Oral Answers to Questions

Debate between John Grady and Douglas Alexander

Thursday 31st October 2024 Commons Chamber

[Mr Alexander]

First, let me commend my hon. Friend for his work with the local primary school. I know how assiduous he is in advancing the interests of his constituents. I can assure him that we fully understand the importance of fair trade. I have met a representative of the Fair Trade Foundation in recent weeks, and I pay particular tribute to the work that Fairtrade is doing with the Co-op. Thousands of farmers producing goods such as tea, coffee, sugar and flowers are helped by Co-ops in our high streets across the country. It is now the UK’s largest seller of fair trade products, and it deserves our commendation too.

[John Grady (Glasgow East) (Lab)]

13. What steps he is taking to attract inward investment into Scotland.

[The Minister for Trade Policy and Economic Security (Mr Douglas Alexander)]

The international investment summit, about which we just heard, secured more than £63 billion, including for two significant projects in Scotland. Scottish Power, owned by Iberdrola, committed £24 billion to upgrade the UK’s energy infrastructure over the next five years. Floating offshore wind developer Green Volt has selected Aberdeen for its headquarters and plans to invest £2.5 billion. That, of course, comes on top of this Government’s establishment of GB Energy.

[John Grady]

I thank my right hon. Friend for his answer. Yesterday saw the largest Budget settlement for the Scottish Government in devolution’s history. The Labour party’s commitment to Scotland runs through this Government. Last week, the highly respected Strathclyde University’s Fraser of Allander institute reported that only 9% of Scottish businesses agree that the Scottish Government understand the business environment in Scotland. Does my right hon. Friend agree that Government understanding of business is crucial in driving investment and growth in Scotland, and that it is critical that the Scottish Government improve their understanding of the business environment?

[Mr Alexander]

Frankly, businesses in Scotland have been let down by two failed Governments. We have had a decade of division and decay in Scotland, and I am glad to see that we now have political stability, with Labour having a majority in Scotland, Wales and England. At the same time, we are committed to genuine partnership and working with the Scottish Government. I know that my hon. Friend has particular expertise in energy policy, given his past professional work. Tomorrow I will be in Torness, in my constituency, to meet EDF Energy—just one example of a business that, frankly, is being held back by the policy and approach of the present Scottish Government.