(8 years ago)
Commons ChamberOver the summer, I met Senator Orrin Hatch, one of the co-authors of the Congress resolution calling for a future US-UK free trade agreement. We strongly welcome the support right the way across Congress on our future trade relationship with the United States. As for the President-elect, I suggest we wait to see his actions. He did say during different campaign events:
“Trade has big benefits, and I am in favour—totally in favour—of trade…Isolation is not an option. Only great and well-crafted trade deals”.
We look forward to working with him in the future.
What consideration has the Department given to the President-elect’s views on the Trans-Pacific Partnership?
In a very general sense, the UK remains supportive of trade deals, right the way across the globe, that reduce or remove trade barriers—tariff barriers or non-tariff barriers—to help facilitate the flow of international trade.
(8 years, 8 months ago)
Commons ChamberThe hon. Lady is right in saying that there is an issue in relation to productivity in this country, but there is an issue across all major developed economies. Over the past year, productivity growth in this country was about 1%, which compares with 0.9% across the G7. On specific measures, we have established the National Infrastructure Commission, protected science funding at the Budget and spending review, introduced the Housing and Planning Bill, announced the apprenticeship levy, which is coming in, and announced a £100 billion infrastructure programme over the course of this Parliament.
Does the Chief Secretary to the Treasury agree that, by being a member of the European Union, this country benefits hugely from a cross-fertilisation of good ideas across the European Union, the supply chain, and foreign direct investment at 50%? Our trade, too, also benefits from our being in the single market—[Interruption.]
(9 years, 6 months ago)
Commons ChamberI thank you, Mr Speaker. Welfare savings will be set out in due course. I remind the hon. Lady that we all need to confront the deficit and do something about it, and I hope that creates cross-party support.
Does the Chief Secretary agree that the key part of reducing the deficit is the long-term economic plan, and that it rests on the provision of additional skills for our manufacturing sector, which in turn will drive up opportunities for young people?