the then Minister for trade policy, my right hon. Friend the Member for Chelsea and Fulham (Greg Hands), held talks with his counterparts in Vietnam, Malaysia and Singapore on trade, outlining the benefits the UK will bring to CPTPP as we look to conclude our accession process. When the UK joins, the bloc will represent 15.4% of global GDP, rising from 12%. Later today, I am meeting ambassadors and high commissioners from all CPTPP countries, where I look forward to discussing how we can enhance their ties with the UK. Our negotiators continue to engage with their counterparts.

[Daniel Zeichner]

International students are of huge benefit to every constituency in this country, not just to university cities such as Cambridge, but different parts of the Government seem to be sending out very different messages as to how welcome they are. Will the Minister tell us what his Department is doing to secure this important trade benefit for the UK?

[Nigel Huddleston]

The Government are always open across multiple Departments to engage constructively with industry and players, and that will continue to be the case. If the hon. Gentleman would like to invite us to have a discussion with him, somebody in his constituency or other stakeholders, we would be delighted to do so. We work with businesses in this party.