Oral Answers to Questions

Debate between Harriett Baldwin and Elizabeth Truss

Thursday 17th October 2019 Commons Chamber

[Elizabeth Truss]

I can assure the hon. Gentleman that an incredible amount of work has been going on across Government to make sure that we are fully prepared for all scenarios. The Chancellor of the Duchy of Lancaster has been holding daily meetings—there have been 60 so far—and we are performing well, particularly on making sure that actions at the borders are in place.

[Harriett Baldwin (West Worcestershire) (Con)]

Our biggest export sector is services, which are invisible, and particularly financial services. Our biggest export market is the US. What discussions has the Secretary of State had about opening up financial services exports to the US and removing some non-tariff barriers?

[Elizabeth Truss]

My hon. Friend is absolutely right—this is a fantastic opportunity for the UK. When I was out in the US, I met Bob Lighthizer, and I also met the Treasury Secretary to discuss those potential opportunities with him. The UK is not just going to roll over in a trade deal with the US. We will make sure that our industries are promoted. We want barriers removed in the US to our successful service industries.

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[Elizabeth Truss]

I do not believe that we need the EU in order to have strong rights for women in Britain; I believe that we British women are strong enough to stand up for ourselves.

[Harriett Baldwin (West Worcestershire) (Con)]

We have a gender gap not just in the workplace, but among entrepreneurs; one in 10 men in work are entrepreneurs, whereas only one in 20 women are. What does the Minister think would be the best way to address that?

[Elizabeth Truss]

My hon. Friend is right about this, particularly in respect of funding. Female-led businesses are getting less funding from venture capital than male-led businesses. We want to address these barriers and open up entrepreneurship to women across the country. We are lagging behind places such as Canada and Australia, and we need to do better.