Oral Answers to Questions

Marcus Fysh Excerpts

Thursday 6th July 2017 Commons Chamber

[Dr Fox]

The two things are not analogous. We operate with the WTO because we believe there needs to be a rules-based system for global trade, and if the WTO did not exist, we would have to invent it today.

[Mr Marcus Fysh (Yeovil) (Con)]

T5. My constituency has one of the largest export clusters in the south-west, and it is focused on the rest of the world as much as it is on the EU. What assurance can my right hon. Friend give that we will focus on doing global trade deals and not just on the EU?

[Dr Fox]

My hon. Friend makes a very valid point, and of course it is not just about exports; it is also about inward investment. Therefore, let me bring the House up to date by saying that at 9.30 this morning we published figures showing that a record-breaking number of foreign direct investment projects came into the UK in 2016-17—2,265—safeguarding nearly 108,000 jobs or creating new jobs in the UK. No doubt, the usual suspects will describe this by saying, “despite Brexit”.