Oral Answers to Questions

Debate between Greg Hands and James Morris

Thursday 11th January 2018 Commons Chamber

[James Morris (Halesowen and Rowley Regis) (Con)]

8. What steps his Department is taking to support exports by small and medium-sized businesses.

[The Minister for Trade Policy (Greg Hands)]

We have three main ways to support exports by SMEs. First, the great.gov.uk website offers digital tools, and has had more than 2.7 million visitors; secondly, international trade advisers based across England are supporting businesses; and thirdly, UK Export Finance has provided £3 billion in support. Last year it helped 221 UK companies, 79% of which were SMEs.

[Greg Hands]

My hon. Friend asks a good and pertinent question, and that is why UK Export Finance is working to ensure that SMEs can access the insurance that they need to export and invest overseas with confidence. Last year we launched an enhanced overseas investment insurance product to protect UK businesses against political risk when investing abroad, and I strongly recommend that product to companies in my hon. Friend’s Milton Keynes constituency.

[James Morris]

There has been a significant revival of small and medium-sized manufacturing in the Black country over the past two or three years, so does the Minister agree that we need to do all we can to support those small and medium-sized manufacturing companies in the Black country to access markets around the world with development potential?

[Greg Hands]

My hon. Friend makes a good, strong, pertinent point, which applies not just in the Black country but throughout the country. We have our export strategy, which will be reporting in the spring. I remind the House of our fantastic manufacturing figures—record growth in output, the highest in 10 years, growing 4% year on year according to new data just out. Confidence in manufacturing is at its highest in four years, according to the EEF.

Oral Answers to Questions

Debate between Greg Hands and James Morris

Tuesday 7th June 2016 Commons Chamber

[The Chief Secretary to the Treasury (Greg Hands)]

I totally agree with the hon. Gentleman that we need to get on with income tax devolution. I will be having further meetings with the Welsh Government to ensure that we do that. At the same time, we need to look at questions such as how to adjust the block grant, which of course will depend on what is devolved and when. We have also set the funding floor at 115% for the duration of this Parliament.

[James Morris (Halesowen and Rowley Regis) (Con)]

The black country economy in the west midlands has been one of the fastest growing sub-regions in the UK over the past few years, with new jobs and investment. Does the Chancellor agree that we need to continue to focus on investing in growth in the black country and avoid the economic risk that would come from us leaving the European Union?