UK Trade Performance

Martin Vickers Excerpts

Wednesday 1st May 2024 Commons Chamber

[Kemi Badenoch]

I think the point that the hon. Gentleman is making is that we cannot be complacent about what is happening in either country. Even as we talk about good news, we need to continue working to ensure that those things do not disappear. He is right that we should do as much as we can with the Department for the Economy. Now that a Minister is in place, it will be a lot easier for us to co-ordinate and see how we can work together to increase employment and improve wages and productivity in both regions.

[Martin Vickers (Cleethorpes) (Con)]

I welcome the Secretary of State’s statement. It was particularly encouraging to hear the news about the manufacturing sector. However, as she will be aware, if growth in that sector is to be maintained, continued Government support will be needed. Will it be forthcoming?

[Kemi Badenoch]

We have put in place a £4.5 billion advanced manufacturing plan for the manufacturing sector. Firms will need to ensure that they qualify for that funding. We are also doing what we can to bring in investment—especially foreign investment—which will help to drive productivity. It is good to see that business and investors globally want to invest all across the UK, not just in London, and not just in financial services but in manufacturing, certainly, and in our green industries of offshore and renewables. There is so much that we can do that will create industries and companies fit for the future.