Oral Answers to Questions

Debate between Gareth Davies and Chris Bryant

Thursday 29th January 2026 Commons Chamber

[Gareth Davies (Grantham and Bourne) (Con)]

We know that some British businesses are put off exporting by the costs, particularly the cost of cross-border payments. One solution is the adoption of innovative digital payment methods, which is why I warmly welcomed the Government’s announcement of the transatlantic taskforce for markets of the future. However, since its announcement last September, we have not had a great deal of detail on it from the Government, so will the Minister provide an update on the status of the taskforce and what he hopes it will achieve for our exporters?

[Chris Bryant]

I will certainly write to the shadow Minister about that. Electronic commerce generally is one thing that we will need to address at the World Trade Organisation ministerial conference in Cameroon at the end of March. There has been a moratorium on tax in relation to that, and we would like to make it permanent—we are discussing that with our international allies.

On exports, I was at Fever-Tree on Monday morning. Its adverts used to say, “If three quarters of your gin and tonic is the tonic, why on earth do you not care about the tonic?” [Interruption.] I note that several Members are querying whether three quarters of their gin and tonic is the tonic—it might be 50:50, or even the other way around. The point is that many really successful businesses in this country, including Fever-Tree, know that three quarters of their business can be exports. That is what we need to drive up.

[Gareth Davies]

I thank the Minister for that response. This is an area that we genuinely agree on. Digital payment technology will genuinely provide an opportunity for British exporters, so I gently ask the Minister to get on top of the detail on that taskforce and provide an update as soon as he can. We asked DBT Ministers last June exactly what the Government’s strategy on digital payment technology was. We were promised that it would be part of the industrial strategy, but it was missing. Can he explain why?

[Chris Bryant]

The Under-Secretary of State for Business and Trade, my hon. Friend the Member for East Renfrewshire (Blair McDougall), has just whispered in my ear that he met the main providers in this area only a couple of weeks ago. As I say, I will write to the hon. Member with some more detail. Some of these issues are difficult to land because of the international co-operation needed. I am pleased that in some of our trade deals we are talking about not just goods and services but ensuring a digital element, because that is where a lot of our economic future lies.