Autumn Statement

Nia Griffith Excerpts

Wednesday 3rd December 2014 Commons Chamber

[Mr Speaker]

I use the term with some poetic licence, it must be admitted.

[Nia Griffith (Llanelli) (Lab)]

The Chancellor is quick to blame the eurozone. However, the UK now languishes as 22nd out of the 28 EU countries in terms of export growth. What specific measures will he take to improve it?

[Mr Osborne]

As I said in my statement, we face a major challenge when it comes to increasing our exports. As the Office for Budget Responsibility made clear, it has been a challenge for the British economy for the past 20 years. If anything, however, the decline in our exports has slowed down slightly in recent years, compared to what was happening under the last Government. Today I have committed myself to a £45 million fund, which will be available both to UK Trade & Investment and to the Foreign Office, to increase our trade links with the new emerging economies of the world, and to support first-time exporters in particular. Lord Livingston is doing a great job as Trade Minister, and I want to back him.