Oral Answers to Questions Debate
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Rushanara Ali
Main Page: Rushanara Ali (Labour - Bethnal Green and Stepney)Department Debates - View all Rushanara Ali's debates with the Department for Business and Trade
(1 year, 3 months ago)
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Rushanara Ali (Bethnal Green and Bow) (Lab)
Thank you, Mr Speaker. Business investment is lower in the UK than in any other G7 country and we rank 27th out of 30 OECD countries, ahead of only Poland, Luxembourg and Greece. More than half a trillion pounds-worth of under-investment by Government and business has left our economy trapped in a growth doom loop. What is the Secretary of State doing to undo this damage?
Kemi Badenoch
What the hon. Lady did not say is that business investment is increasing at a faster rate than in other countries. She is right that investment has been lower here, but that is why the Chancellor brought in policies such as full expensing to tackle this issue. She also did not mention the fact that we are the top destination for investment across financial services and many other areas. The UK is actually doing very well when it comes to inward investment, and we will continue to create policies that ensure we stay at the top of the pack.