Oral Answers to Questions

Debate between Henry Smith and Graham Stuart

Thursday 15th July 2021 Commons Chamber

[Henry Smith (Crawley) (Con) [V]]

  Does my right hon. Friend agree that it is thanks to UK Export Finance reacting so quickly to the economic challenges of the covid-19 pandemic with the full backing of the Treasury that it was able to help some 549 companies and all their suppliers sell to 77 countries around the world last year?

[Graham Stuart]

I thank my hon. Friend for his excellent question. I am tremendously proud of UK Export Finance and its staff for the innovative way in which they have responded to the pandemic, with the record level—more than £12 billion—given to UK businesses supporting more than 100,000 jobs up and down the country. Behind those 549 companies, of course, stand 10,000 or more supply chain companies. UKEF, at no cost to the taxpayer, makes an enormous difference to the prosperity and success of this country.

Oral Answers to Questions

Debate between Henry Smith and Graham Stuart

Thursday 14th January 2021 Commons Chamber

[Graham Stuart]

I warmly welcome my hon. Friend to the parliamentary export programme and thank him for all he is doing for businesses in Fylde. In addition to the support I just outlined, I launched the export growth plan in October, with a £38 million internationalisation fund to provide grants for businesses to export. In December, I launched the UK Export Finance general export facility, providing working capital to exporting SMEs—the first product of its kind and available from all the major banks. In 2019, we were the only top 10 exporting country in the world to grow exports. All I can say is that we do not plan to let up.

[Henry Smith (Crawley) (Con)]

What steps her Department has taken to help ensure that businesses in the Coast to Capital local enterprise partnership area can benefit from future free trade agreements.

[The Parliamentary Under-Secretary of State for International Trade (Graham Stuart)]

We are determined that all regions of the United Kingdom should benefit from free trade agreements. Our English network of international trade advisers includes 30 giving export support in the south-east of England, all of whom have been trained to help companies take advantage of FTAs. We have a range of online resources, including country-by-country guides and tools on great.gov.uk such as “Find an online marketplace” and “Find export opportunities”, in addition to the wide range of webinars that the Department provides.

[Henry Smith [V]]

The Coast to Capital local enterprise partnership is soon to submit a freeport bid for the Manor Royal industrial area south of Gatwick airport. May I have an assurance from my hon. Friend that he will liaise with our right hon. Friend the Chancellor of the Exchequer in support of this excellent initiative?

[Graham Stuart]

I would not want to tread on my hon. Friend’s toes. As he understands, the selection process is ongoing and it will be decided by the Treasury, but obviously we are working very closely with the Chancellor and the Treasury team, precisely to ensure that the opportunities for freeports are assigned to the best possible places and that all the benefits that they can bring are realised, for the benefit of constituents such as my hon. Friend’s.