Oral Answers to Questions
Debate between Graham Stuart and Desmond Swayne(5 years, 6 months ago)
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Graham Stuart
The UNCTAD figures that measure foreign direct investment showed the UK moving above the United States into third in the first six months of this year, but the hon. Gentleman is entirely right to say that they include intra-company loans. Any figures around flow should be treated with caution; the most important thing is the stock of foreign direct investment in this country. As my hon. Friend the Member for Kettering (Mr Hollobone) said, if we had listened to some, we would have expected divestment. There was no divestment; there were increases in investment. In the last year, if I may deal with what is most important to me and my constituents, there were 75,000 new jobs created by foreign direct investment.
Sir Desmond Swayne (New Forest West) (Con)
Oral Answers to Questions
Debate between Graham Stuart and Desmond Swayne(5 years, 11 months ago)
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Graham Stuart
Of course, the Trade Bill is fundamental to the continuity of existing EU trade deals. It puts in place the framework to allow us to move them over from the EU to the UK. Labour failed earlier this week to support jobs, and it has repeatedly voted against the very Bill that would allow us to ensure continuation of trade.
Sir Desmond Swayne (New Forest West) (Con)
Our exports will be more likely to prosper if reciprocal trade is not met with a common external tariff, will they not?
Graham Stuart
What my right hon. Friend is absolutely right about is that there will be real opportunities for the UK when it leaves the EU. The appetite throughout the world is first for continuity, but among so many of our existing trade partners there is also a real desire to deepen that relationship and thus support British exports in a way that, sadly, the shadow Secretary of State seems signally not to do.