Kevin Brennan
Main Page: Kevin Brennan (Labour - Cardiff West)Department Debates - View all Kevin Brennan's debates with the Department for Education
(8 years, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
George Freeman
My hon. Friend makes an important point. Lord Maude is overseeing an important review of the way in which UKTI works, to make sure that we are developing a sector focus and a strategic market focus around the world. We are maintaining momentum—and we will improve on it in the years ahead—in order to hit that ambitious target.
Kevin Brennan (Cardiff West) (Lab)
The deficit for which this Department is responsible is the trade deficit. The current account measures our ability to pay our way in the world and its deficit recently reached its highest point since the second world war. It is still at 3.6% of GDP. How on earth will refusing to have an industrial strategy help British exporters overcome the failure of this Government’s trade policy?
George Freeman
The hon. Gentleman has picked the wrong Minister to talk about industrial strategy, seeing as I lead one of our most successful ones on life sciences. The Secretary of State’s speech yesterday made very clear our commitment to innovation, and this Department, though our investment in science and innovation, is leading in building a long-term economic plan for the science, industries and innovation of tomorrow. The hon. Gentleman can cite trade balance figures all he likes, but the truth is that we are in a global economy and we cannot control the rate at which other economies grow around the world.