Trade and Investment for Growth White Paper

Jonathan Edwards Excerpts

Wednesday 9th February 2011 Commons Chamber

[Vince Cable]

I accept the general argument. We accept that the ECGD is an agency of Government that needs reform. It has been heavily constrained in recent years by judicial reviews of some of its export activities. Of course we have to respect the courts, but the ECGD clearly needs to do more and perform a wider range of functions. What we are announcing today for small-scale enterprises is a key step forward.

[Jonathan Edwards (Carmarthen East and Dinefwr) (PC)]

The latest figures from Her Majesty’s Revenue and Customs indicate that Welsh exports fell by 6.3% in the previous four quarters. Considering that UKTI has no presence in Wales, what is the Secretary of State doing to ensure that my country, traditionally an exporting nation, is at the heart of this strategy?

[Vince Cable]

I did not totally follow the hon. Gentleman’s point about the statistics. Just to go over what the most recent statistics from a couple of days ago tell us, exports actually grew by 6% in the last quarter of last year, compared with the previous quarter. We should not read too much into that, because we are in abnormal conditions, but exports, along with business investment and manufacturing, are now growing. Wales, as a manufacturing and export centre, as he says, should be benefiting from that, and I hope that it will.