G20 Summit

Lilian Greenwood Excerpts

Wednesday 7th September 2016 Commons Chamber

[The Prime Minister]

The hon. Gentleman is not going to get any different answer from me to the one that I have given on numerous occasions throughout this afternoon. I will simply say this: if we are going to negotiate the right deal for the United Kingdom on trade in goods and services, it would be quite wrong for this Government to give away all our negotiating position in advance of starting those negotiations.

[Lilian Greenwood (Nottingham South) (Lab)]

As the Prime Minister knows, about 140,000 workers in the UK are employed by Japanese firms. My hon. Friend the Member for Stoke-on-Trent Central (Tristram Hunt) has mentioned Toyota, but Nissan, Honda and Hitachi all have large manufacturing bases that are vital to local economies and the supply chain. The Prime Minister knows that the huge uncertainty about our future relationship with the EU and the single market is creating difficulties. I want to provide her with another opportunity to say how, in her discussions with the Japanese and others, she tried to mitigate those risks to inward investment and jobs.

[The Prime Minister]

I am grateful to the hon. Lady, who reminds me that I did not fully answer the question from the hon. Member for Stoke-on-Trent Central (Tristram Hunt) who referred to the issue of Japanese firms. I was able to sit down and discuss these matters with Prime Minister Abe, and the outcome was a positive desire to take forward further discussions on how we can ensure that we are getting the best possible trading relationship with Japan, and that we can continue to see Japanese investment in the UK. I am pleased to say that the single biggest vote of confidence on investment in the United Kingdom since we had the vote to leave the European Union came, of course, from a Japanese company—from SoftBank with its £24 billion takeover of ARM.