Oral Answers to Questions

Philip Hollobone Excerpts

Thursday 15th November 2018 Commons Chamber

[Graham Stuart]

I can confirm that the hon. Gentleman does live in a parallel universe, but it is one that he shares with his Front Benchers. His parallel universe is entirely divorced from the reality that investors are coming to the UK. We are the No. 1 foreign direct investment destination in Europe. We have the largest stock, and that is why we have been able to support more than half a million new jobs since 2010. The biggest threat, investors tell me, is that of Labour coming to power.

[Mr Philip Hollobone (Kettering) (Con)]

During the referendum, “Project Fear” told us that global business interest in the UK would collapse if people voted to leave. Can the Minister confirm whether foreign direct investment has gone up or down since the referendum in June 2016?

[Graham Stuart]

I am glad to confirm to my hon. Friend that our stock of foreign direct investment has gone up. We remain the No. 1 destination in Europe and are seeing companies in so many sectors coming here. Investors have some concerns about Brexit but, as I have said, what they are really alarmed about is the prospect of Labour seizing their assets and destroying the job creation that investment brings.

--- Later in debate ---

[Mr Speaker]

Very wise, very deft—we are very grateful to the Minister.

[Mr Philip Hollobone (Kettering) (Con)]

What justification is there for an eight-year delay in the implementation of section 106?

[Victoria Atkins]

The Government have kept that under review, but, as I said earlier, it is also for political parties themselves to act on it, so I am pleased that the Conservative party is looking into how we can gather the evidence in order to improve diversity in our candidates list.