Oral Answers to Questions

Greg Smith Excerpts

Thursday 15th December 2022 Commons Chamber

[Andrew Bowie]

I congratulate my hon. Friend on his work not only as the MP for Waveney but as the chairman of the all-party parliamentary group on the British offshore oil and gas industry. He is well apprised of what we are doing in the energy sector. DIT and the Office for Investment work directly with project leads, investors and financial institutions, and we are seeing excellent progress. For example, ScottishPower is investing £2.5 billion in its East Anglia ONE project, the first of four in the region, including a £25 million state-of-the-art operations and maintenance facility in Lowestoft. Events such as the recent green trade and investment expo in Gateshead, which I mentioned, are showcasing UK opportunities to the world in many technologies, such as carbon capture and hydrogen.

[Greg Smith (Buckingham) (Con)]

Exports such as squid from the Falklands are an enormously important part of the economies of our overseas territories and Crown dependencies. Can my right hon. Friend assure me that everything possible is being done to support the trading relationships of this important part of the British family?

[Kemi Badenoch]

We work closely with the Crown dependencies and overseas territories to ensure their interests are actively represented in our FTA programme and trade negotiations. DIT officials have fortnightly contact with them, and the Minister for Trade Policy has recently engaged with them and will continue to do so.

Oral Answers to Questions

Greg Smith Excerpts

Thursday 3rd November 2022 Commons Chamber

[Greg Hands]

I first joined DIT six and a half years ago, and I cannot remember how many times I have had to say from this Dispatch Box that nothing in any free trade agreement alters or reduces UK food and animal welfare standards—that is absolute. The hon. Gentleman talks about our desperation for trade deals, but I would like to see the Scottish National party break the habit of a lifetime and support a trade deal, negotiated by either Brussels or the UK. It is about time he broke his duck and supported one of them.

[Greg Smith (Buckingham) (Con)]

We heard earlier about our great success in opening up new beef and lamb markets around the world. Earlier this year the Government backed a strategy launched by the NFU to increase agricultural exports by 30% through a 10-point plan. Will the Secretary of State confirm that the Government will continue to work with the NFU to land that 10-point plan to grow British agricultural exports?

[Kemi Badenoch]

Yes, I am very happy to continue working with the NFU. We, of course, have our own 12-point export strategy plan; I am sure that there is a lot of overlap between the two, but we are all trying to get to the same place, and I am happy to reassure my hon. Friend on that.

UK-Israel Trade Negotiations

Greg Smith Excerpts

Thursday 20th January 2022 Westminster Hall

[Greg Smith (Buckingham) (Con)]

It is a pleasure to serve under your chairmanship, Mr Paisley. It is an equal pleasure to follow my hon. Friend the Member for Southport (Damien Moore), who delivered a powerful speech that I entirely endorse, particularly those parts towards the end of his remarks about the dangerous nature of those who seek to boycott Israel in trade, which has a knock-on impact on peace, people’s jobs and prosperity. I also congratulate my hon. Friend the Member for Harrow East (Bob Blackman) on securing the debate and on setting out the case so eloquently and powerfully at the start of it. The facts and case studies that he outlined speak for themselves.

Israel has cemented itself as a major economic partner of our United Kingdom and is on an upward trajectory, and a more extensive trade deal between two of the world’s most technologically advanced economies will reap enormous benefits for both nations as well as the wider world. We have heard how omnipresent Israeli-made technology is in our day-to-day lives in the United Kingdom, and I was interested to learn recently that many of the banking transactions made by customers online or via smartphones are protected by Israeli-made software running in the background. From digital printers to USB sticks—they might seem like old hat now—and car safety cameras, Israelis have played a huge role in the rapid advancement of our digital economy and digital society in recent decades. Tesco recently opened its first fully autonomous store in London after partnering with the Israeli company Trigo, which uses computer vision technology and advanced artificial intelligence algorithms to enable shoppers to choose their items and leave without having to stop at the tills, providing a seamless experience and saving time. I look forward to visiting Israel in the near future to see for myself more of the exciting technologies and the companies, scientists and innovators behind them.

Now that we are free of the European Union, the opportunity afforded to us to become a proud free-trading nation, with one of the world’s largest and most forward-thinking economies, must not be wasted. I join hon. Members of different parties who have spoken in the debate—I notice that the hon. Member for Strangford (Jim Shannon) has left the room, but I endorse his speech as well—in urging the Government to make concerted efforts to secure the much-anticipated deal with Israel as early as time affords.

Tourism should be an important consideration for the trade talks ahead. Prior to the pandemic, Israel was establishing itself as a go-to destination for many Brits, and the UK remains ever popular with tourists from Israel. Travel between the countries has become so popular in recent years that we have seen the likes of Virgin Atlantic open a route, Wizz Air about to expand its number of flights to Israel, and Israel become one of easyJet’s busiest routes.

I join other speakers in welcoming the important work of the UK-Israel tech hub, which connects businesses in both countries, but there is so much more that can be done to support British companies seeking to increase their presence in Israel. As I conclude my remarks, I ask the Minister what action he is taking to explore those further ways to expand this market and to support British businesses in my constituency and beyond to partner with Israeli companies. I am extremely optimistic about this unique opportunity for our two countries to negotiate an ambitious and wider free trade agreement that looks to the future. I look forward to hearing from the Minister when he expects the consultation to begin.

UK-Australia Free Trade Agreement

Greg Smith Excerpts

Wednesday 5th January 2022 Commons Chamber

[Anne-Marie Trevelyan]

The Trade and Agriculture Commission is a group of independent experts who will review in detail the agricultural elements of the deal. I look forward to receiving its report, whence I will draw up my section 42 report and bring it to Parliament.

[Greg Smith (Buckingham) (Con)]

New free trade deals are incredibly important for securing the future prosperity of our country, and I congratulate my right hon. Friend and all involved on securing this one. Agriculture is enormously important in my constituency, and I know that farmers will be reassured by her clear statement that all imports from Australia will have to meet our existing food standards. Although she gave very low numbers of current imports from Australia, can she reassure the House that her Department will do everything humanly possible to bang the drum for British farmers to get more of our world-class produce to Australia?

[Anne-Marie Trevelyan]

We want to see our fantastic British produce sold around the world, including to Australians. As I mentioned, our teams working in the UK and around the world are there to help our farmers and those who want to sell British produce into those markets.

Agricultural Exports from Australia: Tariffs

Greg Smith Excerpts

Thursday 27th May 2021 Commons Chamber

[Greg Hands]

It is always good to hear from the hon. Gentleman. I noticed in his series of questions that there was, for example, no mention of the £113 million-worth of Scotch whisky sold into Australia at present that is subject to 5% tariffs. Australia is actually the eighth largest market by volume for Scotch and has been growing at 7% per annum. There was no mention of the opportunities for Scottish financial services, FinTech or agrifood more generally—we actually have an agrifood trade surplus with Australia.

The hon. Gentleman quotes NFU Scotland, which has great people. I have met Martin Kennedy personally twice in the last week, as well as the Scottish Government to discuss the prospect of this deal.

Let me reiterate: there will be no change in our standards as a result of this trade deal. We are absolutely committed to no compromise on our animal welfare, food safety or environmental standards.

The hon. Gentleman asked me to rule out tariff-free access to Australian agricultural products. There already is tariff-free access through an autonomous tariff rate quota. I think he seeks a rolling back of the trade arrangements we already have with Australia.

The hon. Gentleman asked about ISDS. It is a live negotiation, and there will be a chapter on investment. We are huge investors in each other’s markets, and I remind him that the UK has never lost an ISDS case.

However, the hon. Gentleman has serious questions to answer, too. Never in 20 years has the SNP supported any trade deal done by the UK or even by the EU, even though key sectors of the Scottish economy, such as whisky, apparel and fisheries, are dependent on our trade. SNP Members voted for a no-deal Brexit. They voted against deals with our friends, such as Canada, South Korea and South Africa. They did not support deals with Japan or Singapore. Whatever assurances I have given him today, or whatever turns out to be in the deal, I do not think it would make him and the SNP support this deal. When it comes to trade, the SNP is isolationist and against the best interests of Scotland.

[Greg Smith (Buckingham) (Con)]

With the proposed free trade agreement with Australia potentially removing tariffs on all UK exports to Australia, does my right hon. Friend agree that that will save businesses across the United Kingdom millions of pounds—including in Buckinghamshire—support jobs across the nation, boost exports on products such as whisky, gin, cars and cheeses, and bring huge benefits to our agriculture sector?

[Greg Hands]

I know how important my hon. Friend’s agriculture sector is in Buckingham, and I can say that the deal we are trying to secure will be very beneficial to exporters of whisky, biscuits, cars, cheese, apparel, ceramics and gin, including gin makers in his constituency such as Foxdenton, Bucks Brothers and Butlers Cross.

Oral Answers to Questions

Greg Smith Excerpts

Thursday 19th November 2020 Commons Chamber

[Graham Stuart]

The hon. and learned Lady is quite right; there are a lot of challenges. That is why, across Government, we have been making such an effort to work with other Departments to make sure that we do everything possible to inform business and to facilitate the border, including investing hundreds of millions of pounds in improving customs processes and others.

[Greg Smith (Buckingham) (Con)]

  If she will make a statement on her departmental responsibilities.

[The Secretary of State for International Trade (Elizabeth Truss)]

Last week, we announced that the UK will be continuing our trade preferences scheme for developing countries in 2021. It is important that developing countries continue to receive the same market access under our unilateral trade preferences as they do at the moment. We remain firmly committed to the principle that trade helps to lift the poorest out of poverty, and early next year we will be launching a consultation on how we can improve the preference scheme and help to use trade as a tool for development. We will aim to have the new scheme finalised by the end of 2021.

[Greg Smith]

With all our minds on both the health and economic recovery from the covid pandemic, may I ask my right hon. Friend what discussions she has had with her Israeli counterpart to further trade co-operation beyond the continuity deal, not least given the incredible and ground-breaking Israeli innovations to combat covid-19, such as through remote monitoring of patients and thermal scanning?

[Elizabeth Truss]

My hon. Friend is right. It is vital that we use trade as a way of motoring growth post this terrible covid crisis. We are working on negotiating a cat’s cradle of trade deals around the world to support British business. Of course, Israel is one of those priorities. It is very advanced in areas such as data and digital. There is strong scope for a world-leading agreement, and we are in discussions about that.

Continuity Trade Agreements: Parliamentary Scrutiny

Greg Smith Excerpts

Tuesday 17th November 2020 Commons Chamber

[Greg Hands]

I thank the hon. Lady for that question. As I have already said, we are in a good position with Canada. I am confident that we will be getting a deal. I saw those comments by the Canadian Prime Minister, whom I greatly respect. The only other person I have seen make those comments is Winston Peters, the leader of the New Zealand First party. I see it sometimes from the negotiating teams opposite; we need to take what they say in a live negotiation with a pinch of salt.

[Greg Smith (Buckingham) (Con)]

I congratulate my right hon. Friend on the progress that has been made on the continuity agreements that are so vital for our country’s prosperity, not least in sectors such as agriculture, which is so important to my constituency. With that in mind, does he agree that, while the Opposition parties seek to play political acrobatics with trade, it is this Government who are listening and involving farmers in our future and continuity trade deals by putting the Trade and Agriculture Commission on a statutory footing?

[Greg Hands]

My hon. Friend is quite right. I think I am actually due to speak with farmers in his constituency in the coming 10 days or so, which I am looking forward to very much. He is quite right that putting the Trade and Agriculture Commission on a statutory footing means that all the National Farmers Unions from across the United Kingdom will play an active role in assessing trade agreements going forward.

Trade Bill

Greg Smith Excerpts

Report stage & 3rd reading & 3rd reading: House of Commons & Report stage: House of Commons
Monday 20th July 2020 Commons Chamber

[Deidre Brock (Edinburgh North and Leith) (SNP)]

I rise to speak in particular to SNP amendment 10 and new clause 7, in the name of my hon. Friend the Member for Dundee East (Stewart Hosie). I cannot quite work out whether the Government have not noticed the potential problems with the quality of imported foods or whether they just do not care. Frankly, having listened to this debate, I think it is the latter.

We hear so many platitudes, but when the chance to do something concrete came up during the Agriculture Bill, Ministers turned it down. Yes, pressures from farmers after that led to a commission to advise on a food imports framework of sorts. The hon. Member for Montgomeryshire (Craig Williams), who is no longer in his place, said its membership provided comfort to his farmers. That commission, though, has among its members Shanker Singham, a former lobbyist and favourite of various Ministers who is on record arguing that we should accept chlorine-washed chicken, hormone-injected beef and genetically modified crops from the US.

Mr Singham is not the only representative of the Institute of Economic Affairs on the commission; Lockwood Smith is also part of the IEA. That is important because the IEA is in favour of a hard Brexit and of lowering food and environmental standards to satisfy countries such as the US, China and India in trade deals. We know that because it published a paper on it in 2018 and got censured by the Charity Commission for its trouble.

Then there is the chair of the commission, Tim Smith, a former Tesco employee who said shortly after he was appointed that concerns about food standards were alarmist. I was alerted to that by the Department for International Trade; astonishingly, its Twitter account was used to publicise a link to the article. There are some who do not think the commission is there to provide safeguards for our food standards. They worry it is there to draw a veil of decency over the indecency of the Government’s position.

We were told during the Agriculture Bill that the proper place for provisions on the quality of imported food would be the Trade Bill, yet here we are debating the Trade Bill and the Government are intent on throwing those safeguards out of the window rather than enshrining them in legislation. Those are actions in bad faith and they should not be allowed to stand.

In Committee, the Minister said that Food Standards Scotland and the English Food Standards Agency will ensure that food imports comply with our standards. How? How will they do that? Will they have teams inspecting the production chains in other countries, as the EU does? How will the animal husbandry and production standards of other nations be monitored to prevent unsuitable food from ending up on our plates?

The White Paper on an internal UK market shows that the Government have no intention of letting Scotland, Wales or Northern Ireland do anything to protect their people. Under those plans, lower standards introduced by England’s Government will have to be swallowed by the rest of us. Frankly, I do not fancy swallowing anything they offer.

Professor Michael Keating of the Centre on Constitutional Change makes it clear in his response to the White Paper that he considers it a power grab from the devolved Administrations for the purpose of negotiating low-standard international trade deals. The Minister underlined that when he said that involving the devolved Administrations in trade deals would be “constitutionally inappropriate”. I disagree.

[Greg Smith (Buckingham) (Con)]

I start by declaring an interest: my wife’s family are farmers. I have listened carefully to the debate and studied all the amendments, and I feel that there has been significant mission creep among the amendments. As my hon. Friend the Member for Burnley (Antony Higginbotham) said a few moments ago, people seem to have forgotten what the Bill is actually about. The Bill is about those all-important continuity trade agreements that are vital for British farmers, British exporting businesses and the United Kingdom as a whole. The Bill categorically is not about new free trade deals, important as those are—and I am delighted to see colleagues from the Department for International Trade busy negotiating them.

When it comes to scrutiny, I very much welcome everything that my right hon. Friend the Minister said in opening the debate about the lengths to which the Government have gone to ensure that differences in any continuity agreements are laid before Parliament and how, likewise, where trade deals are likely to be different—where the Government have an ambition to get a better deal, such as with Japan—greater lengths are taken.

On farming, agriculture and our food standards, I cannot put it better than my hon. Friend the Member for Witney (Robert Courts). He pointed out to this House that, as we leave the European Union, those all-important food standards will be transferred from EU law into British law, and the only way that that law could be changed is by this House. So it is a false argument to suggest that there needs to be an amendment to this Bill to change fundamentally what this Bill is about to secure the standards that the Prime Minister has committed to and that were in the manifesto that I and all Members on the Government side of the House stood on. My right hon. Friend the Minister has repeated that on many occasions, as indeed did my right hon. Friend the Member for Bournemouth West (Conor Burns), who did so much to get this Bill back before the House of Commons.

When I heard the Opposition spokesman, the hon. Member for Sefton Central (Bill Esterson), who is not now in his place, talk about this earlier, I felt he had a very one-sided view of the argument, in that it was all about protectionism and the domestic market. Of course, the domestic market is important to all our farmers, but there are opportunities for international trade out there, such as the lifting of the ban on British beef into America, which is worth £66 million. Through trade, our farming can be assured and prosperous for the future.

[Liz Twist (Blaydon) (Lab)]

I have a sense of déjà vu, because it is just under 18 months ago that we had a debate in this Chamber on future trade agreements—there were a lot fewer of us in here then. We discussed the very issues that we are talking about today, and it seems that the Government have not listened substantially to the concerns that were raised then. In the time I have available, I want to talk briefly about a number of those concerns, because hundreds of my constituents have written to me about them over the last few days, and they have written to me about them time and again.

The first is the NHS and the need to ensure that it is protected from international competition. I will be supporting new clause 17, because it is essential that our NHS remains our NHS and we are able to protect it from competition. We already have some competition, and we need to make sure that the NHS is not open to the highest bidder. People actually want that written into the Trade Bill to ensure that that cannot happen.

The same goes for environmental and food safety standards. We have talked about chlorine chicken and we have heard something about the environment, but there are a whole range of issues. Animal welfare issues are at the heart of these concerns. It is not just about chlorine-washed chicken or more detail; people are concerned also about the impact of trade deals on the environment. This Bill is a lost opportunity. We could be using this Bill to be creative, and to ensure that we safeguard our environment. For example—an issue I have raised in other places sometimes—there is the issue of deforestation and ensuring that we can protect the forests through our trade deals. The hon. Member for Winchester (Steve Brine), who is not in his place, said earlier, “Aren’t the public ahead of us on this?” Indeed, the public are ahead of us on consumer protection, and they are saying to us that these safeguards need to be written into the Bill.

Finally, we have talked a bit during the debate about labour standards, and I am particularly concerned that in this Bill the Government should be protecting the trade and agreements we have with less developed countries and ensuring that fair trade and other trading agreements with them are safeguarded as an important part of their development.

On scrutiny, a great deal has been said. I certainly will be supporting new clause 4. There is huge concern—and people should not underestimate this—that deals will be signed off behind closed doors. Frankly, statutory instruments—and we have all been in loads of those Committees in recent days—are not the answer. We need proper debate and scrutiny. These are the concerns that Members have raised, and this is a missed opportunity.

Oral Answers to Questions

Greg Smith Excerpts

Thursday 5th March 2020 Commons Chamber

[Greg Hands]

The 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.

[Greg Smith (Buckingham) (Con)]

11. What assessment she has made of the potential economic benefits to the Thames valley of a trade agreement with the US.

[The Minister of State, Department for International Trade (Greg Hands)]

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.

[Greg Smith]

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?

[Greg Hands]

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.

Global Britain

Greg Smith Excerpts

Thursday 30th January 2020 Commons Chamber

[Greg Smith (Buckingham) (Con)]

I absolutely agree with my hon. Friend that we should have the closest possible ties with our friends in the Commonwealth. Does he agree with me that we should prioritise our free trading relationship with the United States, one of our closest friends in the world, so that the special relationship can endure?

[Paul Bristow]

Of course we should value our relationship with the United States, which is indeed a special relationship and should indeed endure. As I have said, however, I think we should look more broadly to the Commonwealth. No other countries in the world share as much, socially or economically, as Canada, Australia, New Zealand and the United Kingdom. We all share the same Head of State, have highly developed economies, share a common-law legal system, co-operate under the Five Eyes agreement for defence and security, share the same parliamentary systems, speak the same majority language, embrace human rights and western values, and even share common ancestry through historical bonds. With approval rates of 68% in the UK, 73% in Australia, 76% in Canada and 82% in New Zealand, CANZUK is an idea whose time has come. As the UK leaves the EU, I encourage Ministers to work with their counterparts in the other countries and explore that concept.

Let me make two suggestions for how we might make a start. First, the UK might join or at least develop closer links with the Trans-Pacific Partnership trading arrangement. Secondly, we could start to become more flexible in relation to the visa arrangements that currently exist with, for example, Canada under the Comprehensive Economic and Trade Agreement, and introduce a sort of professional mobility visa. I know how difficult these arrangements can be, as the former owner of a professional communications company who wanted to employ who he wanted to employ. Let us look into visa arrangements with CANZUK countries that might benefit from intra-company transfers, investment visas and independent professionals.

Central to the goal of revitalising the UK on the world stage is the wider Commonwealth. We must prioritise these historic relationships. The Commonwealth should no longer just be seen as a “nice to have”, but should be considered crucial to the Government’s vision of an outward-looking global Britain. The Government are pursuing the biggest strengthening of the diplomatic network in a generation, opening up 14 new and upgraded posts including, crucially, nine Commonwealth posts. That will include 1,000 new jobs, and it shows that the Government are on the right path towards solidifying the crucial relationships with our friends in the Commonwealth.

I also want briefly to show my support for the UK’s territories and dependencies, whose importance to this country should not be downplayed. The UK should be proud of the way in which they have succeeded in developing their own economies and becoming mostly self-sufficient, without requiring financial help from the UK taxpayer.

Last week I went to a meeting at which the representatives of each territory and dependency had a chance to speak. I left feeling very impressed by their ambition and loyalty to the UK, and very much more knowledgeable about them. One comment left a strong impression, and I thought it worth putting on the record in the House. What price would a country like China or Russia pay for a geographical network of territories of great strategic importance and with loyal local populations, like the one that the UK has and enjoys? Let us show those territories how much we value them.

I once coined the phrase “Think Brexit, think Peterborough” as a way of trying to get local people and businesses in my constituency to think about the opportunities presented by Brexit, but perhaps I should now say “Global Peterborough”. We are on the east coast mainline railway heading north, and will soon be just 40 minutes from London. We are also on the A1, the main north-south artery. Our east-west routes are strong. We have been a headquarters for global international brands, and my city is diverse with communities from across the world. We are a British city, but we are also a global city, and we can take advantage of that to step forward on to the world stage again.

The UK’s place as Europe’s top destination for foreign direct investment has been sustained. It has held that position since 2003. Between April 2017 and March 2019, the Department for International Trade supported 3,118 individual investments in the UK and 120,000 new jobs. The UK has attracted more projects, new jobs and investment than any other European country, and now it is time for Peterborough to take its fair share of that.

Peterborough has many EU citizens including, historically, a big Italian population and more recently a large number of eastern Europeans. I am confident that the Peterborough Conservatives will soon elect our first Lithuanian councillor when the magnificent and hard-working Ruta Dalton wins in Gunthorpe ward in the local elections this May. We are one city, and that is as a result of the big and valuable contribution that our European populations in Peterborough have made.

I am pleased that the Government’s settled status scheme will help to secure EU citizens’ rights in this country. So far, there have been 2.7 million applicants, and 2.5 million have been told that they can stay after Brexit. Just six have been rejected on the ground of criminality. This quick and easy system will be of great comfort to my constituents in Peterborough. The message is loud and clear: we value your contribution and we want you to stay.

It is time to be confident for the future of our country and to think globally and think big. I often say the same thing when I talk about my city, but the same applies to our country, so let us move forward with optimism and build on and deepen our historical relationships with the Commonwealth. It is also time for businesses to be confident and seize the new exporting and trade opportunities. The Government cannot do it for them, but we are here to help and support them as we enter a new chapter of our country’s history.

--- Later in debate ---

[Conor Burns]

I suggest that the hon. Gentleman talks to his counterpart in the Scottish Government.

My first visit as Minister of State at the Department for International Trade was to Scotland, the second was to Wales, and I was in Northern Ireland the following week, as a declaration of intent of our ambition to involve every nation of this country.

We will now be free to determine our own economic future, rekindling old friendships and reaching out to parts of the world that we may have ignored in recent decades. In our increasingly interconnected, globalised world, trade will play a central and vital role in supporting our shared security and prosperity. We face this future with confidence, built on firm foundations: we have the fifth-largest economy in the world; we are the second-largest service exporter; and we are home to the City of London, the world’s global financial gateway. Our commitment to law-governed liberty, our open liberal economy, our world-class talent and our business-friendly environment have made us a go-to destination for venture capital, and the European leader in attracting foreign direct investment, which last year, according to the Office for National Statistics, was a record level of £1.5 trillion.

We have an enormous amount to offer, whether it is our world-class education sector—a passion of mine since I made my maiden speech nine and a half years ago on the subject of student visitor visas—a system that has led to one in six global leaders having part of their education in the United Kingdom; our internationally renowned tech sector, now home to over 70 tech unicorns; or our green energy sector, which has seen us become a world leader in offshore wind and green finance. I congratulate my right hon. Friend the Member for Bournemouth East (Mr Ellwood) not only on being elected to chair the Defence Committee, but on highlighting the opportunity we have to play a massive international role in combating climate change.

[Greg Smith]

Will my right hon. Friend assure me that, among the fantastic list of areas in which we are prosperous and have something to offer the world, our creative industries will also be put centre stage?

[Conor Burns]

My hon. Friend is absolutely right. We lead the world in the creative industries. Only tomorrow I will travel to Pinewood Studios, and on Monday I will visit MediaCity in Manchester, where I will be outlining the contribution that the creative industries make to the United Kingdom’s economy. Given that my hon. Friend is a Bucks Member of Parliament, I think I am right in saying that the person who is hosting me tomorrow at Pinewood Studies chairs his local enterprise partnership.

However, there is a massive missed opportunity in the United Kingdom. It is a sad but true fact that less than 10% of British companies export anything at all overseas. That is why the Government’s export strategy will respond to that, to help increase exports as a percentage of GDP, complemented by a network of free ports, championed by my right hon. Friend the Secretary of State and my hon. Friend the Member for Ipswich (Tom Hunt), who I think is bidding for two of them.