Oral Answers to Questions

Jonathan Edwards Excerpts

Thursday 13th June 2013 Commons Chamber

[Vince Cable]

The Germans do indeed have a very good system of export support and trade finance. They do many of these things well. Partly in response to that, in the earlier period of this Government I introduced a new range of short-term trade finance products that we had not had before. They are now picking up a substantial amount of interest, and in the Budget the Chancellor announced £1.5 billion for medium-term—three to five-year—export credit guarantees, which are now being implemented.

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

In the Secretary of State’s assessment, what would be the implications of a Brit EU exit on the export sector?

[Vince Cable]

I am going to Luxembourg tonight. I hope that by the end of tomorrow we will have to agreed to launch those very important negotiations. This is potentially the biggest trade deal that has been accomplished for many years, and it will have major implications—positive implications—for British exporters, particularly in sectors such as cars.