Situation in the Red Sea

Greg Smith Excerpts

Monday 26th February 2024 Commons Chamber

[Grant Shapps]

I will certainly look into that for the hon. Member, but I would have thought that Israel uses UK airports for the purposes of flying El Al and other airlines to this country.

[Greg Smith (Buckingham) (Con)]

I welcome my right hon. Friend’s statement, and I support the necessary actions of self-defence to secure freedom of navigation in the Red sea. However, to keep the whole country on the same page and to understand the importance of this, I note that while the purpose of the actions is first and foremost to protect the people—the seafarers and the military personnel—on those vessels, the economic impact globally is huge, as has been referenced. Businesses are reporting to me a threefold or fourfold increase in shipping costs, which of course we will all pay for at the tills. In conjunction with the Treasury and the Department for Business and Trade, has my right hon. Friend made an assessment of the magnitude of the figure that the challenge to freedom of navigation in the Red sea is causing to our economy and the global economy?

[Grant Shapps]

My hon. Friend is absolutely right that this has a cost not just to business or industry, but to households in this country. It will come straight through to the bill for the weekly shop, which is why it is so important that we do not allow these attacks to go unchallenged and that we make sure we degrade the ability for them take place. He asked about the ongoing assessments by the Department for Business and Trade and the Treasury, and provided some data from his own knowledge about the increased shipping costs. Shipping is typically not an enormous part of the cost of each individual item people buy in the supermarket, but of course over a period time, that will have a negative impact, which is why it is important to make it clear that freedom of navigation is sacrosanct and that we will always take action if it is affected in any way, shape or form.