Oral Answers to Questions

Debate between Liz McInnes and Graham Stuart

Thursday 7th February 2019 Commons Chamber

[Liz McInnes (Heywood and Middleton) (Lab)]

2. What support his Department provides to British businesses investing overseas.

[The Parliamentary Under-Secretary of State for International Trade (Graham Stuart)]

Supporting UK-based companies to invest and operate overseas is a key pillar of the Department’s work. In 2017, UK companies brought home £86 billion as a result of those investments. The Department provides market information and identifies investment opportunities and potential partners. We have developed a new suite of products to help UK businesses as a result of outward direct investment pilots in New York, China, Turkey, Brazil, South Africa and Ethiopia.

[Liz McInnes]

I thank the Minister for that answer, but people are quite rightly concerned that setting up overseas subsidiaries or acquiring foreign enterprises could lead to job losses or relocations. Will the Minister confirm the net number of jobs created in the UK as a result of his Department’s support for outward direct investment?