Oral Answers to Questions

Debate between Jeremy Quin and Mark Garnier

Thursday 12th October 2017 Commons Chamber

[Mark Garnier]

The right hon. Gentleman knows full well that, under state aid rules which apply not only to the European Union but to the World Trade Organisation, the Government cannot give subsidies to businesses to create unfair competition against other countries. However, as I said in an earlier answer, the Government have supported Toyota with a £21 million investment. Any support that is given to any businesses—in the automotive sector, and across the piece—will be fully compliant with all the rules by which we abide. Subsidies such as those from the European regional development fund are widely known about, and they are perfectly fair and perfectly legal.

[Jeremy Quin (Horsham) (Con)]

3. What his policy is on attracting foreign direct investment into the UK.

[The Parliamentary Under-Secretary of State for International Trade (Mark Garnier)]

The Department supports foreign investment in all parts of the United Kingdom through our overseas network, international events programme, bespoke sector support, online services and regional teams. We serve the whole UK by working closely with investment promotion bodies in the devolved Administrations and local enterprise partnerships in England to co-operate effectively across a range of investment support activities.

[Jeremy Quin]

We have already heard positive news this morning about Toyota and Nissan. Will the Minister join me in welcoming recent work by EMY Consulting which proves that the United Kingdom remains the most attractive place in Europe for foreign direct investment?

[Mark Garnier]

My hon. Friend is absolutely right. We have seen some truly amazing numbers coming in. Britain has a record number of inward investment projects, and it is worth bearing in mind the fact that 158,000 jobs have been created and a further 66,000 safeguarded over the past year or so as a result of foreign direct investment.