Autumn Statement

Mary Macleod Excerpts

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

I am not sure that that personal attack warrants a proper reply.

[Mary Macleod (Brentford and Isleworth) (Con)]

My right hon. Friend mentioned that 1.2 million jobs had been created in the private sector. Examples include Aker Solutions in Chiswick, in my constituency, which has gone from employing 30 staff to planning to employ 1,300 by 2015. Does he agree that this shows the Government are rebalancing the economy and encouraging inward investment?

[Mr Osborne]

My hon. Friend is absolutely right: jobs are being created. Of course the economic situation is tough—it is tough in every western economy at the moment—but we are rebalancing our economy. One of the things I have sought to do in today’s statement—it is not the bit that will attract all the newspaper headlines—is expand our export promotion effort and ensure that UK Trade & Investment is better at encouraging exports and investment and ensuring that British overseas chambers of commerce are better equipped in the emerging economies. All these things are so important, because one of the big strategic mistakes we made as a country over the last 15 years was not to expand our market share—in the way that Germany did, for example—in those emerging economies, which have become so important.