Peter Grant
Main Page: Peter Grant (Scottish National Party - Glenrothes)Department Debates - View all Peter Grant's debates with the HM Treasury
(8 years, 10 months ago)
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Greg Hands
I join my hon. Friend in very much welcoming that, particularly with reference to exports to China and India, which have been a great success. UKTI is doing what it can to support that, with a doubling of funds in China over the spending review period and providing tailored support for first-time exporters, with an additional £20 million in 2015-16. It is supporting northern powerhouse trade missions on that specific basis, on the terms mentioned by my hon. Friend.
Peter Grant (Glenrothes) (SNP)
22. The British Chambers of Commerce is forecasting that the much heralded doubling of UK exports will take not another four years, as the Chancellor had promised, but another 18 years—it will happen in 2034. Does the Chancellor accept that this is clear evidence that his efforts to reduce the UK trade deficit are failing and will continue to fail?
Greg Hands
As I mentioned earlier, the UK has a good future in terms of the trade deficit and improving statistics. UKTI will also be playing an important role here. On the announcements we made today on trade policy, one of the most important things we can do is adopt a whole-of-government approach to improving the approach we take to trade and boosting our exports.