Oral Answers to Questions Debate
Full Debate: Read Full DebateGreg Smith
Main Page: Greg Smith (Conservative - Mid Buckinghamshire)Department Debates - View all Greg Smith's debates with the Department for International Trade
(4 years, 8 months ago)
Commons ChamberThe hon. Member makes an extremely good point, and that is one of the points of the free port policy. We launched the consultation last month with the Command Paper, and it closes on 20 April. It would not be proper for me to make comments specifically about the location of future free ports, but the Tyne port in particular is very important to this country, as it is the second largest vehicle port in the nation. Free ports are designed to support jobs, trade and investment.
An ambitious United States free trade agreement could boost the economy in the south-east, including the Thames valley, by £622 million in the long run, supporting the growth of key local industries such as professional business services, and automotive and digital businesses. The FTA presents a golden opportunity for the region, which has a thriving trade with America, with the equivalent of £14,000 of goods exported to the US every minute.
The Thames valley is home to many high- tech businesses, not least in the north of my constituency of Buckingham crossing into Northamptonshire at Silverstone Park. Can my right hon. Friend outline the steps he is taking to ensure that we are supporting high-tech businesses at places such as Silverstone Park to grow, prosper and bring global solutions in areas such as low-carbon transport, and that they are at the forefront of our negotiations for a free trade deal with the United States?
May I start by congratulating my hon. Friend yet again on being a brilliant new representative for the Buckingham constituency? The Silverstone technology cluster includes excellent tech and start-up companies such as Advanced Automotive Technologies, Altair Engineering, room44 e-bikes and many more. Those are exactly the kind of companies that we want to see exporting more to the USA and to benefit from fewer hurdles to trade. That is why both sides want an SME chapter in the trade deal.