Trade: Import Substitution

Lord Tebbit Excerpts

Wednesday 19th March 2014 Lords Chamber

[Viscount Younger of Leckie]

The decisions that we are taking, particularly in the light of today’s Budget, will lead to a better climate and to more jobs being created and greater security in that sector.

[Lord Tebbit (Con)]

My Lords, is it not true that the European Union’s policies on increasing the cost of energy and, of course, widening fuel poverty are also driving chemical engineering firms out of Europe and out of Britain and will cause a grave loss of jobs? Can we not just tell them that we do not wish those policies to apply here?

[Viscount Younger of Leckie]

My Lords, I have already given my views on Europe. In terms of energy, as the House will be aware, we are continuing to develop some energy-friendly policies, particularly focusing on the automotive sector.