Jo Stevens
Main Page: Jo Stevens (Labour - Cardiff Central)Department Debates - View all Jo Stevens's debates with the Wales Office
(7 years, 5 months ago)
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Alun Cairns
I am grateful to my hon. Friend for his question, because it gives me the opportunity to highlight the fact that Wales now has 37,000 more manufacturing jobs than in 2010. That demonstrates the strength and vibrancy of the Welsh economy. Clearly we want to do all we can to support our manufacturers. The value of the pound will have positive results for some businesses and perhaps present challenges for others, but those exporters who want to grow are clearly in a stronger position.
Jo Stevens (Cardiff Central) (Lab)
The Secretary of State referred earlier to the importance of the automotive industry in Wales. Ford announced in September that it would guarantee around a third of the jobs in its 1,800-strong workforce at Bridgend. Those jobs are vital to the local community and to the supply chain in Wales, but we are still concerned about the lack of commitment post-2020. The lack of any plan from the Government for Brexit is exacerbating the uncertainty and causing doubts about the plant’s future, so will the Secretary of State today commit his Government to giving Ford the same deal that they gave to Nissan in order to secure the future of the Bridgend plant and Ford’s presence in the UK post-Brexit?
Alun Cairns
The hon. Lady has raised an important point. My understanding of the situation is that Ford is continuing with more than £100 million-worth of new investment in the plant. That demonstrates the confidence that Ford has, not only in the Bridgend plant but in the UK economy. This builds on the strength of the automotive sector, which is extremely important to the Welsh economy and to the UK economy as a whole.
Alun Cairns
The hon. Gentleman shows a close interest in the Mersey Dee area and has shown particular interest in the north Wales growth deal, which my right hon. Friend the Chancellor mentioned in the autumn statement. We are keen to progress it and are waiting for details of the bid. I am sure that the hon. Gentleman will recognise the major success of that part of the world being chosen for the global F-35 repair centre, which will inject billions of pounds over decades into north-east Wales and MOD Sealand. We should recognise and celebrate that.
Jo Stevens (Cardiff Central) (Lab)
More than £2 billion of capital investment has been made over the past decade across Wales in social housing, transport, energy, water and education through the European Investment Bank. What plans has the Secretary of State put in place to mitigate the potentially disastrous consequences of leaving the EU on pre-existing EIB loans to organisations and public bodies in Wales? Crucially, what plans does he have to replace the funding that the EIB has been able to provide?
Alun Cairns
Our negotiations with the EIB will run in parallel with our negotiations with the European Commission. The hon. Lady has a responsibility to try to instil confidence in investment in Wales, not to undermine it. Only last week, the Chancellor announced a further capital injection of £436 million. I would hope that the hon. Lady would want to welcome that, not undermine investment, employment and jobs—it really does not become her.